Mortgage calculators

Extra Principal Payments

See how additional principal payments could reduce total interest and help you pay off your mortgage sooner.

Your current loan

Current principal balance

Interest rate (%)

Remaining term (yrs)

Whole months, e.g. 26.5 = 318 months.

Next payment date

Extra principal

Extra principal every month

One-time extra payment

Applied with payment number

1 = your next payment.

With vs. without extra payments

Interest saved

$75,372

Paid off sooner by

5 yr 9 mo

	Current schedule	With extra
Payoff date	Oct 2053	Jan 2048
Payments remaining	324	255
Total interest	$305,682	$230,310
Extra principal paid	$0	$50,800

Your required payment stays $1,823.09 per month (P&I).

Extra principal generally shortens your payoff time rather than lowering the required monthly payment. Check with your servicer how to designate extra funds as principal.

Let's put your numbers into perspective.

Get help exploring a payment and mortgage strategy that fits your goals.

Review My Numbers With Shelby

Educational estimates only, not a preapproval, loan offer, or credit decision. Actual costs and loan terms may differ.