Money & Finance
Mortgage Calculator
Estimate your mortgage payment and see how additional principal payments can reduce interest and shorten the loan.
Optional. Applied directly to principal every month.
One-time extra payments
Your mortgage
Normal monthly payment
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Without extra payments
Loan paid off in
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Total interest
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With extra payments
Loan paid off in
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Total interest
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Your savings
Interest saved
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Loan paid off earlier
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Extra payments are applied directly to principal. The normal monthly payment stays unchanged, so additional payments shorten the loan term. The interest rate is assumed to remain constant.
How extra mortgage payments work
Interest is calculated on the remaining loan balance. Paying additional amounts directly toward principal reduces that balance faster, which can reduce future interest and shorten the repayment period.