Extra Mortgage Payment Calculator

Amortize the loan with and without your extra monthly payment, then compare payoff time and interest saved. Calculate it clearly with Figur.

How the extra mortgage payment calculator works

Amortize the loan with and without your extra monthly payment, then compare payoff time and interest saved.

Method and assumptions

Figur applies standard payment, interest, or projection formulas to the values you enter. The calculation runs entirely in your browser.

  • Rates and contributions stay constant for the period unless the calculator says otherwise.
  • Taxes, insurance, fees, penalties, and lender-specific terms are excluded unless a field explicitly includes them.
  • Results are rounded estimates; a financial institution may use different rounding rules or payment dates.

This tool is for general information, not financial, tax, legal, or investment advice. Confirm important figures with the relevant institution or a qualified professional.

Sources and references

No external rates or products are consulted: the calculator applies standard financial formulas only to the values you enter.

Worked example

$320,000 at 6.5%/30 yr with $200 extra a month.

Paid off about 6.6 years early, saving over $105,000 in interest.

Frequently asked questions

Does a little extra help?

Yes. Even a small extra amount can cut years off the loan.

When do payments apply?

The tool assumes the extra goes straight to principal each month.

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