Extra Mortgage Payment Calculator
Compare extra principal amounts and see how much time and interest they can save.
Preparing your calculator…
MansionMath provides estimates for educational purposes. Actual loan terms, taxes, insurance, fees, investment returns, and eligibility may vary.
How this calculator works
The existing fixed-rate payment formula and shared monthly mortgage recurrence determine interest and principal. We simulate until the balance reaches zero, cap the final payment, and compare the original schedule with extra principal. A lump sum is applied now, and annual extras occur every twelfth payment. The stated term derives a payment only when current principal + interest is entered as zero.
Use current quotes, local rates, and measured dimensions to make this estimate useful for your situation.
Frequently asked questions
Does my current payment include escrow?+
Enter principal and interest only. Property taxes, homeowners insurance, and HOA do not repay the loan.
When are extra payments applied?+
Monthly extras accompany regular payments. A one-time payment is applied immediately; annual extras apply at the end of every twelfth payment. Verify principal-only handling with your servicer.