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Extra Payment Payoff
See exactly how much time and interest a fixed extra payment saves on any loan — mortgage, auto, or personal.
Based on the original schedule, not what's left if you've been paying a while.
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Why extra payments help so much
Every extra dollar you pay goes 100% toward principal, since your regular payment already covers the interest due. Reducing principal early means less interest accrues on every future payment too — the savings compound, similar to how compound interest works in reverse.
This is an estimate assuming a fixed interest rate and no other changes to the loan. Confirm with your lender that extra payments apply to principal, not next month's payment, before relying on this.