Home Loan and Mortgage Calculator
This calculator is a powerful tool to help you estimate your monthly mortgage payments, total interest costs, and analyze how making additional payments can dramatically shorten your loan term and save you money.
Standard Mortgage Payment Calculator
Use this section to calculate your estimated monthly payment and see the potential savings of early payoff strategies.
Estimated Payment and Payoff Analysis
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Based on typical inputs ($240,000 loan, 30 years, 6.5% interest), the standard monthly payment is **$1,516.85**. With a monthly extra payment of $200, the loan could be paid off in **24 years and 3 months**, resulting in **$45,340** in interest savings and **5 years and 9 months** shaved off the term. Click calculate with your specific numbers to update.
| Interest Savings $45,340 |
Time Savings 5 yrs, 9 mos |
|---|---|
|
Original Total Interest: $306,065
New Total Interest: $260,725
Pay 15% less on interest
|
Original Term: 30 yrs
New Term: 24 yrs, 3 mos
Payoff 19% faster
|
| Standard Pay | With Extra Pay | |
|---|---|---|
| Monthly Payment | $1,516.85 | $1,716.85 |
| Total Interest Paid | $306,065 | $260,725 |
| Total Payments | $546,065 | $500,725 |
| Payoff in | 30 yrs | 24 yrs, 3 mos |