Mortgage Calculator Including Extra Payments
This **mortgage calculator including extra payments** evaluates how making additional principal payments—whether monthly, yearly, or a one-time lump sum—can dramatically reduce your interest cost and shorten your mortgage term, helping you achieve financial freedom faster.
![Input parameters to calculate payoff savings](data:image/svg+xml;utf8,<svg width="630" height="35" viewBox="0 0 630 35" xmlns="http://www.w3.org/2000/svg"><rect x="0" y="0" width="630" height="35" fill="#369" /><text x="136" y="25" fill="#fff" font-size="17px" font-family="Arial">Modify the values and click the Calculate button to use</text><circle cx="71" cy="18" r="13" fill="#fff"/><path d="M62 15 L80 15 L71 26Z" fill="#369"/></svg>){kind=small}
Calculate Payoff Based on Remaining Loan Details
Use this calculator if you know the remaining balance and original terms of your mortgage, and want to estimate the impact of extra payments.
Example Payoff in 27 years and 1 month![](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" fill="#ffffff" width="19px" height="20px" viewBox="0 0 19 20"><g transform="translate(0,-3) scale(0.8)"><path fill="white" d="M17 3H5c-1.11 0-2 .9-2 2v14c0 1.1.89 2 2 2h14c1.1 0 2-.9 2-2V7l-4-4zm-5 16c-1.66 0-3-1.34-3-3s1.34-3 3-3 3 1.34 3 3-1.34 3-3 3zm3-10H5V5h10v4z"/></g><text x="0" y="20" fill="#d9f0c6" style="font-family:arial,helvetica,sans-serif;font-size:9px">save</text></svg> "Save this calculation")
The calculation below is an *example* based on a \$300,000 loan at 6.5% for 30 years, assuming 2 years of payments already made. **Input your own details and click Calculate to see your results.**
| Interest Savings (Example) \$102,400 |
Time Savings (Example) 3 years and 11 months |
|---|---|
|
Original: \$363,200
With extra payments: \$260,800
Pay 28% less on interest
|
Original: 28 yrs
With payoff: 24 yrs, 1 mo
Payoff 14% faster
|
| Original Remaining | With Extra Payments | |
|---|---|---|
| Monthly Payment | \$1,896.20 | \$1,996.20 |
| Total Interest Paid | \$363,200.00 | \$260,800.00 |
| Payoff in | 28 yrs | 24 yrs, 1 mo |