Mortgage Repayment Calculator
Add extra payments and see exactly how many months you cut off your mortgage — and how much interest you save.
Your loan
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- Monthly payment
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- Payoff date
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- Total interest
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- Total cost
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- Monthly payment
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- Payoff date
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- Total interest
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- Total cost
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Year-by-year balance
Standard vs. accelerated repayment
| Year | Std balance | Acc balance | Saved so far |
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Why extra payments matter so much
Every extra dollar goes directly toward principal, which reduces the balance that interest accrues on. Early in a loan, most of your payment is interest — so extra payments in the first years have an outsized effect on total interest paid.
Even $200/month extra on a 30-year mortgage can cut 4–6 years off the loan and save tens of thousands in interest.
Lump sum vs. monthly extra
A one-time lump sum applied to principal immediately reduces your balance — effective from day one. Monthly extra payments compound over time and are often more practical to sustain. Both strategies work; the best one is the one you can actually maintain.
Check with your lender that extra payments apply to principal, not future payments.