• Calculators
• Additional Payment Calculator

Extra Payment Calculator

Compare what your total interest would be with and without making extra payments on your mortgage. All fields are required unless marked as optional.

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Loan amount

$

Interest rate (%)

%

Term

Term 10 15 20 25 30 35 40

Extra payments (optional)

$

Extra payment frequency

Monthly Annually

Show options

Extra payment date

January February March April May June July August September October November December

Your additional payment results

• Product Information

  Breakdown of extra payments

  Choose a year and month within your term to see the difference an additional payment will make.

  Year

  Month 1 2 3 4 5 6 7 8 9 10 11 12

• Graph

  Interest payments

  This graph shows the impact of making extra payments to the principal of your mortgage. See how you could reduce the length of your loan and the interest you pay by increasing the extra payments.

  Note: By paying extra amounts each month, you may be able to repay your loan much quicker.

Next steps

Explore your mortgage options
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Related topics

Refinancing rates and options

Each type of refinance comes with several advantages and important considerations. Learn about them and choose the right refinancing rate for you.

Compare refinance options

The refinance mortgage application process

From completing an application to getting approved and closing, getting a refinance mortgage isn't very different from the mortgage process you went through when you bought your home.

Learn about the refinance mortgage application process

Need mortgage help?

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