Paying just a little extra on your mortgage each month can have a dramatic effect
on the time it takes you to pay off your mortgage and the amount of interest you
pay over the life of the loan. This calculator is designed to show you how much
time and money — over the life of the loan — you could save by paying
an additional amount in your mortgage payment each month.
The graph below shows the difference between paying your mortgage with the minimum required payments vs. adding the additional amount you specified to your mortgage payment each month. The more you can manage to pay each month, the faster you'll pay off your mortgage and the less interest you'll pay.
Accelerated Mortgage Projection