Experiment with our online Extra Loan Payment Mortgage Calculator to determine when you will reach your early payoff goal plus see the interest saved once an additional principal payment plan is implemented.

Be sure to favorite this page to make it easy to return over and over again! Use the link "Back to the Calculators" to return to the Mortgage Calculators menu and try other Calculators

Instructions: Starting with the first line of entry fields, change the values in each one to suit your scenario. Hit "Calculate" to move forward.

This calculator will show you the monthly payment with and without the additional payment plan and will also show you how much interest and time you will save if you make the assumed additional payment plan.

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Additional Payment Calculator

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You can save money and shave years off the length of your loan by paying more on
your monthly mortgage payment than your regularly scheduled amount. How much
can you save? Fill in the boxes below, including the amount of the additional
payment and the number of times you will make that increased payment each year.

Input Information
Loan amount:	$
Annual interest rate:	%
Loan term:	years
Start date of mortgage:
Additional payment amount:	$
Number of times you will make the additional payment per year:
Start date of additional payments:
Show balance schedule