MyHomeLoanTools
Extra Payment Savings
Extra Payments
As you can see, if you paid an extra $100 every month for the life of the loan you would pay off your mortgage 68 months early and save nearly $60,000 in interest!
 Change
Monthly payment$100 increase
Months until payoff68 sooner
Total interest to be paid$59,554 savings

Savings With Extra Payments - Example

This example illustrates how much money you can save by making extra payments on your mortgage. We assume that your $200,000 mortgage has a 30 year term and a 6.75% interest rate. After reviewing this example, use the extra payment calculator to find out how much you can save on your mortgage.

» Check Out the Extra Payments Case Study!