US Mortgage
US Mortgage Extra Payment Calculator
Extra principal payments can shorten the loan term and cut total interest, but the benefit depends on the loan, rate and how often you pay extra. This planner compares a baseline payoff with an extra-payment scenario.
Official Standards & Rule Matrix
Extra principalRecurring monthly or annual extra amount
ComparisonBaseline vs extra-payment payoff
OutputsMonths saved and estimated interest saved
ScopePrincipal and interest only; taxes and insurance excluded
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How to use this tool
- Enter the loan balance, rate and remaining term.
- Add the extra principal you can pay consistently.
- Compare the payoff date and total interest with the baseline.
- Check the lender’s prepayment rules before committing.
Computed completely in your browser. No personal data or numbers are transmitted over the network.
Frequently Asked Questions
- Should I pay extra or invest?
- It depends on the mortgage rate, expected investment return, liquidity needs and risk. Paying extra is a guaranteed interest saving; investing is not guaranteed.
- Do lenders allow extra payments?
- Most do, but some charge prepayment penalties or apply extra amounts differently. Confirm how the lender applies extra principal.
- Does this include taxes and insurance?
- No. The comparison focuses on principal and interest. Property taxes, insurance and HOA dues continue separately.
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