Extra Monthly Loan Payment Calculator

Here you can calculate how much money (and time) you will save by paying a fixed extra amount to your mortgage or loan payment every month.

Paying an extra fixed amount to your monthly loan payment will save you money on interest, pay off your mortgage faster, and build equity faster.

However, before you continue, make sure that there are no prepayment penalties or negative tax implications. Furthermore, also take into consideration that it will decrease your disposable income and reduce your ability to invest in other avenues.

Please fill in the form below to calculate how much money (and time) you will save by paying a fixed extra amount to your mortgage or loan payment every month.