← All toolsA little extra.
CLARITY IN THE NUMBERS
A little extra.
A different finish line.
See what extra principal could change. Try a monthly amount, a one-time payment, or both.
SEE THE DIFFERENCE
Your balance over time.
Regular paymentsWith extra principal
The lines show estimated balances after each payment. The table below provides the same comparison in numbers.
See the numbers year by year
| Year | Regular balance | Extra-payment balance | Interest saved so far |
|---|
How this illustration works: We calculate a fixed principal-and-interest payment from the balance, rate, and years remaining. Monthly extra payments begin with the next payment and continue until payoff. The one-time amount is also applied with that next payment. The final payment is capped at the amount owed. Interest uses monthly amortization, not daily payoff interest. No refinancing, recasting, fees, penalties, tax effects, or changes to mortgage insurance are modeled. Actual servicing and rounding may differ.
Confirm with your servicer that extra payments will be applied to principal, and check your loan terms for any prepayment penalty. CFPB: extra principal payments →