Mortgage Payment Accelerator Calculator
See how extra payments can help you pay off your mortgage faster and save on interest
Loan Information
Enter your mortgage details
Additional amount you'll pay each month
Tip: Even small extra payments can make a big difference over time. Try different amounts to see the impact!
Interest Savings
$116,640
You'll save this much in interest by making extra payments
Time Saved
7.1 years
You'll pay off your mortgage 85 months (7.1 years) earlier
Payment Comparison
Standard Monthly Payment$1,996
New Monthly Payment$2,196
Extra Payment+$200
Loan Term Comparison
Standard Loan Term30 years
New Loan Term22.9 years
Time Saved7.1 years
Total Cost Comparison
Standard Total Interest$418,527
New Total Interest$301,887
Interest Saved$116,640
By paying an extra $200/month, you'll save $116,640 in interest and own your home 7.1 years sooner!
Ways to Make Extra Payments:
- • Round up your payment to the nearest $100
- • Make one extra payment per year (13 instead of 12)
- • Apply bonuses, tax refunds, or windfalls to principal
- • Bi-weekly payments (26 half-payments = 13 full payments)