Additional Payment Calculator

You can save money and shave years off the length of your loan by paying more on your monthly mortgage payment than your regularly scheduled amount. How much can you save? Fill in the boxes below, including the amount of the additional payment and the number of times you will make that increased payment each year.

Loan Amount $ Annual Interest Rate % Loan Term (in Years) Start Date of Mortgage: January February March April May June July August September October November December 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Additional Payment Amount (more than standard monthly payment) $ Number of times you will make the additional payment per year: 12 months 11 months 10 months 9 months 8 months 7 months 6 months 5 months 4 months 3 months 2 months 1 months Start Date of Additional Payments: January February March April May June July August September October November December 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 Show Amortization Schedule YesNo