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Extra payment calculator

What an extra $200 a month, or a one-time lump sum, does to your payoff date and total interest, next to the 15-year fixed everyone's uncle recommends.

Extra payments

Compare with a 15-year

A 15-year fixed usually carries a lower rate but locks you into the higher payment. Extra payments on a 30-year get you most of the way there and you can stop any month. That flexibility is worth something; this shows what it costs.

$0interest saved with extra payments
Paid off
Scheduled payment
With extra
As scheduledWith extra payments15-year fixed
Monthly P&I
Required minimum
Paid off in
Total interest
Interest vs. scheduled

For education and comparison only. Rates, costs and program rules depend on your credit, property and loan, and nothing here is a quote or a commitment to lend. Want the real version for your situation? Let's talk.

Other calculators: Monthly payment · Refinance break-even · Buydown comparison · Extra payments · HELOC · Rent vs. buy

Deciding between 30 and 15?

The right answer depends on your other goals, not just the interest. That's a conversation, and it's one I like having.

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