Extra-Payment Method
Add a fixed amount to every monthly payment, applied directly to principal.
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See how much you save by adding $50, $200, or $500 per month to your mortgage.
Open → 📅Full month-by-month breakdown of every payment, principal, and interest.
Open → 📆Switch to biweekly and add one extra full payment per year automatically.
Open → ⚖️Which option saves you more total dollars over the life of your loan?
Open → 💰See exactly what a one-time $5K, $10K, or $25K windfall does to your payoff date.
Open → 🏦The advanced HELOC payoff method explained — when it works and when it doesn't.
Open →Five battle-tested methods homeowners use to shave years off their mortgage.
Add a fixed amount to every monthly payment, applied directly to principal.
Learn more →Pay half every two weeks — sneak in one extra full payment per year.
Learn more →Apply tax refunds, bonuses, and inheritance dollars to crush principal.
Learn more →Drop your rate and shorten your term simultaneously when conditions allow.
Learn more →The advanced velocity-banking approach — math, mechanics, and real risks.
Learn more →"Paid off 7 years early thanks to this calculator."
"Finally understand how extra payments actually work."
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"Paid off 7 years early thanks to this calculator."
"Finally understand how extra payments actually work."
"The AI advisor answered in seconds what my bank couldn't explain in 30 mins."
"Best free mortgage tool I've found. Bookmarked immediately."
"Saved $94,000 in interest by switching to biweekly payments."
"The amortization schedule is incredibly clear and detailed."
"Used the refinance comparison tool — saved us from a bad decision."
"AI chat is surprisingly accurate and helpful."
"Saved $94,000 in interest by switching to biweekly payments."
"The amortization schedule is incredibly clear and detailed."
"Used the refinance comparison tool — saved us from a bad decision."
"AI chat is surprisingly accurate and helpful."
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With consistent extra payments of $200-$400 per month, most homeowners pay off a 30-year mortgage in 20-25 years. Larger extra payments can cut it to 15-18 years.
Every extra dollar applied to principal reduces the balance interest is calculated on for every future month, compounding your savings dramatically over time.
If current rates are at least 0.75% lower than your current rate and you plan to stay in the home 5+ years, refinancing usually wins. Otherwise, extra payments are simpler and cost-free.
The HELOC payoff strategy can work for disciplined borrowers but adds complexity and risk. For most homeowners, simple extra payments achieve nearly the same result with no second loan.
Biweekly payments typically save $30,000-$60,000 in interest and 4-6 years on a typical 30-year loan, versus the standard monthly schedule.
A $10,000 lump sum applied to principal in year 5 of a typical 30-year loan saves roughly $25,000 in interest and shortens the loan by about 14 months.