Extra Payment Calculator to help borrowers pay off their loan faster and earlier with extra payments. Extra payment loan calculator is useful to see how much interest payments a borrower can save, and how much earlier they can pay off their loans.
Extra Payment Loan Information |
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| Mortgage Amount: | $150,000.00 | ||||||
| Monthly Principal & Interest: | $1,947.56 | ||||||
| Monthly Extra Payment: | $300.00 | ||||||
Total Monthly Payment: |
$2,247.56 |
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| Total # Of Payments: | 81 | ||||||
| Start Date: | May, 2025 | ||||||
| Payoff Date: | Jan, 2032 | ||||||
| Principal: | $126,000.00 | ||||||
| Total Extra Payment: | $24,000.00 | ||||||
| Total Interest Paid: | $30,663.71 | ||||||
Total of all Payments: |
$180,663.71 |
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Extra Payment Amortization Schedule |
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| Payment Date | Payment # | Interest | Principal | Extra Payment | Total Payment | Balance | |
|---|---|---|---|---|---|---|---|
| May, 2025 | 1 | $709.38 | $1,238.19 | $300.00 | $2,247.56 | $148,461.81 | |
| Jun, 2025 | 2 | $702.10 | $1,245.46 | $300.00 | $2,247.56 | $146,916.35 | |
| Jul, 2025 | 3 | $694.79 | $1,252.77 | $300.00 | $2,247.56 | $145,363.58 | |
| Aug, 2025 | 4 | $687.45 | $1,260.11 | $300.00 | $2,247.56 | $143,803.46 | |
| Sep, 2025 | 5 | $680.07 | $1,267.49 | $300.00 | $2,247.56 | $142,235.97 | |
| Oct, 2025 | 6 | $672.66 | $1,274.91 | $300.00 | $2,247.56 | $140,661.07 | |
| Nov, 2025 | 7 | $665.21 | $1,282.35 | $300.00 | $2,247.56 | $139,078.71 | |
| Dec, 2025 | 8 | $657.73 | $1,289.84 | $300.00 | $2,247.56 | $137,488.88 | |
| Jan, 2026 | 9 | $650.21 | $1,297.36 | $300.00 | $2,247.56 | $135,891.52 | |
| Feb, 2026 | 10 | $642.65 | $1,304.91 | $300.00 | $2,247.56 | $134,286.61 | |
| Mar, 2026 | 11 | $635.06 | $1,312.50 | $300.00 | $2,247.56 | $132,674.11 | |
| Apr, 2026 | 12 | $627.44 | $1,320.12 | $300.00 | $2,247.56 | $131,053.99 | |
| May, 2026 | 13 | $619.78 | $1,327.79 | $300.00 | $2,247.56 | $129,426.20 | |
| Jun, 2026 | 14 | $612.08 | $1,335.48 | $300.00 | $2,247.56 | $127,790.72 | |
| Jul, 2026 | 15 | $604.34 | $1,343.22 | $300.00 | $2,247.56 | $126,147.50 | |
| Aug, 2026 | 16 | $596.57 | $1,350.99 | $300.00 | $2,247.56 | $124,496.51 | |
| Sep, 2026 | 17 | $588.76 | $1,358.80 | $300.00 | $2,247.56 | $122,837.71 | |
| Oct, 2026 | 18 | $580.92 | $1,366.64 | $300.00 | $2,247.56 | $121,171.07 | |
| Nov, 2026 | 19 | $573.04 | $1,374.52 | $300.00 | $2,247.56 | $119,496.54 | |
| Dec, 2026 | 20 | $565.12 | $1,382.44 | $300.00 | $2,247.56 | $117,814.10 | |
| Jan, 2027 | 21 | $557.16 | $1,390.40 | $300.00 | $2,247.56 | $116,123.70 | |
| Feb, 2027 | 22 | $549.17 | $1,398.39 | $300.00 | $2,247.56 | $114,425.30 | |
| Mar, 2027 | 23 | $541.14 | $1,406.43 | $300.00 | $2,247.56 | $112,718.88 | |
| Apr, 2027 | 24 | $533.07 | $1,414.50 | $300.00 | $2,247.56 | $111,004.38 | |
| May, 2027 | 25 | $524.96 | $1,422.60 | $300.00 | $2,247.56 | $109,281.77 | |
| Jun, 2027 | 26 | $516.81 | $1,430.75 | $300.00 | $2,247.56 | $107,551.02 | |
| Jul, 2027 | 27 | $508.63 | $1,438.94 | $300.00 | $2,247.56 | $105,812.09 | |
| Aug, 2027 | 28 | $500.40 | $1,447.16 | $300.00 | $2,247.56 | $104,064.93 | |
| Sep, 2027 | 29 | $492.14 | $1,455.42 | $300.00 | $2,247.56 | $102,309.50 | |
| Oct, 2027 | 30 | $483.84 | $1,463.72 | $300.00 | $2,247.56 | $100,545.78 | |
| Nov, 2027 | 31 | $475.50 | $1,472.07 | $300.00 | $2,247.56 | $98,773.72 | |
| Dec, 2027 | 32 | $467.12 | $1,480.45 | $300.00 | $2,247.56 | $96,993.27 | |
| Jan, 2028 | 33 | $458.70 | $1,488.87 | $300.00 | $2,247.56 | $95,204.40 | |
| Feb, 2028 | 34 | $450.24 | $1,497.33 | $300.00 | $2,247.56 | $93,407.08 | |
| Mar, 2028 | 35 | $441.74 | $1,505.83 | $300.00 | $2,247.56 | $91,601.25 | |
| Apr, 2028 | 36 | $433.20 | $1,514.37 | $300.00 | $2,247.56 | $89,786.89 | |
| May, 2028 | 37 | $424.62 | $1,522.95 | $300.00 | $2,247.56 | $87,963.94 | |
| Jun, 2028 | 38 | $416.00 | $1,531.57 | $300.00 | $2,247.56 | $86,132.38 | |
| Jul, 2028 | 39 | $407.33 | $1,540.23 | $300.00 | $2,247.56 | $84,292.15 | |
| Aug, 2028 | 40 | $398.63 | $1,548.93 | $300.00 | $2,247.56 | $82,443.22 | |
| Sep, 2028 | 41 | $389.89 | $1,557.68 | $300.00 | $2,247.56 | $80,585.54 | |
| Oct, 2028 | 42 | $381.10 | $1,566.46 | $300.00 | $2,247.56 | $78,719.08 | |
| Nov, 2028 | 43 | $372.28 | $1,575.29 | $300.00 | $2,247.56 | $76,843.79 | |
| Dec, 2028 | 44 | $363.41 | $1,584.16 | $300.00 | $2,247.56 | $74,959.64 | |
| Jan, 2029 | 45 | $354.50 | $1,593.07 | $300.00 | $2,247.56 | $73,066.57 | |
| Feb, 2029 | 46 | $345.54 | $1,602.02 | $300.00 | $2,247.56 | $71,164.55 | |
| Mar, 2029 | 47 | $336.55 | $1,611.01 | $300.00 | $2,247.56 | $69,253.54 | |
| Apr, 2029 | 48 | $327.51 | $1,620.05 | $300.00 | $2,247.56 | $67,333.49 | |
| May, 2029 | 49 | $318.43 | $1,629.13 | $300.00 | $2,247.56 | $65,404.36 | |
| Jun, 2029 | 50 | $309.31 | $1,638.25 | $300.00 | $2,247.56 | $63,466.10 | |
| Jul, 2029 | 51 | $300.14 | $1,647.42 | $300.00 | $2,247.56 | $61,518.68 | |
| Aug, 2029 | 52 | $290.93 | $1,656.63 | $300.00 | $2,247.56 | $59,562.05 | |
| Sep, 2029 | 53 | $281.68 | $1,665.88 | $300.00 | $2,247.56 | $57,596.16 | |
| Oct, 2029 | 54 | $272.38 | $1,675.18 | $300.00 | $2,247.56 | $55,620.98 | |
| Nov, 2029 | 55 | $263.04 | $1,684.52 | $300.00 | $2,247.56 | $53,636.46 | |
| Dec, 2029 | 56 | $253.66 | $1,693.91 | $300.00 | $2,247.56 | $51,642.55 | |
| Jan, 2030 | 57 | $244.23 | $1,703.34 | $300.00 | $2,247.56 | $49,639.22 | |
| Feb, 2030 | 58 | $234.75 | $1,712.81 | $300.00 | $2,247.56 | $47,626.41 | |
| Mar, 2030 | 59 | $225.23 | $1,722.33 | $300.00 | $2,247.56 | $45,604.08 | |
| Apr, 2030 | 60 | $215.67 | $1,731.89 | $300.00 | $2,247.56 | $43,572.18 | |
| May, 2030 | 61 | $206.06 | $1,741.50 | $300.00 | $2,247.56 | $41,530.68 | |
| Jun, 2030 | 62 | $196.41 | $1,751.16 | $300.00 | $2,247.56 | $39,479.52 | |
| Jul, 2030 | 63 | $186.71 | $1,760.86 | $300.00 | $2,247.56 | $37,418.67 | |
| Aug, 2030 | 64 | $176.96 | $1,770.60 | $300.00 | $2,247.56 | $35,348.06 | |
| Sep, 2030 | 65 | $167.17 | $1,780.40 | $300.00 | $2,247.56 | $33,267.67 | |
| Oct, 2030 | 66 | $157.33 | $1,790.23 | $300.00 | $2,247.56 | $31,177.43 | |
| Nov, 2030 | 67 | $147.44 | $1,800.12 | $300.00 | $2,247.56 | $29,077.31 | |
| Dec, 2030 | 68 | $137.51 | $1,810.05 | $300.00 | $2,247.56 | $26,967.26 | |
| Jan, 2031 | 69 | $127.53 | $1,820.03 | $300.00 | $2,247.56 | $24,847.23 | |
| Feb, 2031 | 70 | $117.51 | $1,830.06 | $300.00 | $2,247.56 | $22,717.17 | |
| Mar, 2031 | 71 | $107.43 | $1,840.13 | $300.00 | $2,247.56 | $20,577.04 | |
| Apr, 2031 | 72 | $97.31 | $1,850.25 | $300.00 | $2,247.56 | $18,426.79 | |
| May, 2031 | 73 | $87.14 | $1,860.42 | $300.00 | $2,247.56 | $16,266.37 | |
| Jun, 2031 | 74 | $76.93 | $1,870.64 | $300.00 | $2,247.56 | $14,095.74 | |
| Jul, 2031 | 75 | $66.66 | $1,880.90 | $300.00 | $2,247.56 | $11,914.84 | |
| Aug, 2031 | 76 | $56.35 | $1,891.22 | $300.00 | $2,247.56 | $9,723.62 | |
| Sep, 2031 | 77 | $45.98 | $1,901.58 | $300.00 | $2,247.56 | $7,522.04 | |
| Oct, 2031 | 78 | $35.57 | $1,911.99 | $300.00 | $2,247.56 | $5,310.05 | |
| Nov, 2031 | 79 | $25.11 | $1,922.45 | $300.00 | $2,247.56 | $3,087.60 | |
| Dec, 2031 | 80 | $14.60 | $1,932.96 | $300.00 | $2,247.56 | $854.64 | |
| Jan, 2032 | 81 | $4.04 | $854.64 | $0.00 | $858.68 | $0.00 | |
Compare Monthly vs. Bi-weekly |
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| Payment Frequency | Monthly | Bi-weekly | |||||
| Payments / Year | 12 | 26 | |||||
| Each Payment | $2,247.56 | $1,273.78 | |||||
| Total Extra Payments | $24,000.00 | $40,800.00 | |||||
| Total Interest | $30,663.71 | $23,573.96 | |||||
| Total Tax, Insurance, PMI & Fees | $0.00 | $0.00 | |||||
| Total Payment | $180,663.71 | $173,573.96 | Total Savings | $0 | $7,089.76 | ||
| Payoff Date | Jan, 2032 | Aug, 2030 | |||||
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