See how a little more principal each month can save years and interest.
⌁ All calculations run locally in your browser. No data is stored.
Extra payments are applied directly to principal after the scheduled payment each month.
We amortize your remaining balance twice: once with the scheduled fixed-rate payment and again with your extra amount applied directly to principal every month.
Change any input to update the estimate instantly. Your entries never leave your device.
Usually no. It reduces principal and shortens payoff time while the scheduled payment remains the same.
No. Check your loan agreement or ask your servicer before making additional payments.
Follow your servicer’s instructions and verify that the extra amount is applied to principal.