See how extra monthly payments cut your mortgage interest and clear your loan years earlier. Compare with and without overpayment, switch between shortening the term or lowering the installment, and find your savings instantly. No signup required.
Your mortgage
Change any number — nothing is saved
$12,000 a year straight off the principal
Save $266,407 and pay off 11y 8m earlier
Balance over time
Remaining mortgage with vs without overpayment
Your overpayment impact
Key numbers with your overpayment applied
Interest saved
Time saved
Total interest
Total paid
Monthly installment
Payoff term
Year-by-Year Breakdown
Remaining balance, interest and overpayments each year
| Year | Remaining Balance | Installment | Interest (cumulative) | Overpaid (cumulative) |
|---|---|---|---|---|
| 1 | $382,158 | $3,034 | $30,571 | $12,000 |
| 2 | $362,873 | $3,034 | $59,700 | $24,000 |
| 3 | $342,028 | $3,034 | $87,269 | $36,000 |
| 4 | $319,499 | $3,034 | $113,153 | $48,000 |
| 5 | $295,148 | $3,034 | $137,216 | $60,000 |
| 6 | $268,828 | $3,034 | $159,309 | $72,000 |
| 7 | $240,381 | $3,034 | $179,275 | $84,000 |
| 8 | $209,633 | $3,034 | $196,941 | $96,000 |
| 9 | $176,400 | $3,034 | $212,121 | $108,000 |
| 10 | $140,479 | $3,034 | $224,614 | $120,000 |
Save $266,407 and pay off 11y 8m earlier
Balance over time
Remaining mortgage with vs without overpayment
Year-by-Year Breakdown
Remaining balance, interest and overpayments each year
| Year | Remaining Balance | Installment | Interest (cumulative) | Overpaid (cumulative) |
|---|---|---|---|---|
| 1 | $382,158 | $3,034 | $30,571 | $12,000 |
| 2 | $362,873 | $3,034 | $59,700 | $24,000 |
| 3 | $342,028 | $3,034 | $87,269 | $36,000 |
| 4 | $319,499 | $3,034 | $113,153 | $48,000 |
| 5 | $295,148 | $3,034 | $137,216 | $60,000 |
| 6 | $268,828 | $3,034 | $159,309 | $72,000 |
| 7 | $240,381 | $3,034 | $179,275 | $84,000 |
| 8 | $209,633 | $3,034 | $196,941 | $96,000 |
| 9 | $176,400 | $3,034 | $212,121 | $108,000 |
| 10 | $140,479 | $3,034 | $224,614 | $120,000 |
Your mortgage
Change any number — nothing is saved
$12,000 a year straight off the principal
Your overpayment impact
Key numbers with your overpayment applied
Interest saved
Time saved
Total interest
Total paid
Monthly installment
Payoff term
A mortgage overpayment is any amount you pay on top of your required monthly installment. Because the extra payment reduces the outstanding principal straight away, you pay interest on a smaller balance for the rest of the loan.
This calculator compares your mortgage with and without an overpayment so you can see exactly how much interest you save and how much sooner you become mortgage-free.
Want the full story? Mortgage overpayment vs investing the difference
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