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Additional Monthly Principal Payment Calculator

Compare Additional Payment vs. Interest Saved!

This calculator shows the additional monthly payment needed to make on your current mortgage to pay it off within a specified number of years. It will also show how much interest you will save if you make the calculated additional payment each month, from now until your mortgage is paid off. For Principle balance owed include only your "mortgage payoff" balance. For the current monthly payment amount, include only  "principle and interest," DO NOT include the monthly escrow account payments of taxes and insurance

NOTE: Be sure to enter "0" (zero) in any entry boxes that don't apply to you. Also be sure that ONLY numbers and decimal points are entered into the fields (dollar signs and other non-numeric characters will cause a JavaScript error).

Enter the principal balance owed:
Enter the annual interest rate:
Enter the current monthly payment amount:
Number of years you would like to pay off your mortgage in:
Additional monthly payment required:
Interest savings:

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