Mortgage calculator with extra payments
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Extra-principal payoff
—Enter your loan to compare.
Principal + interest only. No escrow, taxes or insurance. This is not financial advice.
Three paths, one starting point
Your balance over time
Solid green: recast. Dashed ink: baseline. Dotted ink: same lump sum, no recast. Schedule below is the text alternative.
Amortization schedule
This is not financial advice.
Saved scenarios
Save on this browser only, with no account or cloud backup. Saving is your choice.
This is not financial advice.
An extra principal payment reduces the balance on which future interest is calculated. If you keep paying the same monthly principal-and-interest amount, more of later payments can go toward principal and the loan can end earlier.
That is different from lowering the required payment through a recast. Use this page to focus on payoff time rather than a new minimum monthly payment.
Short steps
- Enter your current balance, note rate, remaining months and the lump sum you plan to apply now.
- Calculate to compare the same loan with and without that principal payment.
- Keep the scheduled payment unchanged after the lump sum in the model.
- Ask your servicer how to identify a principal-only payment and whether your loan has restrictions.
Read the payoff result carefully
For each month, interest equals the opening balance times the monthly rate. Principal is the payment minus interest. Cap the last payment at the balance plus that month’s interest.
A payoff estimate is not the amount needed to settle your loan on a particular date. Request an official payoff statement before closing the account. Compare with the recast option if lowering the required payment is your main aim. See the amortization schedule guide.
Method and transparency
Last updated: 6 November 2026. Local technical preview only. This is not financial advice.