The Mortgage Ledger

United States

United States overpayment calculator

See how much interest you would save, and how many years you would cut off the mortgage, by paying a little extra each month.

Your mortgage

Paid on top of your normal payment, straight off the principal.

Overpaying $200.00/mo

$91,173

saved in interest over the life of the loan

Time cut off the mortgage
6 yrs 9 mos
Interest without overpaying
$347,515
Interest with overpaying
$256,341
US fixed mortgages rarely charge prepayment penalties today, but check your note — a few still do in the first years. There's no annual limit on extra payments on a standard conforming loan.

An estimate to help you plan — not financial advice. Assumes the extra amount is paid every month for the life of the loan and applied to principal.