See interest saved and years cut by overpaying your mortgage. Add monthly extra or lump sum to get new payoff date and schedule offline.
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Quick answer: Mortgage Overpayment Calculator — Extra pay savings Free, no signup, runs in your browser. See below for the interactive tool, 4-step guide and FAQs.
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Both cut principal, but monthly extra compounds faster while lump sums suit windfalls. For example, $200 extra monthly on a $250,000 loan at 6% saves more interest than a single $10,000 payment in year 5. Test $200 versus $400 extra in the tool to compare years cut and see /terms.
No. It is an estimate on a fixed rate, excluding taxes, penalties, and lender caps. Overpayment allowances and early-repayment charges vary by lender. For example, some loans cap extra payments yearly. Check your lender terms and see /terms before overpaying.
Yes. Overpay balance math stays fully in-tab here. Extra-pay sums run on your device here with no share and no login. For example, $200,000 stays local, runs offline, and erases on close instantly. Nothing is kept locally. Planning guidance only, not lending advice. See /terms.
Because early principal reductions suppress 360 months of 0.5% monthly accrual, $200 times 12 ($2,400 yearly) from month one compounds across 23 years, while $10,000 in year 5 misses 60 months compounding. Timing outweighs size. Model month-one versus year-five starts here. See /terms.
Compare guaranteed 6% after-tax saving (~$70,000 on $250,000 with $200 extra) against volatile 8% market hoping $95,000 before levies and drawdowns. Debt-averse borrowers prize certainty and lien freedom; return chasers tolerate swings. Model both paths, keep emergency reserves. Strategy contrast only, not investment counsel. See /terms.
Overpayment injects additional principal beyond scheduled EMI, shrinking the interest-bearing balance so subsequent charges fall and tenure compresses. A $250,000 loan at 6% for 30 years normally costs $1,499 EMI and $289,000 interest; adding $200 monthly trims payoff to about 23 years and saves near $70,000. Impact table motivates persistence: | Extra monthly | Payoff | Interest saved | $0 | 30yr | $0 | $200 | 23yr | $70,000 | $400 | 19yr | $110,000 |. Doubling extra nearly doubles redemption. Our mortgage overpayment calculator reveals new payoff date, interest rescued, and months eliminated privately offline. Edge case: lenders capping annual overpayments at 10% force splitting windfalls across January. Limitation: fixed-rate projection ignores resets, penalties, and foregone investment compounding. Contrast refinancing via /refinance-calculator. Prepayment illustration only, not lending advice. See /terms.
Recurring extras compound every installment, while isolated lumps slash balance once, so habitual overpayments generally dominate equal totals paid early. For example, $200 monthly ($2,400 yearly) from start on $250,000 at 6% outperforms a solitary $10,000 injection in year 5 by roughly $18,000 saved interest. Strategy face-off table: | Strategy $250k 6% | Total extra 5yr | Interest saved | $200 monthly | $12,000 | $28,000 | $10k lump yr5 | $10,000 | $10,500 | $400 monthly | $24,000 | $52,000 |. Steady discipline beats windfall timing. Edge case: offset-linked mortgages parking cash preserve liquidity while mimicking overpayment mathematically. Limitation: assumes allowance headroom, ignoring early-repayment charges and offset fees. Examine base installments via /mortgage-calculator. Comparative mechanics only, never personal debt counsel. See /terms.
Enter $250,000 balance, 6%, 30 years, $200 extra, $5,000 lump to see about $75,000 combined saving, 84 months cut, and payoff in year 23, then raise to $400 extra to approach 19 years and $110,000 saved. Payoff matrix sharpens resolve: | Extra | Lump $5k | Payoff | Saved | $200 | Yes | 23yr | $75,000 | $200 | No | 23.5yr | $70,000 | $400 | No | 19yr | $110,000 |. Lump adds $5,000 incremental rescue. Edge case: directing $200 to 19% cards instead rescues triple interest, so clear revolving first. Limitation: fixed schedule excludes penalties, payment holidays, and tax-relief erosion on deductible interest. Model affordability headroom via /home-affordability-calculator. Informational prepayment walkthrough only, not professional mortgage guidance before overpaying judiciously. See /terms.