Small extra payments make an outsized dent in a mortgage, because they cut principal that would have accrued interest for decades. Enter your loan to see the interest and years you'd save.
See exactly what extra payments do to your mortgage.
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Because a mortgage front-loads interest: in the early years most of your payment goes to interest, not principal. An extra payment goes entirely to principal, and that principal then never accrues interest again for the remaining decades of the loan. So a modest extra amount, paid consistently, can cut years off the term and save a large multiple of itself in interest.
It depends on your mortgage rate versus your expected investment return, your risk tolerance, and the peace of mind of being debt-free. Paying extra gives a guaranteed 'return' equal to your mortgage rate; investing might return more but isn't guaranteed. Many people do some of both. This calculator quantifies the payoff side so you can weigh it against your other options.
A ready-to-use spreadsheet (Excel & Google Sheets): full amortization with and without extra payments, interest and years saved, and lump-sum scenarios — delivered instantly after checkout. AI-assisted, human-built; not financial advice.
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