Current Loan Details
Outstanding balance from your latest mortgage statement.
Number of months left on the mortgage (e.g. 360 months = 30 years).
Your contractual nominal/effective annual mortgage rate.
Property insurance, PMI, and loan servicing fees.
Extra Principal Payments
Extra cash added directly towards principal every month.
One-off payment (e.g. annual bonus, savings, tax refund).
economizados diretamente em juros bancários
New Payoff Timeline: 16 anos e 9 meses (em vez de 30 anos)
Comparativo de Custos Totais:
Balance Trajectory (Year by Year)
| Year | Original Balance | Balance with Extra Payments | Diferença Amortizada |
|---|---|---|---|
| Ano 1 | $241,667 | $225,667 | $16,000 |
| Ano 2 | $233,333 | $211,333 | $22,000 |
| Ano 3 | $225,000 | $197,000 | $28,000 |
| Ano 4 | $216,667 | $182,667 | $34,000 |
| Ano 5 | $208,333 | $168,333 | $40,000 |
| Ano 6 | $200,000 | $154,000 | $46,000 |
| Ano 7 | $191,667 | $139,667 | $52,000 |
| Ano 8 | $183,333 | $125,333 | $58,000 |
| Ano 9 | $175,000 | $111,000 | $64,000 |
| Ano 10 | $166,667 | $96,667 | $70,000 |
How it works
1
Enter your current principal balance, remaining term in months, and annual interest rate.
2
Add an extra monthly payment or a one-time lump-sum contribution.
3
Select your strategy: 'Reduce Loan Term' or 'Reduce Monthly Payment'.
4
Review total interest savings, your accelerated payoff date, and the year-by-year balance trajectory.
Frequently asked questions
Is it really free?
Yes. The site is supported by ads, so you never pay or need to create an account.
Should I reduce the loan term or the monthly payment?
Shortening the term generates substantially higher interest savings because it eliminates compounding interest cycles. Lowering payments is useful if you need immediate monthly budget flexibility.
Does 100% of my extra payment go towards principal?
Yes. When making an extra amortization payment at your bank, the entire amount goes towards reducing the principal balance rather than paying unaccrued future interest.
Does it work on mobile?
Yes. The page adapts to your screen and does not require installing any app.