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Mortgage Prepayment Calculator

See how increasing your regular mortgage payments or making lump-sum payments could help you become mortgage-free sooner and reduce interest.

  1. 1Enter detailsAdd your numbers
  2. 2Review costsSee the breakdown
  3. 3See resultsYour estimate updates live

Your details

Change any number — results update instantly.

Your potential savings

1 yrs 10 mos sooner

and approximately $36,069 less interest

$36,069Interest saved
  • Interest — with extra payments — $332,148
  • Interest saved — $36,069

Current mortgage vs. with extra payments

Current monthly payment$3,667
New monthly payment$3,867
Current payoff22 years
New estimated payoff20.2 years
Original estimated interest$368,217
New estimated interest$332,148
Estimated interest saved$36,069

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Calculations provided by this tool are estimates for general informational and educational purposes only and should not be relied upon as financial, mortgage, tax, accounting, investment or legal advice. Actual mortgage payments, qualification requirements, taxes, rebates, closing costs, commissions, rental amounts and other expenses may vary based on the property, lender, municipality, transaction and individual circumstances. Government programs, tax rates, mortgage rules and regulatory requirements may change without notice. Users should confirm all figures and eligibility requirements with the appropriate lender, mortgage professional, lawyer, accountant, municipality, government authority or other qualified professional before making a financial or real estate decision. Kaitlynn Martins and RE/MAX Your Community Realty Inc., Brokerage do not guarantee the accuracy or completeness of calculations generated by this tool.