Refinance
Purchase
Loan Options
Apply
Calculators
Mortgage Basics
Learn mortgage basics to better understand your home financing options.
Saving Money
Save more money by learning insider information on mortgages, rates, housing tips, and more.
Purchase
Our mortage consultants can guide you through the home buying journey.
Refinance
Refinancing could help you reach your goals faster. Get to know you options!
Market watch
Everything you need to know about the current housing and mortgage market.
Lifestyle
Stay up to date with the latest trends in home improvement, design, technology, and wellness.
Reverse mortgage
Let us guide you through reverse mortgage qualifications and benefits.
Who we are
Learn how we've grown to be one of the nation's most trusted lenders.
Reviews
Read our reviews from trusted sites and see why our customers see us as the best mortgage lender.
Give back
We're honored to give back to charities and help support the people and communities we serve.
Endorsers
Get to know the radio and television personalities who proudly endorse us.
Awards
We're recognized by local and national companies for our customer service and responsible lending.
Careers
Learn about our collaborative work culture and find open job positions.
Contact us
Contact a mortgage consultant for answers to you home purchase or refinancing questions.
Schedule appointment
Quickly and easily schedule an appointment with a mortgage consultant.
(800) 910-4055
Call
Text
Sign In

Extra Mortgage Payment Calculator

4.8
2,900+ Google reviews
4.9
800+ Zillow reviews
4.9
500+ BBB reviews
Make extra payments each month, pay off your loan faster, and save thousands in overall interest. You will be surprised how fast the savings can add up by paying a bit more each month.
Standard Payment
/mo
Payment with Additional Principal
/mo
Total Savings
Payoff Schedule

Refinance your loan today!

FIND A LOAN PROGRAM
By submitting this form, I am providing express consent for American Financing to contact me, including through the use of an automated dialer, voice or text, at the number above, even if my telephone number is listed on any Do-Not-Call list. I understand that I do not have to consent to receive such calls or text messages in order to purchase goods or services from American Financing.
Paying an additional a month will save you with an earlier payoff schedule of years and months.
ANNUALLYMONTHLY
    Date
      Payment
        Interest
          Principal
            Ending Balance

              Calculator Definitions

              Interest Rate

              The annual cost to borrow money from a lender based on a percentage of the loan amount. Interest rates exclude mortgage "points" and fees charged to get the loan.

              Length of Loan

              The original fixed length of time (usually expressed in years) that a borrower agrees to pay on a mortgage loan until it is paid in full. Common loan terms are 15, 20, and 30 years.

              Original Loan Amount

              The original amount borrowed from a lender to obtain a mortgage loan. This represents the total mortgage amount including fees, points, etc… as stated on the closing disclosure.

              Total Savings

              The combined total amount saved on interest and principal over the life of the loan. This amount excludes additional savings on fees or property tax as a result of a shorter payoff date.

              Payoff Schedule

              The amount of time saved on the current loan schedule by making additional payments toward the principal mortgage balance.

              Additional Principal Payment

              Extra payments applied to the mortgage above the monthly requirement. These payments are typically used to settle existing late charges or fees before being applied to the principal.

              Related Articles

              Ways to Lower Your Mortgage Payment

              3 Ways to Save on Mortgage Interest

              Mortgage Recasting vs Refinancing

              Guide to Paying Your Mortgage Faster