Finance Tools
Additional Principal Payment Calculator
Estimate how much time and interest you can save by making additional principal-only payments on your loan or mortgage.
Inputs
This tool focuses on principal-only extra payments (not a full schedule).
$
%
years
$
Results
Estimated Monthly Payment (P&I)
$1,228.17
Time Saved
5 years
Interest Saved
$38,736.17
Baseline
Payoff time: 25 years
Total interest: $168,452.5
With Additional Principal
Payoff time: 20 years
Total interest: $129,716.33
Note: This estimate assumes a fixed rate and consistent payments. Extra principal is applied monthly.
How to use this additional principal payment calculator
- Enter your loan balance (principal).
- Enter the annual interest rate (APR).
- Enter the remaining term (years).
- Enter an additional principal-only payment amount (monthly).
- Click Calculate to see estimated time saved and interest saved.
Example
For example, if your balance is $200,000 at 5.5% APR with 25 years remaining and you add $150 per month toward principal, this calculator will show:
- How many months/years sooner you could pay off the loan.
- How much interest you could save overall.
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