See months and interest saved by adding an extra monthly loan payment.
All calculations are done locally in your browser.
Extra principal reduces your balance sooner, so less interest accrues. The earlier and more you prepay, the more you save.
Paying earlier usually saves more. A lump sum today often beats the same total spread over months, but cash flow matters.
Some loans have prepayment penalties or recast rules. Check your lender’s terms before making extra payments.
Try Recast vs Extra, Biweekly Mortgage, and Refinance Break-Even to compare payoff strategies.