Making extra payments on your mortgage can be one of the smartest financial decisions, potentially saving you thousands in interest and helping you become debt-free years sooner. This calculator helps you visualize the impact of making additional payments on your mortgage.
Regular additional payments made each month. Even small amounts like €50-€100 can make a significant difference over time.
Lump-sum payments from bonuses, tax returns, or other windfalls that can dramatically reduce your principal.
Reduce Interest Costs
Every extra payment reduces your principal, leading to less interest over the life of the loan
Shorten Loan Term
Extra payments can help you pay off your mortgage months or years ahead of schedule
Build Equity Faster
Additional payments go directly to principal, helping you build equity in your home more quickly
Flexible Commitment
You can adjust or stop extra payments if your financial situation changes
Enter Your Current Loan Information
Input your remaining loan balance, current interest rate, and remaining loan term. You can find these details on your mortgage statement or by contacting your lender.
Choose Your Extra Payment Strategy
Analyze Your Results
Review the detailed breakdown of your savings in both time and money. The graph shows how extra payments affect your loan balance over time.
Check if your mortgage has any prepayment penalties before making extra payments
Ensure extra payments are applied to principal, not future scheduled payments
Consider your other financial goals before committing to extra mortgage payments