Extra Payment Benefit Calculator
See how making extra payments on your mortgage can save you time and money by paying off your loan faster and reducing total interest paid.
Loan Details
Your Potential Savings
Time Saved
Interest Saved
Enter your loan details to see your personalized savings
Why Make Extra Payments?
Making extra payments on your mortgage can dramatically reduce your total interest and help you own your home years sooner.
Pay Off Faster
Extra payments go directly to principal, reducing your loan term by years
Save Thousands
Reduce total interest paid over the life of your loan significantly
Build Equity
Own more of your home faster by reducing principal balance
Try an Example Scenario:
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*The calculations provided by this calculator are estimates for educational purposes only and should not be considered as guaranteed rates or financial advice. Your actual savings, payments, and payoff dates will depend on various factors including your loan terms, payment history, and any changes in interest rates or extra payments.
This calculator assumes extra payments are applied monthly starting immediately and go directly to principal. Actual results may vary based on your lender's policies. NewFed Mortgage encourages you to connect with one of our experienced loan officers for personalized advice and accurate calculations tailored to your situation.
Payoff dates are estimated based on the current date. For precise information, consult with a loan professional.
NewFed Mortgage NMLS #1881 | Equal Housing Lender
