Buyer resources
Extra Mortgage Payments
Your numbers
Use the rate on your loan. The figure shown is only an example.
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Estimate
Estimated time saved
5 years, 3 months
About $115,661 less interest
- Scheduled principal & interestPer month, before the extra payment
- $2,912
- Original payoff28 years
- —
- Payoff with extra payment22 years, 9 months
- —
- Interest, original schedule
- $528,288
- Interest, with extra payment
- $412,627
Dates assume your next payment is due next month.
Worth weighing
Paying down a mortgage early is one use of extra money among several — an emergency reserve, higher-interest debt and retirement savings compete for the same dollars. A financial professional can help you weigh them for your situation.
Keep planning
- Mortgage Payment CalculatorEstimate the full monthly payment — principal and interest, taxes, insurance, HOA and mortgage insurance.
- Homebuying BudgetStart from the monthly amount that feels comfortable and work back to an approximate price range.
- Cash Needed to BuyAdd up the down payment, closing costs and move — and the reserve you want left over afterwards.
Numbers are a starting point, not a decision.
If you would like to talk through what these figures could mean for a search in San Diego County — areas, timing, what to prioritize — Ardra is glad to help. There is no obligation.
This calculator provides estimates for educational purposes only and does not constitute a loan estimate, pre-approval, lending decision or financial advice. Actual rates, taxes, insurance, mortgage insurance, HOA fees, loan programs and closing costs vary. Consult a qualified lender, and where appropriate a tax or financial professional, regarding your circumstances. Check with your loan servicer how extra payments are applied and whether any terms of your loan affect prepayment.