Nashville, TN(615) 555-0182[email protected]Demonstration site — not a lender
Willow CreekHome Finance
Run the numbers

The bench

What an extra hundred a month actually buys

A recurring extra, a one-off lump sum, or both — against the interest they remove and the months they take off the end.

Extra paymentIllustrative figures onlyShareable as a link

Your numbers

It recalculates as you type — there is no submit button, and nothing is sent anywhere.

Interest removed

$111,892

5 yr 7 mo taken off the term

Payment without the extra
$2,528.27
Payment with the extra
$2,728.27
Original payoff
30 yr
New payoff
24 yr 5 mo
Interest without the extra
$510,178
Interest with the extra
$398,286
Interest saved
$111,892
Total extra paid in
$58,600
Return on the extra
191¢ saved per $1
Balance with and without the extra payment
$0$200k$400kyr 5yr 10yr 15yr 20yr 25yr 30paid off
As scheduledWith the extra

The schedule

PeriodPaymentInterestPrincipalMortgage ins.BalanceInterest to date
Month 1$2,728.27$2,166.67$561.61—$399,438$2,167
Month 2$2,728.27$2,163.62$564.65—$398,874$4,330
Month 3$2,728.27$2,160.57$567.71—$398,306$6,491
Month 4$2,728.27$2,157.49$570.78—$397,735$8,648
Month 5$2,728.27$2,154.40$573.87—$397,161$10,803
Month 6$2,728.27$2,151.29$576.98—$396,584$12,954
Month 7$2,728.27$2,148.17$580.11—$396,004$15,102
Month 8$2,728.27$2,145.02$583.25—$395,421$17,247
Month 9$2,728.27$2,141.86$586.41—$394,835$19,389
Month 10$2,728.27$2,138.69$589.58—$394,245$21,528
Month 11$2,728.27$2,135.49$592.78—$393,652$23,663
Month 12$2,728.27$2,132.28$595.99—$393,056$25,796
Month 13$2,728.27$2,129.05$599.22—$392,457$27,925
Month 14$2,728.27$2,125.81$602.46—$391,855$30,050
Month 15$2,728.27$2,122.55$605.73—$391,249$32,173
Month 16$2,728.27$2,119.26$609.01—$390,640$34,292
Month 17$2,728.27$2,115.97$612.31—$390,028$36,408
Month 18$2,728.27$2,112.65$615.62—$389,412$38,521
Month 19$2,728.27$2,109.31$618.96—$388,793$40,630
Month 20$2,728.27$2,105.96$622.31—$388,171$42,736
Month 21$2,728.27$2,102.59$625.68—$387,545$44,839
Month 22$2,728.27$2,099.20$629.07—$386,916$46,938
Month 23$2,728.27$2,095.79$632.48—$386,283$49,034
Month 24$2,728.27$2,092.37$635.90—$385,648$51,126
Month 25$2,728.27$2,088.92$639.35—$385,008$53,215
Month 26$2,728.27$2,085.46$642.81—$384,365$55,300
Month 27$2,728.27$2,081.98$646.29—$383,719$57,382
Month 28$2,728.27$2,078.48$649.79—$383,069$59,461
Month 29$2,728.27$2,074.96$653.31—$382,416$61,536
Month 30$2,728.27$2,071.42$656.85—$381,759$63,607
Month 31$2,728.27$2,067.86$660.41—$381,099$65,675
Month 32$2,728.27$2,064.28$663.99—$380,435$67,739
Month 33$2,728.27$2,060.69$667.58—$379,767$69,800
Month 34$2,728.27$2,057.07$671.20—$379,096$71,857
Month 35$2,728.27$2,053.44$674.84—$378,421$73,911
Month 36$2,728.27$2,049.78$678.49—$377,743$75,960
Month 37$2,728.27$2,046.11$682.17—$377,060$78,007
Month 38$2,728.27$2,042.41$685.86—$376,375$80,049
Month 39$2,728.27$2,038.70$689.58—$375,685$82,088
Month 40$2,728.27$2,034.96$693.31—$374,992$84,123
Month 41$2,728.27$2,031.21$697.07—$374,295$86,154
Month 42$2,728.27$2,027.43$700.84—$373,594$88,181
Month 43$2,728.27$2,023.63$704.64—$372,889$90,205
Month 44$2,728.27$2,019.82$708.46—$372,181$92,225
Month 45$2,728.27$2,015.98$712.29—$371,468$94,241
Month 46$2,728.27$2,012.12$716.15—$370,752$96,253
Month 47$2,728.27$2,008.24$720.03—$370,032$98,261
Month 48$2,728.27$2,004.34$723.93—$369,308$100,265
Month 49$2,728.27$2,000.42$727.85—$368,580$102,266
Month 50$2,728.27$1,996.48$731.79—$367,849$104,262
Month 51$2,728.27$1,992.51$735.76—$367,113$106,255
Month 52$2,728.27$1,988.53$739.74—$366,373$108,243
Month 53$2,728.27$1,984.52$743.75—$365,629$110,228
Month 54$2,728.27$1,980.49$747.78—$364,882$112,208
Month 55$2,728.27$1,976.44$751.83—$364,130$114,185
Month 56$2,728.27$1,972.37$755.90—$363,374$116,157
Month 57$2,728.27$1,968.28$760.00—$362,614$118,125
Month 58$2,728.27$1,964.16$764.11—$361,850$120,090
Month 59$2,728.27$1,960.02$768.25—$361,082$122,050
Month 60$2,728.27$1,955.86$772.41—$360,309$124,005
Month 61$2,728.27$1,951.67$776.60—$359,533$125,957
Month 62$2,728.27$1,947.47$780.80—$358,752$127,905
Month 63$2,728.27$1,943.24$785.03—$357,967$129,848
Month 64$2,728.27$1,938.99$789.29—$357,177$131,787
Month 65$2,728.27$1,934.71$793.56—$356,384$133,722
Month 66$2,728.27$1,930.41$797.86—$355,586$135,652
Month 67$2,728.27$1,926.09$802.18—$354,784$137,578
Month 68$2,728.27$1,921.75$806.53—$353,977$139,500
Month 69$2,728.27$1,917.38$810.90—$353,166$141,417
Month 70$2,728.27$1,912.98$815.29—$352,351$143,330
Month 71$2,728.27$1,908.57$819.70—$351,531$145,239
Month 72$2,728.27$1,904.13$824.14—$350,707$147,143
Month 73$2,728.27$1,899.66$828.61—$349,879$149,042
Month 74$2,728.27$1,895.18$833.10—$349,046$150,938
Month 75$2,728.27$1,890.66$837.61—$348,208$152,828
Month 76$2,728.27$1,886.13$842.15—$347,366$154,714
Month 77$2,728.27$1,881.56$846.71—$346,519$156,596
Month 78$2,728.27$1,876.98$851.29—$345,668$158,473
Month 79$2,728.27$1,872.37$855.90—$344,812$160,345
Month 80$2,728.27$1,867.73$860.54—$343,951$162,213
Month 81$2,728.27$1,863.07$865.20—$343,086$164,076
Month 82$2,728.27$1,858.38$869.89—$342,216$165,935
Month 83$2,728.27$1,853.67$874.60—$341,342$167,788
Month 84$2,728.27$1,848.93$879.34—$340,462$169,637
Month 85$2,728.27$1,844.17$884.10—$339,578$171,481
Month 86$2,728.27$1,839.38$888.89—$338,689$173,321
Month 87$2,728.27$1,834.57$893.71—$337,796$175,155
Month 88$2,728.27$1,829.73$898.55—$336,897$176,985
Month 89$2,728.27$1,824.86$903.41—$335,994$178,810
Month 90$2,728.27$1,819.97$908.31—$335,085$180,630
Month 91$2,728.27$1,815.05$913.23—$334,172$182,445
Month 92$2,728.27$1,810.10$918.17—$333,254$184,255
Month 93$2,728.27$1,805.13$923.15—$332,331$186,060
Month 94$2,728.27$1,800.13$928.15—$331,403$187,860
Month 95$2,728.27$1,795.10$933.17—$330,469$189,655
Month 96$2,728.27$1,790.04$938.23—$329,531$191,445
Month 97$2,728.27$1,784.96$943.31—$328,588$193,230
Month 98$2,728.27$1,779.85$948.42—$327,640$195,010
Month 99$2,728.27$1,774.71$953.56—$326,686$196,785
Month 100$2,728.27$1,769.55$958.72—$325,727$198,554
Month 101$2,728.27$1,764.36$963.92—$324,763$200,319
Month 102$2,728.27$1,759.13$969.14—$323,794$202,078
Month 103$2,728.27$1,753.89$974.39—$322,820$203,832
Month 104$2,728.27$1,748.61$979.66—$321,840$205,580
Month 105$2,728.27$1,743.30$984.97—$320,855$207,324
Month 106$2,728.27$1,737.97$990.31—$319,865$209,062
Month 107$2,728.27$1,732.60$995.67—$318,869$210,794
Month 108$2,728.27$1,727.21$1,001.06—$317,868$212,521
Month 109$2,728.27$1,721.79$1,006.49—$316,862$214,243
Month 110$2,728.27$1,716.33$1,011.94—$315,850$215,960
Month 111$2,728.27$1,710.85$1,017.42—$314,832$217,670
Month 112$2,728.27$1,705.34$1,022.93—$313,809$219,376
Month 113$2,728.27$1,699.80$1,028.47—$312,781$221,076
Month 114$2,728.27$1,694.23$1,034.04—$311,747$222,770
Month 115$2,728.27$1,688.63$1,039.64—$310,707$224,458
Month 116$2,728.27$1,683.00$1,045.27—$309,662$226,141
Month 117$2,728.27$1,677.34$1,050.94—$308,611$227,819
Month 118$2,728.27$1,671.64$1,056.63—$307,554$229,490
Month 119$2,728.27$1,665.92$1,062.35—$306,492$231,156
Month 120$2,728.27$1,660.16$1,068.11—$305,424$232,817

First 120 payments shown without JavaScript. With JavaScript the table switches between month-wise and year-wise views and pages through the whole schedule.

What this is doing

  • Extra principal does not lower the required payment — it shortens the loan. If you need a lower payment, this is not the tool.
  • Automatic PMI termination is not accelerated by extra payments; the Homeowners Protection Act ties it to the original schedule. You can still request cancellation once the actual balance is low enough, which is a different route.
  • Every figure here is illustrative. It is generated from the numbers you typed using published rules, and it is not a rate quote, a pre-qualification, or an offer of credit.

The rule this page applies

An extra payment reduces the balance immediately, so every future interest charge is computed on a smaller number. The saving compounds, which is why a small extra early is worth far more than the same extra late.

Source: Standard amortisation

Share this scenario

Your inputs are the state, and the state is the URL. Copying the link copies the exact scenario on screen.

Questions people ask about this one

Is paying extra better than investing?

Paying extra earns a guaranteed return equal to your mortgage rate, tax treatment aside. An investment might earn more and might earn less. This calculator answers only the first half of that question; the rent-versus-buy page models the other side.

Does it matter when in the year I pay extra?

Earlier is better, always. Every month a dollar sits on the balance is a month of interest it does not accrue. A lump sum in month 12 saves noticeably more than the same sum in month 120.

Will my servicer apply it to principal?

Only if you tell them to. Unmarked extra money is often held as a prepaid future instalment rather than applied to principal, which saves nothing.

Take this scenario to a person

Marked fields are required. Everything else is optional — a broker only needs enough to call you back and know what you are asking about.

This form does not send anything. It validates what you type and shows a confirmation. Nothing is stored in a database, nothing is emailed, and nobody will call you. Willow Creek Home Finance is a fictional company built to demonstrate a design system.

The rest of the bench

Monthly payment

Principal, interest, taxes, insurance, mortgage insurance and HOA — drawn as five separate threads, not folded into one number.

Amortisation

The full schedule, switchable month-wise and year-wise, with a running total and the crossover month called out.

Affordability

Income, debts and cash in, a defensible price out — and a plain statement of which of the three constraints is the one actually holding the number down.

Refinance

Costs divided by monthly saving is the answer most sites give, and it ignores the fact that a new 30-year term restarts the clock. Both numbers are shown here.

Rent vs buy

Both households start with the same cash. Whichever is cheaper in a given month invests the difference; whichever is dearer draws it down. That symmetry is the whole argument.

FHA MIP

The upfront premium, the annual premium, and the part almost every calculator gets wrong: whether it ever comes off.

VA purchase

The VA funding fee changes with the down payment and with whether it is your first use of the entitlement. Exempt borrowers pay none of it.

VA refinance

An IRRRL carries a 0.50% funding fee; a VA cash-out carries 2.15% or 3.30%. Both are shown against a true break-even.

Points

One point is one percent of the loan, paid today, for a lower rate for as long as you keep it. The only question that matters is how long that is.

HELOC

Interest-only while you draw, then a fully amortising payment that can be several times larger. Both are shown, because the second one is the surprise.

DSCR

Debt-service coverage divides the rent the property brings in by what the property costs to carry. Most lenders want 1.20 or better.

Fix & flip

Acquisition, rehab, points, interest, holding costs and selling costs against the after-repair value — with the cash you actually have to put in.