Accelerated Mortgage Repayment Calculator


This calculator shows homeowners how much interest they will save and how much faster they will pay off their home loan if they make extra payments on their mortgage using any of the following methods:

  • additional payments: add a bit extra to each monthly payment
  • biweekly payments: owners pay half of their monthly principal and interest payment every other week, effectively creating the equivalent of a 13th monthly payment per year
  • both: make biweekly payments with extra

The calculator will show how much faster each scenario will pay off the loan, how much interest you will save, and how much your investments may return if you put your savings into other investments.

Your Current Mortgage Info

Original loan amount:
Mortgage interest rate (APR %):
Original loan term in years:
Total monthly payment (including tax & insurance):
Number of payments already made:
Amount you could comfortably add to each monthly payment:
Estimated annual return on your investments (APY %):

Current Payment Status

Current mortgage payment less escrow (P&I portion):
Interest you've already paid:
Current approximate balance of your mortgage:
Results Current Current + Extra Biweekly Biweekly + Extra
Full mortgage payment:
Mortgage P&I payment:
Years to pay off:
Interest savings:
Monthly payments eliminated:
Total payment savings:
Equity after 5 years:
Equity after 10 years:
Balance due after years:
Savings Current Current + Extra Biweekly Biweekly + Extra
Average monthly savings:
Average annual savings:
Equivalent interest rate:
Investment returns:
Cash available after years:

Create Amortization Schedules

Date next payment due:
Payment Schedules:

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