Run the numbers on a purchase, refinance, home equity loan, or debt consolidation.
See how extra principal payments shorten your loan and cut interest.
Interest saved
$111,892
Paid off sooner by
5 yrs 7 mo
New payoff time
24 yrs 5 mo
Scheduled payment
$2,528
Payment with extra
$2,728
Assumes the extra amount is applied to principal every month starting with the first payment. Check your note for any prepayment terms.
* This estimate is provided for illustrative and informational purposes only and does not constitute a loan approval or commitment to lend. Actual rate, APR, and payment will depend on your credit profile, loan program, and market conditions at the time of rate lock. 1st 2nd Mortgage Co. of N.J., Inc. — NMLS # 115981.