Loan Calculator With Extra Payment


Use the loan calculator with extra payments to calculate the savings from interest payments by making additional principal payments each month. The extra payment calculator will calculate how much earlier you can payoff your loan.

Extra Payment Loan Calculator

Loan Amount
$
Loan Terms
Interest Rate
Payment Frequency
First Payment Date

Amortization Schedule
Extra Payments
One Time
$ On Date
Monthly or Biweekly
$ Starting Date
Quarterly
$ Starting Date
Yearly
$ Starting Date

Extra Payment Loan Calculator

Mortgage Amount: $40,000.00
Monthly Principal & Interest: $708.68
Monthly Extra Payment: $300.00
Total Monthly Payment:
$1,008.68
Total # Of Payments: 47
Start Date: Nov, 2024
Payoff Date: Sep, 2028
Principal: $26,200.00
Total Extra Payment: $13,800.00
Total Interest Paid: $6,993.86
Total of all Payments:
$46,993.86

Amortization Schedule With Extra Payment

Payment Date Payment # Interest Principal Extra Payment Total Payment Balance
Nov, 2024 1 $279.17 $429.51 $300.00 $1,008.68 $39,270.49
Dec, 2024 2 $274.08 $434.60 $300.00 $1,008.68 $38,535.89
Jan, 2025 3 $268.95 $439.73 $300.00 $1,008.68 $37,796.16
Feb, 2025 4 $263.79 $444.89 $300.00 $1,008.68 $37,051.27
Mar, 2025 5 $258.59 $450.09 $300.00 $1,008.68 $36,301.18
Apr, 2025 6 $253.35 $455.32 $300.00 $1,008.68 $35,545.86
May, 2025 7 $248.08 $460.60 $300.00 $1,008.68 $34,785.26
Jun, 2025 8 $242.77 $465.90 $300.00 $1,008.68 $34,019.36
Jul, 2025 9 $237.43 $471.25 $300.00 $1,008.68 $33,248.11
Aug, 2025 10 $232.04 $476.63 $300.00 $1,008.68 $32,471.47
Sep, 2025 11 $226.62 $482.05 $300.00 $1,008.68 $31,689.42
Oct, 2025 12 $221.17 $487.51 $300.00 $1,008.68 $30,901.91
Nov, 2025 13 $215.67 $493.01 $300.00 $1,008.68 $30,108.90
Dec, 2025 14 $210.14 $498.54 $300.00 $1,008.68 $29,310.36
Jan, 2026 15 $204.56 $504.11 $300.00 $1,008.68 $28,506.25
Feb, 2026 16 $198.95 $509.73 $300.00 $1,008.68 $27,696.52
Mar, 2026 17 $193.30 $515.38 $300.00 $1,008.68 $26,881.14
Apr, 2026 18 $187.61 $521.07 $300.00 $1,008.68 $26,060.08
May, 2026 19 $181.88 $526.80 $300.00 $1,008.68 $25,233.28
Jun, 2026 20 $176.11 $532.57 $300.00 $1,008.68 $24,400.71
Jul, 2026 21 $170.30 $538.38 $300.00 $1,008.68 $23,562.33
Aug, 2026 22 $164.45 $544.23 $300.00 $1,008.68 $22,718.10
Sep, 2026 23 $158.55 $550.12 $300.00 $1,008.68 $21,867.97
Oct, 2026 24 $152.62 $556.06 $300.00 $1,008.68 $21,011.92
Nov, 2026 25 $146.65 $562.03 $300.00 $1,008.68 $20,149.89
Dec, 2026 26 $140.63 $568.05 $300.00 $1,008.68 $19,281.84
Jan, 2027 27 $134.57 $574.11 $300.00 $1,008.68 $18,407.74
Feb, 2027 28 $128.47 $580.21 $300.00 $1,008.68 $17,527.53
Mar, 2027 29 $122.33 $586.35 $300.00 $1,008.68 $16,641.18
Apr, 2027 30 $116.14 $592.53 $300.00 $1,008.68 $15,748.65
May, 2027 31 $109.91 $598.76 $300.00 $1,008.68 $14,849.88
Jun, 2027 32 $103.64 $605.04 $300.00 $1,008.68 $13,944.85
Jul, 2027 33 $97.32 $611.35 $300.00 $1,008.68 $13,033.49
Aug, 2027 34 $90.96 $617.71 $300.00 $1,008.68 $12,115.78
Sep, 2027 35 $84.56 $624.12 $300.00 $1,008.68 $11,191.66
Oct, 2027 36 $78.11 $630.57 $300.00 $1,008.68 $10,261.09
Nov, 2027 37 $71.61 $637.06 $300.00 $1,008.68 $9,324.03
Dec, 2027 38 $65.07 $643.60 $300.00 $1,008.68 $8,380.43
Jan, 2028 39 $58.49 $650.19 $300.00 $1,008.68 $7,430.24
Feb, 2028 40 $51.86 $656.82 $300.00 $1,008.68 $6,473.42
Mar, 2028 41 $45.18 $663.50 $300.00 $1,008.68 $5,509.92
Apr, 2028 42 $38.45 $670.22 $300.00 $1,008.68 $4,539.70
May, 2028 43 $31.68 $676.99 $300.00 $1,008.68 $3,562.71
Jun, 2028 44 $24.86 $683.81 $300.00 $1,008.68 $2,578.90
Jul, 2028 45 $18.00 $690.68 $300.00 $1,008.68 $1,588.22
Aug, 2028 46 $11.08 $697.59 $300.00 $1,008.68 $590.63
Sep, 2028 47 $4.12 $590.63 $0.00 $594.75 $0.00

Compare Monthly vs. Bi-weekly

Payment Frequency Monthly Bi-weekly
Payments / Year 12 26
Each Payment $1,008.68 $654.34
Total Extra Payments $13,800.00 $20,400.00
Total Interest $6,993.86 $4,617.82
Total Tax, Insurance, PMI & Fees $0.00 $0.00
Total Payment $46,993.86 $44,617.82
Total Savings $0 $2,376.05
Payoff Date Sep, 2028 Jun, 2027


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