Enter your loan, then add a little extra to principal each month. Watch the interest and the years drop.
| As scheduled | With extra | |
|---|---|---|
| Total interest | ||
| Monthly payment | ||
| Paid off |
Write "apply to principal" on every extra payment, or set it up that way in your lender's portal. Otherwise the bank may just hold it toward next month's payment.
Thinking about buying, selling or refinancing in New Jersey? I'll walk you through what this means for your home, with no pressure.
justin@agentjustin.comEstimates only. Figures cover principal and interest on a fixed-rate loan and leave out taxes, insurance and PMI. Check your lender's prepayment rules before paying extra. This is not a loan offer or financial advice; talk to your lender or financial advisor about your situation.