Mortgage & Housing
What happens if I pay extra on my mortgage?
See how much time and interest you save by adding a little extra each month.
Try the calculator
Add your extra payment to see the impact.
What this means
Extra payments reduce principal faster, which cuts total interest and shortens the loan term.
What to do next
Choose a monthly extra amount that fits your budget. Consistency beats occasional large payments.
FAQ
Does every extra payment go to principal?
Most lenders apply extra payments to principal, but confirm with your lender to avoid surprises.
Is a small extra payment worth it?
Even $50 or $100 per month can save years of interest over a 30-year term.