Extra Mortgage Payment Calculator
Calculate impact of extra mortgage payments on your loan. Find the optimal extra payment amount.
Extra Payment Strategies
Extra payment strategies: Round up, biweekly, annual bonus, monthly extra
Payoff Methods
- Bi-weekly: 26 half-payments = 13 full payments/year
- Round Up: Round EMI to next thousand
- Windfalls: Apply bonuses to principal
Frequently Asked Questions
What is the best extra payment strategy?
Any extra is good. Even rounding up EMI or one extra payment per year helps significantly.
Should I pay extra or invest?
If investment returns exceed mortgage rate after tax, investing may be better.