Calculator
Loan Payoff Time
See how much faster you can pay off your loan — and how much interest you save — by making extra repayments each month.
$500,000
$50k$3M
6.50%
1%15%
30 years
5 yrs30 yrs
+$500/mo
$0$5,000
$
These results are estimates only
Your actual borrowing capacity depends on your full financial picture, lender credit policy, and current rates. Click below to get an accurate assessment from one of our brokers — it's free.
Without extra repayments
Monthly repayment$3,160
Time to pay off30 years
Total interest paid$637,722
With +$500/mo extra
Pay off in
20 years, 10 months
9 years, 2 months sooner
New monthly repayment$3,660
Interest saved$222,637