How Extra Payments Can Shorten Your Mortgage

Extra principal payments are one of the simplest ways to reduce total interest and pay off a mortgage sooner. The impact depends on your rate, remaining balance, and how consistently you pay extra.

You can make a one-time lump sum, add a fixed amount each month, or apply windfalls like bonuses and tax refunds.

Use the Extra Payment Calculator to see how different strategies change payoff time and interest savings.

Before you accelerate payments, make sure you still have emergency savings and that high-interest debts are under control.