Mortgage Overpayment Calculator

See exactly how overpaying your mortgage saves interest and shortens the term.

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Overpayment Impact

Enter your mortgage details and see the effect of overpayments.

Interest saved
$0
Term reduced by 0 yrs
New payoff term
0 yrs
Original term
0 yrs
New total interest
$0
Original total interest
$0

Worked example

With the default inputs shown below, this calculator returns the following results:

InputValue
Loan balance ($)$250,000
Interest rate (%)5.5%
Loan term (years)25
Monthly overpayment ($)$150
ResultValue
Interest saved$40,733
New payoff term20.8 yrs
Original term25.0 yrs
New total interest$169,833
Original total interest$210,566

Values shown are produced by this page in your browser; change any input to update them.

How to use the Overpayment Impact

  1. Loan balance ($) — default $250,000
  2. Interest rate (%) — default 5.5%
  3. Loan term (years) — default 25
  4. Monthly overpayment ($) — default $150
  5. Press Calculate to update the results instantly.

Frequently asked questions

Sources & references