Mortgage Overpayment Calculator

See how extra monthly payments cut your mortgage interest and clear your loan years earlier. Compare with and without overpayment, switch between shortening the term or lowering the installment, and find your savings instantly. No signup required.

Strategy

How to apply your overpayment

Installment type

When you overpay

266.4K

Save $266,407 and pay off 11y 8m earlier

Balance over time

Remaining mortgage with vs without overpayment

Without overpayment

With overpayment

Without overpayment

With overpayment

Your overpayment impact

Key numbers with your overpayment applied

Interest saved

$266,407

Time saved

11y 8m

Total interest

$243,928

Total paid

$485,514

Monthly installment

$3,034/mo

Payoff term

13y 4m

Year-by-Year Breakdown

Remaining balance, interest and overpayments each year

Year	Remaining Balance	Installment	Interest (cumulative)	Overpaid (cumulative)
1	$382,158	$3,034	$30,571	$12,000
2	$362,873	$3,034	$59,700	$24,000
3	$342,028	$3,034	$87,269	$36,000
4	$319,499	$3,034	$113,153	$48,000
5	$295,148	$3,034	$137,216	$60,000
6	$268,828	$3,034	$159,309	$72,000
7	$240,381	$3,034	$179,275	$84,000
8	$209,633	$3,034	$196,941	$96,000
9	$176,400	$3,034	$212,121	$108,000
10	$140,479	$3,034	$224,614	$120,000

Showing 1–10 of 14 years

1 / 2

266.4K

Save $266,407 and pay off 11y 8m earlier

Balance over time

Remaining mortgage with vs without overpayment

Without overpayment

With overpayment

Without overpayment

With overpayment

Year-by-Year Breakdown

Remaining balance, interest and overpayments each year

Year	Remaining Balance	Installment	Interest (cumulative)	Overpaid (cumulative)
1	$382,158	$3,034	$30,571	$12,000
2	$362,873	$3,034	$59,700	$24,000
3	$342,028	$3,034	$87,269	$36,000
4	$319,499	$3,034	$113,153	$48,000
5	$295,148	$3,034	$137,216	$60,000
6	$268,828	$3,034	$159,309	$72,000
7	$240,381	$3,034	$179,275	$84,000
8	$209,633	$3,034	$196,941	$96,000
9	$176,400	$3,034	$212,121	$108,000
10	$140,479	$3,034	$224,614	$120,000

Showing 1–10 of 14 years

1 / 2

Strategy

How to apply your overpayment

Installment type

When you overpay

Your overpayment impact

Key numbers with your overpayment applied

Interest saved

$266,407

Time saved

11y 8m

Total interest

$243,928

Total paid

$485,514

Monthly installment

$3,034/mo

Payoff term

13y 4m

What it is

A mortgage overpayment is any amount you pay on top of your required monthly installment. Because the extra payment reduces the outstanding principal straight away, you pay interest on a smaller balance for the rest of the loan.

This calculator compares your mortgage with and without an overpayment so you can see exactly how much interest you save and how much sooner you become mortgage-free.

How the math works

How overpayment works: Each month your installment covers interest on the current balance first; the rest reduces the principal. An overpayment goes entirely to principal, shrinking future interest.
Decrease term vs decrease installment: Keep paying the same amount and you finish years earlier (shorten the term). Or keep the term and recalculate to a lower installment — same overpayment, different benefit.
Interest savings: Interest saved = total interest without overpayment − total interest with it. The earlier and more consistently you overpay, the larger the saving.
When NOT to overpay: If your mortgage rate is below what you could safely earn investing, or you have higher-interest debt or no emergency fund, that money may work harder elsewhere.

Assumptions & caveats

A single fixed interest rate is assumed for the whole term; real mortgages often have introductory or variable rates.
No arrangement fees, product fees, or early-repayment charges are modelled.
Check your lender's annual overpayment limit (often 10% of the balance) before committing — exceeding it can trigger penalties.
Figures are estimates for comparison, not a formal mortgage illustration.

Frequently asked questions

Usually yes when your mortgage rate is relatively high and you have no higher-interest debt and a healthy emergency fund. Overpayments give a guaranteed, tax-free return equal to your mortgage rate by avoiding future interest.

Both reduce interest; a lump sum early on saves the most because it removes principal sooner. Regular monthly overpayments are easier to budget and still compound their benefit over time.

Compare your mortgage rate to your expected after-tax investment return. If investments are likely to beat your mortgage rate over your time horizon, investing may build more wealth — but overpaying is lower risk and guaranteed.

Many lenders allow penalty-free overpayments up to a yearly cap (commonly 10% of the outstanding balance). Going over the cap, or overpaying during a fixed-rate deal, can incur early-repayment charges, so always check your terms first.

Track your real mortgage automatically

Add your mortgage in selfinance to monitor the balance, overpayments, and interest saved as you go.

Get started

Your complete financial picture, finally in one place

Join thousands who replaced their spreadsheet juggle and four-app routine with a single, automated view of their net worth, budget, and investments.

Cancel anytime

Sselfinance

Mortgage Overpayment Calculator

Strategy

How to apply your overpayment

Installment type

When you overpay

266.4K

Save $266,407 and pay off 11y 8m earlier

Balance over time

Remaining mortgage with vs without overpayment

Without overpayment

With overpayment

Without overpayment

With overpayment

Your overpayment impact

Key numbers with your overpayment applied

Interest saved

$266,407

Time saved

11y 8m

Total interest

$243,928

Total paid

$485,514

Monthly installment

$3,034/mo

Payoff term

13y 4m

Year-by-Year Breakdown

Remaining balance, interest and overpayments each year

Year	Remaining Balance	Installment	Interest (cumulative)	Overpaid (cumulative)
1	$382,158	$3,034	$30,571	$12,000
2	$362,873	$3,034	$59,700	$24,000
3	$342,028	$3,034	$87,269	$36,000
4	$319,499	$3,034	$113,153	$48,000
5	$295,148	$3,034	$137,216	$60,000
6	$268,828	$3,034	$159,309	$72,000
7	$240,381	$3,034	$179,275	$84,000
8	$209,633	$3,034	$196,941	$96,000
9	$176,400	$3,034	$212,121	$108,000
10	$140,479	$3,034	$224,614	$120,000

Showing 1–10 of 14 years

1 / 2

266.4K

Save $266,407 and pay off 11y 8m earlier

Balance over time

Remaining mortgage with vs without overpayment

Without overpayment

With overpayment

Without overpayment

With overpayment

Year-by-Year Breakdown

Remaining balance, interest and overpayments each year

Year	Remaining Balance	Installment	Interest (cumulative)	Overpaid (cumulative)
1	$382,158	$3,034	$30,571	$12,000
2	$362,873	$3,034	$59,700	$24,000
3	$342,028	$3,034	$87,269	$36,000
4	$319,499	$3,034	$113,153	$48,000
5	$295,148	$3,034	$137,216	$60,000
6	$268,828	$3,034	$159,309	$72,000
7	$240,381	$3,034	$179,275	$84,000
8	$209,633	$3,034	$196,941	$96,000
9	$176,400	$3,034	$212,121	$108,000
10	$140,479	$3,034	$224,614	$120,000

Showing 1–10 of 14 years

1 / 2

Strategy

How to apply your overpayment

Installment type

When you overpay

Your overpayment impact

Key numbers with your overpayment applied

Interest saved

$266,407

Time saved

11y 8m

Total interest

$243,928

Total paid

$485,514

Monthly installment

$3,034/mo

Payoff term

13y 4m

What it is

This calculator compares your mortgage with and without an overpayment so you can see exactly how much interest you save and how much sooner you become mortgage-free.

How the math works

How overpayment works: Each month your installment covers interest on the current balance first; the rest reduces the principal. An overpayment goes entirely to principal, shrinking future interest.
Decrease term vs decrease installment: Keep paying the same amount and you finish years earlier (shorten the term). Or keep the term and recalculate to a lower installment — same overpayment, different benefit.
Interest savings: Interest saved = total interest without overpayment − total interest with it. The earlier and more consistently you overpay, the larger the saving.
When NOT to overpay: If your mortgage rate is below what you could safely earn investing, or you have higher-interest debt or no emergency fund, that money may work harder elsewhere.

Assumptions & caveats

A single fixed interest rate is assumed for the whole term; real mortgages often have introductory or variable rates.
No arrangement fees, product fees, or early-repayment charges are modelled.
Check your lender's annual overpayment limit (often 10% of the balance) before committing — exceeding it can trigger penalties.
Figures are estimates for comparison, not a formal mortgage illustration.

Frequently asked questions

Both reduce interest; a lump sum early on saves the most because it removes principal sooner. Regular monthly overpayments are easier to budget and still compound their benefit over time.

Track your real mortgage automatically

Add your mortgage in selfinance to monitor the balance, overpayments, and interest saved as you go.

Get started

Your complete financial picture, finally in one place

Join thousands who replaced their spreadsheet juggle and four-app routine with a single, automated view of their net worth, budget, and investments.

Cancel anytime

Mortgage Overpayment Calculator

266.4K

266.4K

What it is

How the math works

Assumptions & caveats

Frequently asked questions

Is overpaying my mortgage worth it?

Lump sum or regular monthly overpayments?

Should I overpay my mortgage or invest instead?

Will I be charged for overpaying?

Your complete financial picture, finally in one place

Mortgage Overpayment Calculator

266.4K

266.4K

What it is

How the math works

Assumptions & caveats

Frequently asked questions

Is overpaying my mortgage worth it?

Lump sum or regular monthly overpayments?

Should I overpay my mortgage or invest instead?

Will I be charged for overpaying?

Your complete financial picture, finally in one place