Yearly Lump-Sum vs. Periodic Extra Prepayment

Choose between making an extra lump-sum payment each year on the anniversary or adding smaller extras to each period. See which method pays off your mortgage faster.

Your original loan principal.
%
Annual rate on your mortgage.
Total length of your mortgage in years.
How often payments are made.
Additional principal each payment.
An extra payment made once per year.

Your Comparison Results

Your Calculated Base Payment
This is your standard payment, used as the baseline for comparison below.
Standard Mortgage

Payoff Time:

With Extra Periodic Payments

New Payoff Time:

Interest Saved:

With a Yearly Lump-Sum

New Payoff Time:

Interest Saved: