Accelerated Payoff Calculator

See how much time and money you can save by making extra payments or switching to bi-weekly.

Time Saved
4 yrs 9 mos

Pay off by October 2048

Interest Saved
$90,240

Over the life of the loan

Comparison Summary

Standard
Monthly Payment $2,528
Total Interest $446,075
Total Paid $834,330
Accelerated
Monthly Total $2,728
Total Interest $355,835
Total Paid $744,090

Payment Breakdown (Accelerated)

Accelerated payment breakdown chart showing principal vs remaining interest

Payoff Timeline Comparison

Comparison chart showing accelerated vs standard payoff timelines

Speed Up Your Payoff

Paying off your mortgage early is one of the most effective ways to build wealth and reduce financial stress.

How Extra Payments Work

Every extra dollar you pay goes directly toward the principal balance, not interest. Since interest is calculated based on your remaining balance, reducing the principal faster has a compounding effect.

  • Shorter Term: Less time for interest to accrue.
  • Equity Growth: You own 100% of your home sooner.
  • Guaranteed Return: Saving 6% in interest is like earning a 6% risk-free return.

Bi-Weekly Strategy

A bi-weekly schedule simply splits your monthly payment in half and pays it every two weeks. Because there are 52 weeks in a year, you make 26 half-payments, which equals 13 full monthly payments.

  • One extra payment per year automatically.
  • Easier to budget for those who get paid bi-weekly.
  • Often shaves 4-6 years off a 30-year mortgage.