Est. term · 30-yr fixed

Payoff Planner

See exactly what an extra dollar toward principal — monthly, once a year, or via biweekly payments — buys you in interest and years off a 30-year mortgage.

Your loan

Loan amount $350,000

Interest rate 6.50%

Base monthly payment (principal & interest) $2,212.24

Extra toward principal

Extra each month $150

Extra lump sum, once a year $1,500

Also compare a biweekly payment plan (half the monthly payment, every two weeks — 26 payments a year instead of 12)

Your custom plan saves

$132,853

in interest vs. the standard 30-year schedule

Payoff moves up 7 yr, 9 mo sooner

New payoff date is 22 yr, 3 mo total

Payoff ruler

Each bar is how far along the 30-year tape a strategy reaches before the loan is paid off.

Y10

Y15

Y20

Y25

Y30

Standard schedule 30 yr

+ $150/month 25 yr, 1 mo

+ $1,500 once a year 25 yr, 11 mo

Biweekly payments 24 yr, 2 mo

Monthly + annual combined 22 yr, 3 mo

Strategy	Payoff time	Total interest paid	Interest saved	Time saved
Standard 30-year schedule	30 yr	$446,406	—	—
Extra $150 every month	25 yr, 1 mo	$359,415	−$86,991	4 yr, 11 mo
Extra $1,500 once a year	25 yr, 11 mo	$374,078	−$72,328	4 yr, 1 mo
Biweekly payments (26/yr)	24 yr, 2 mo	$343,597	−$102,809	5 yr, 10 mo
Combined: monthly + annual extra	22 yr, 3 mo	$313,552	−$132,853	7 yr, 9 mo