← All Extra $200/Month calculations
Add $200 to principal with every monthly payment. Monthly principal & interest: $1,975.60.
Free calculators for everyone — the 5–7 Year Alternative serves USA residents only.
Pay off your mortgage in 5–7 years instead of 30. *With qualification.
See if you qualify →For USA residents only.
| # | Strategy | Monthly payment | Payoff | Interest saved |
|---|---|---|---|---|
| 01 | Refinance to 15-Year | $4,287.11 | 15.0 yrs | $-60,463 |
| 02 | Extra $500/Month | $1,975.60 | 21.9 yrs | $61,665 |
| 03 | $5,000 Yearly Lump Sum | $1,975.60 | 23.0 yrs | $52,300 |
| 04 | Extra $200/Month | $1,975.60 | 26.1 yrs | $30,039 |
| 05 | Bi-Weekly Payments | $1,975.60 | 26.7 yrs | $25,766 |
| 06 | Recast with $25K | $1,975.60 | 27.9 yrs | $25,278 |
| 07 | Standard 30-Year | $1,975.60 | 30.0 yrs | $0 |
Every month, on top of your required payment, you send an extra $200 earmarked for principal. It is the smallest change on this page — and it still takes years off the loan.
An extra $200 applied to principal with each of the 360 scheduled monthly payments, starting month one.
Take the free quiz to see if you qualify for a structured payoff plan.
See if you qualify →For USA residents only
Calculations are illustrative only, based on the assumptions shown. Not financial advice, not a promise of savings or payoff time, and not a loan quote.