← All Extra $200/Month calculations
Add $200 to principal with every monthly payment. Monthly principal & interest: $6,642.54.
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 | $8,145.52 | 15.0 yrs | $925,121 |
| 02 | Bi-Weekly Payments | $6,642.54 | 23.3 yrs | $380,943 |
| 03 | Extra $500/Month | $6,642.54 | 23.8 yrs | $351,281 |
| 04 | $5,000 Yearly Lump Sum | $6,642.54 | 24.8 yrs | $295,112 |
| 05 | Extra $200/Month | $6,642.54 | 27.1 yrs | $169,680 |
| 06 | Recast with $25K | $6,642.54 | 27.5 yrs | $174,389 |
| 07 | Standard 30-Year | $6,642.54 | 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.