◆ ChoiceBridge

Extra $500/Month

The sweet spot for many budgets. Browse what an extra $500 a month does across every loan size and rate.

Free calculators for everyone — the 5–7 Year Alternative serves USA residents only.

Featured alternative

The 5–7 Year Alternative

Pay off your mortgage in 5–7 years instead of 30. *With qualification.

See if you qualify →

For USA residents only.

“Saving a $100k in interest!”
“We were looking at 14 years on our mortgage it went down to four years. We're gonna go ahead and probably pay off a loan within the next, 90 days or so. We'll probably end up saving a hundred thousand dollars in interest!”
Lynn Markham — Business Owner ★★★★★

How it works

Every month, on top of your required payment, you send an extra $500 earmarked for principal. For many households this is the sweet spot between meaningful acceleration and a livable budget.

Browse every loan size & rate

Pick your loan balance, then the rate closest to yours, to open the dedicated calculation.

$200K

2%2.5%3%3.5%4%4.5%5%5.5%6%6.5%7%7.5%8%8.5%9%9.5%10%

$250K

2%2.5%3%3.5%4%4.5%5%5.5%6%6.5%7%7.5%8%8.5%9%9.5%10%

$300K

2%2.5%3%3.5%4%4.5%5%5.5%6%6.5%7%7.5%8%8.5%9%9.5%10%

$350K

2%2.5%3%3.5%4%4.5%5%5.5%6%6.5%7%7.5%8%8.5%9%9.5%10%

$400K

2%2.5%3%3.5%4%4.5%5%5.5%6%6.5%7%7.5%8%8.5%9%9.5%10%

$450K

2%2.5%3%3.5%4%4.5%5%5.5%6%6.5%7%7.5%8%8.5%9%9.5%10%

$500K

2%2.5%3%3.5%4%4.5%5%5.5%6%6.5%7%7.5%8%8.5%9%9.5%10%

$550K

2%2.5%3%3.5%4%4.5%5%5.5%6%6.5%7%7.5%8%8.5%9%9.5%10%

$600K

2%2.5%3%3.5%4%4.5%5%5.5%6%6.5%7%7.5%8%8.5%9%9.5%10%

$650K

2%2.5%3%3.5%4%4.5%5%5.5%6%6.5%7%7.5%8%8.5%9%9.5%10%

$700K

2%2.5%3%3.5%4%4.5%5%5.5%6%6.5%7%7.5%8%8.5%9%9.5%10%

$750K

2%2.5%3%3.5%4%4.5%5%5.5%6%6.5%7%7.5%8%8.5%9%9.5%10%

$800K

2%2.5%3%3.5%4%4.5%5%5.5%6%6.5%7%7.5%8%8.5%9%9.5%10%

$850K

2%2.5%3%3.5%4%4.5%5%5.5%6%6.5%7%7.5%8%8.5%9%9.5%10%

$900K

2%2.5%3%3.5%4%4.5%5%5.5%6%6.5%7%7.5%8%8.5%9%9.5%10%

$950K

2%2.5%3%3.5%4%4.5%5%5.5%6%6.5%7%7.5%8%8.5%9%9.5%10%

$1M

2%2.5%3%3.5%4%4.5%5%5.5%6%6.5%7%7.5%8%8.5%9%9.5%10%

Assumptions

An extra $500 applied to principal with each scheduled monthly payment, starting month one.

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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.