Mortgage Overpayment Calculator

Mortgage Overpayment Calculator to calculate how much faster you can pay off your mortgage and how much you can save on interest payments by overpayment. Loan Overpayment Calculator will generate an overpayment amortization schedule that shows the new monthly payment, principal, and interest payments.

Loan Overpayment Calculator
Mortgage Amount	$	Loan Terms	years
Interest Rate		Monthly Overpayment	$

Mortgage Overpayment Calculator Results
Standard Monthly Payment (Principal & Interest):	$719.46
Additional Monthly Payment:	$250.00
New Monthly Payment:	$969.46
Payoff Date:	Mar, 2042
Total Interest Savings:	$71,491.11

Mortgage Overpayment Amortization Schedule
Payment Date	Payment #	Interest Paid	Principal Paid	Total Payment	Remaining Balance
Feb, 2026	1	$600.00	$369.46	$969.46	$119,630.54
Mar, 2026	2	$598.15	$371.31	$969.46	$119,259.23
Apr, 2026	3	$596.30	$373.16	$969.46	$118,886.07
May, 2026	4	$594.43	$375.03	$969.46	$118,511.04
Jun, 2026	5	$592.56	$376.91	$969.46	$118,134.13
Jul, 2026	6	$590.67	$378.79	$969.46	$117,755.34
Aug, 2026	7	$588.78	$380.68	$969.46	$117,374.66
Sep, 2026	8	$586.87	$382.59	$969.46	$116,992.07
Oct, 2026	9	$584.96	$384.50	$969.46	$116,607.57
Nov, 2026	10	$583.04	$386.42	$969.46	$116,221.15
Dec, 2026	11	$581.11	$388.35	$969.46	$115,832.79
Jan, 2027	12	$579.16	$390.30	$969.46	$115,442.50
Feb, 2027	13	$577.21	$392.25	$969.46	$115,050.25
Mar, 2027	14	$575.25	$394.21	$969.46	$114,656.04
Apr, 2027	15	$573.28	$396.18	$969.46	$114,259.86
May, 2027	16	$571.30	$398.16	$969.46	$113,861.70
Jun, 2027	17	$569.31	$400.15	$969.46	$113,461.54
Jul, 2027	18	$567.31	$402.15	$969.46	$113,059.39
Aug, 2027	19	$565.30	$404.16	$969.46	$112,655.23
Sep, 2027	20	$563.28	$406.18	$969.46	$112,249.04
Oct, 2027	21	$561.25	$408.22	$969.46	$111,840.83
Nov, 2027	22	$559.20	$410.26	$969.46	$111,430.57
Dec, 2027	23	$557.15	$412.31	$969.46	$111,018.26
Jan, 2028	24	$555.09	$414.37	$969.46	$110,603.89
Feb, 2028	25	$553.02	$416.44	$969.46	$110,187.45
Mar, 2028	26	$550.94	$418.52	$969.46	$109,768.93
Apr, 2028	27	$548.84	$420.62	$969.46	$109,348.31
May, 2028	28	$546.74	$422.72	$969.46	$108,925.59
Jun, 2028	29	$544.63	$424.83	$969.46	$108,500.76
Jul, 2028	30	$542.50	$426.96	$969.46	$108,073.80
Aug, 2028	31	$540.37	$429.09	$969.46	$107,644.71
Sep, 2028	32	$538.22	$431.24	$969.46	$107,213.48
Oct, 2028	33	$536.07	$433.39	$969.46	$106,780.08
Nov, 2028	34	$533.90	$435.56	$969.46	$106,344.52
Dec, 2028	35	$531.72	$437.74	$969.46	$105,906.78
Jan, 2029	36	$529.53	$439.93	$969.46	$105,466.86
Feb, 2029	37	$527.33	$442.13	$969.46	$105,024.73
Mar, 2029	38	$525.12	$444.34	$969.46	$104,580.39
Apr, 2029	39	$522.90	$446.56	$969.46	$104,133.84
May, 2029	40	$520.67	$448.79	$969.46	$103,685.04
Jun, 2029	41	$518.43	$451.04	$969.46	$103,234.01
Jul, 2029	42	$516.17	$453.29	$969.46	$102,780.72
Aug, 2029	43	$513.90	$455.56	$969.46	$102,325.16
Sep, 2029	44	$511.63	$457.83	$969.46	$101,867.33
Oct, 2029	45	$509.34	$460.12	$969.46	$101,407.20
Nov, 2029	46	$507.04	$462.42	$969.46	$100,944.78
Dec, 2029	47	$504.72	$464.74	$969.46	$100,480.04
Jan, 2030	48	$502.40	$467.06	$969.46	$100,012.98
Feb, 2030	49	$500.06	$469.40	$969.46	$99,543.59
Mar, 2030	50	$497.72	$471.74	$969.46	$99,071.84
Apr, 2030	51	$495.36	$474.10	$969.46	$98,597.74
May, 2030	52	$492.99	$476.47	$969.46	$98,121.27
Jun, 2030	53	$490.61	$478.85	$969.46	$97,642.41
Jul, 2030	54	$488.21	$481.25	$969.46	$97,161.17
Aug, 2030	55	$485.81	$483.65	$969.46	$96,677.51
Sep, 2030	56	$483.39	$486.07	$969.46	$96,191.44
Oct, 2030	57	$480.96	$488.50	$969.46	$95,702.93
Nov, 2030	58	$478.51	$490.95	$969.46	$95,211.99
Dec, 2030	59	$476.06	$493.40	$969.46	$94,718.59
Jan, 2031	60	$473.59	$495.87	$969.46	$94,222.72
Feb, 2031	61	$471.11	$498.35	$969.46	$93,724.37
Mar, 2031	62	$468.62	$500.84	$969.46	$93,223.53
Apr, 2031	63	$466.12	$503.34	$969.46	$92,720.19
May, 2031	64	$463.60	$505.86	$969.46	$92,214.33
Jun, 2031	65	$461.07	$508.39	$969.46	$91,705.94
Jul, 2031	66	$458.53	$510.93	$969.46	$91,195.01
Aug, 2031	67	$455.98	$513.49	$969.46	$90,681.53
Sep, 2031	68	$453.41	$516.05	$969.46	$90,165.47
Oct, 2031	69	$450.83	$518.63	$969.46	$89,646.84
Nov, 2031	70	$448.23	$521.23	$969.46	$89,125.61
Dec, 2031	71	$445.63	$523.83	$969.46	$88,601.78
Jan, 2032	72	$443.01	$526.45	$969.46	$88,075.33
Feb, 2032	73	$440.38	$529.08	$969.46	$87,546.25
Mar, 2032	74	$437.73	$531.73	$969.46	$87,014.52
Apr, 2032	75	$435.07	$534.39	$969.46	$86,480.13
May, 2032	76	$432.40	$537.06	$969.46	$85,943.07
Jun, 2032	77	$429.72	$539.75	$969.46	$85,403.32
Jul, 2032	78	$427.02	$542.44	$969.46	$84,860.88
Aug, 2032	79	$424.30	$545.16	$969.46	$84,315.72
Sep, 2032	80	$421.58	$547.88	$969.46	$83,767.84
Oct, 2032	81	$418.84	$550.62	$969.46	$83,217.22
Nov, 2032	82	$416.09	$553.37	$969.46	$82,663.84
Dec, 2032	83	$413.32	$556.14	$969.46	$82,107.70
Jan, 2033	84	$410.54	$558.92	$969.46	$81,548.78
Feb, 2033	85	$407.74	$561.72	$969.46	$80,987.06
Mar, 2033	86	$404.94	$564.53	$969.46	$80,422.54
Apr, 2033	87	$402.11	$567.35	$969.46	$79,855.19
May, 2033	88	$399.28	$570.18	$969.46	$79,285.01
Jun, 2033	89	$396.43	$573.04	$969.46	$78,711.97
Jul, 2033	90	$393.56	$575.90	$969.46	$78,136.07
Aug, 2033	91	$390.68	$578.78	$969.46	$77,557.29
Sep, 2033	92	$387.79	$581.67	$969.46	$76,975.62
Oct, 2033	93	$384.88	$584.58	$969.46	$76,391.03
Nov, 2033	94	$381.96	$587.51	$969.46	$75,803.53
Dec, 2033	95	$379.02	$590.44	$969.46	$75,213.08
Jan, 2034	96	$376.07	$593.40	$969.46	$74,619.69
Feb, 2034	97	$373.10	$596.36	$969.46	$74,023.33
Mar, 2034	98	$370.12	$599.34	$969.46	$73,423.98
Apr, 2034	99	$367.12	$602.34	$969.46	$72,821.64
May, 2034	100	$364.11	$605.35	$969.46	$72,216.29
Jun, 2034	101	$361.08	$608.38	$969.46	$71,607.91
Jul, 2034	102	$358.04	$611.42	$969.46	$70,996.49
Aug, 2034	103	$354.98	$614.48	$969.46	$70,382.01
Sep, 2034	104	$351.91	$617.55	$969.46	$69,764.46
Oct, 2034	105	$348.82	$620.64	$969.46	$69,143.82
Nov, 2034	106	$345.72	$623.74	$969.46	$68,520.08
Dec, 2034	107	$342.60	$626.86	$969.46	$67,893.22
Jan, 2035	108	$339.47	$629.99	$969.46	$67,263.23
Feb, 2035	109	$336.32	$633.14	$969.46	$66,630.08
Mar, 2035	110	$333.15	$636.31	$969.46	$65,993.77
Apr, 2035	111	$329.97	$639.49	$969.46	$65,354.28
May, 2035	112	$326.77	$642.69	$969.46	$64,711.59
Jun, 2035	113	$323.56	$645.90	$969.46	$64,065.69
Jul, 2035	114	$320.33	$649.13	$969.46	$63,416.56
Aug, 2035	115	$317.08	$652.38	$969.46	$62,764.18
Sep, 2035	116	$313.82	$655.64	$969.46	$62,108.54
Oct, 2035	117	$310.54	$658.92	$969.46	$61,449.62
Nov, 2035	118	$307.25	$662.21	$969.46	$60,787.41
Dec, 2035	119	$303.94	$665.52	$969.46	$60,121.88
Jan, 2036	120	$300.61	$668.85	$969.46	$59,453.03
Feb, 2036	121	$297.27	$672.20	$969.46	$58,780.84
Mar, 2036	122	$293.90	$675.56	$969.46	$58,105.28
Apr, 2036	123	$290.53	$678.93	$969.46	$57,426.35
May, 2036	124	$287.13	$682.33	$969.46	$56,744.02
Jun, 2036	125	$283.72	$685.74	$969.46	$56,058.28
Jul, 2036	126	$280.29	$689.17	$969.46	$55,369.11
Aug, 2036	127	$276.85	$692.62	$969.46	$54,676.49
Sep, 2036	128	$273.38	$696.08	$969.46	$53,980.42
Oct, 2036	129	$269.90	$699.56	$969.46	$53,280.86
Nov, 2036	130	$266.40	$703.06	$969.46	$52,577.80
Dec, 2036	131	$262.89	$706.57	$969.46	$51,871.23
Jan, 2037	132	$259.36	$710.10	$969.46	$51,161.12
Feb, 2037	133	$255.81	$713.66	$969.46	$50,447.47
Mar, 2037	134	$252.24	$717.22	$969.46	$49,730.25
Apr, 2037	135	$248.65	$720.81	$969.46	$49,009.44
May, 2037	136	$245.05	$724.41	$969.46	$48,285.02
Jun, 2037	137	$241.43	$728.04	$969.46	$47,556.99
Jul, 2037	138	$237.78	$731.68	$969.46	$46,825.31
Aug, 2037	139	$234.13	$735.33	$969.46	$46,089.98
Sep, 2037	140	$230.45	$739.01	$969.46	$45,350.97
Oct, 2037	141	$226.75	$742.71	$969.46	$44,608.26
Nov, 2037	142	$223.04	$746.42	$969.46	$43,861.84
Dec, 2037	143	$219.31	$750.15	$969.46	$43,111.69
Jan, 2038	144	$215.56	$753.90	$969.46	$42,357.79
Feb, 2038	145	$211.79	$757.67	$969.46	$41,600.12
Mar, 2038	146	$208.00	$761.46	$969.46	$40,838.66
Apr, 2038	147	$204.19	$765.27	$969.46	$40,073.39
May, 2038	148	$200.37	$769.09	$969.46	$39,304.30
Jun, 2038	149	$196.52	$772.94	$969.46	$38,531.36
Jul, 2038	150	$192.66	$776.80	$969.46	$37,754.55
Aug, 2038	151	$188.77	$780.69	$969.46	$36,973.86
Sep, 2038	152	$184.87	$784.59	$969.46	$36,189.27
Oct, 2038	153	$180.95	$788.51	$969.46	$35,400.76
Nov, 2038	154	$177.00	$792.46	$969.46	$34,608.30
Dec, 2038	155	$173.04	$796.42	$969.46	$33,811.88
Jan, 2039	156	$169.06	$800.40	$969.46	$33,011.48
Feb, 2039	157	$165.06	$804.40	$969.46	$32,207.08
Mar, 2039	158	$161.04	$808.43	$969.46	$31,398.65
Apr, 2039	159	$156.99	$812.47	$969.46	$30,586.19
May, 2039	160	$152.93	$816.53	$969.46	$29,769.66
Jun, 2039	161	$148.85	$820.61	$969.46	$28,949.04
Jul, 2039	162	$144.75	$824.72	$969.46	$28,124.33
Aug, 2039	163	$140.62	$828.84	$969.46	$27,295.49
Sep, 2039	164	$136.48	$832.98	$969.46	$26,462.51
Oct, 2039	165	$132.31	$837.15	$969.46	$25,625.36
Nov, 2039	166	$128.13	$841.33	$969.46	$24,784.02
Dec, 2039	167	$123.92	$845.54	$969.46	$23,938.48
Jan, 2040	168	$119.69	$849.77	$969.46	$23,088.72
Feb, 2040	169	$115.44	$854.02	$969.46	$22,234.70
Mar, 2040	170	$111.17	$858.29	$969.46	$21,376.41
Apr, 2040	171	$106.88	$862.58	$969.46	$20,513.83
May, 2040	172	$102.57	$866.89	$969.46	$19,646.94
Jun, 2040	173	$98.23	$871.23	$969.46	$18,775.72
Jul, 2040	174	$93.88	$875.58	$969.46	$17,900.13
Aug, 2040	175	$89.50	$879.96	$969.46	$17,020.17
Sep, 2040	176	$85.10	$884.36	$969.46	$16,135.81
Oct, 2040	177	$80.68	$888.78	$969.46	$15,247.03
Nov, 2040	178	$76.24	$893.23	$969.46	$14,353.81
Dec, 2040	179	$71.77	$897.69	$969.46	$13,456.12
Jan, 2041	180	$67.28	$902.18	$969.46	$12,553.94
Feb, 2041	181	$62.77	$906.69	$969.46	$11,647.24
Mar, 2041	182	$58.24	$911.22	$969.46	$10,736.02
Apr, 2041	183	$53.68	$915.78	$969.46	$9,820.24
May, 2041	184	$49.10	$920.36	$969.46	$8,899.88
Jun, 2041	185	$44.50	$924.96	$969.46	$7,974.92
Jul, 2041	186	$39.87	$929.59	$969.46	$7,045.33
Aug, 2041	187	$35.23	$934.23	$969.46	$6,111.10
Sep, 2041	188	$30.56	$938.91	$969.46	$5,172.19
Oct, 2041	189	$25.86	$943.60	$969.46	$4,228.59
Nov, 2041	190	$21.14	$948.32	$969.46	$3,280.28
Dec, 2041	191	$16.40	$953.06	$969.46	$2,327.22
Jan, 2042	192	$11.64	$957.82	$969.46	$1,369.39
Feb, 2042	193	$6.85	$962.61	$969.46	$406.78
Mar, 2042	194	$2.03	$406.78	$408.81	$0.00

Original vs. Mortgage Overpayment

	Original	Overpayment
Monthly Payment	$719.46	$969.46
Total Interest	$139,005.83	$67,514.71
Total Principal	$120,000.00	$120,000.00
Total Payment	$259,005.83	$187,514.71
Total Interest Savings	$0	$71,491.11
Payoff Date	Jan, 2056	Mar, 2042

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What is a mortgage overpayment?

A mortgage overpayment is when you make a payment that is larger than your regular monthly mortgage payment. A mortgage overpayment towards the principal reduces your mortgage balance and saves you interest payments. Depending on the size and frequency of your overpayments, you may be able to shorten the length of your mortgage term by a few years and save thousands of dollars.

How does mortgage overpayment work?

Before you start making overpayments on your mortgage, contact the mortgage lender and make sure that there is no penalty or limit on how much you can overpay each year. Some lenders charge a fee when borrowers pay off their mortgages earlier, and some others have a 10% annual overpayment limit of your total mortgage balance. In addition, you should also make sure the overpayment goes towards the principal and not as an early mortgage payment. Paying early doesn't reduce your interest payments, reducing the mortgage balance does.

What is the maximum amount you can overpay for your mortgage?

It depends on your lender. Some lenders allow you to overpay only 10% of your mortgage balance while others have no limit, meaning you can overpay as much as you can afford to. You should consult your lender to check if there are any fees or rules for overpayment.

Does the extra payment on overpayment automatically reduce the principal?

While many lenders automatically reduce your principal when you overpay your mortgage, some lenders will use the overpayment as an early payment for your next billing cycle. You want to make sure the extra payment is to be used for principal reduction so that you can save on interest payments.

Is it a good idea to overpay your mortgage?

It depends on your personal situation. If you can afford the overpayment and have no need for the extra money, by all means, do it as it will save you money over the course of the mortgage. However, if you have other debts with higher interest rates, you should pay off this debt first. Also, if making the overpayment will cause you to change your lifestyle considerably, you may not want to make overpayments. If you need the money for other investments or business ventures that might offer a higher return than the mortgage interest you are paying, then overpayment may not be the best choice.

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What happens if I pay an extra $500 a month on my mortgage?

If you consistently pay an extra $500 on your mortgage, chances are you will save tons of money on interest and will be able to pay off your mortgage years earlier. You can use the mortgage overpayment calculator to calculate exactly how much you can save. All you have to do is input your mortgage amount, interest rate, term, and the overpayment amount which is $500 in this case. The mortgage overpayment calculator will show you the savings and the new payoff date. You will also get a new mortgage overpayment amortization schedule with your monthly payment details.