If you pay more than the minimum amount due on your mortgage each month, the extra amount can be applied to your remaining principal balance. Use the calculator below to see the impact of additional principal payments, and click the ‘View Results’ button to see how they can shorten your repayment period and reduce the total amount of interest you have to pay.
Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.