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Extra repayments — what an extra $X/month does
Even small extra payments compound dramatically against a 30-year mortgage. See how much time and interest you cut by paying a bit more each month — or dropping in a one-off lump sum.
Paid on top of the scheduled minimum
e.g. tax return, bonus, inheritance — applied at month 1
Interest saved
$134,189
vs. paying only the scheduled minimum
Time saved
5y 0m
Loan paid off 60 months early
Scheduled monthly
$3,727
Effective monthly (with extras)
$4,027
The maths
Extra repayments go straight to principal. Every dollar of principal you pay early stops accruing interest for the remainder of the loan term — which is why $300/month extra on a 30-year loan can save you $100k+ in interest and shave off 6+ years.
Lump sums punch above their weight.A $20k tax return applied to year 1 saves more interest than the same $20k spread over 5 years of monthly extras, because it’s compounding for longer.
Watch for fees. Some fixed-rate loans cap or charge for extra repayments. Variable-rate loans almost always allow unlimited extras — sometimes via a free redraw facility.
Want a real number, not a ballpark?
These figures are estimates. A 30-min broker consult will run your specific scenario against the actual lender policies — no fees, no obligation.
Important: This calculator provides an estimate only and does not constitute credit advice. Actual rates, repayments, fees and approval are subject to lender policy and your individual circumstances. Comparison rates are based on a $150,000 loan over 25 years on a secured basis — see footer for the full disclaimer.