Should I Pay Extra on My Mortgage?

Compare payoff acceleration vs. investing the difference to optimize your wealth building strategy.

Mortgage Details

Enter your mortgage information and strategy

Comparison Results

Bottom Line

Investing the difference leaves you $202,415.01 ahead

Over 25 years, compound growth of 7% annually outpaces the mortgage interest savings

Cumulative Wealth Over Time

Debt-Free Timeline

20 yrs 3m

Pay Extra Strategy

Time Difference

4 yrs

Years until debt freedom tradeoff

Pay Extra

Accelerate payoff, minimize interest

Home Equity at Payoff

$628,133.38

Total Interest Paid

$239,546.67

Investments

None

Invest Difference

Build wealth through compound growth

Recommended

Total Wealth at Year 25

$1,033,169.23

Home equity + portfolio value

Total Interest Paid

$442,167.51

Investment Portfolio Value

+$405,035.85

Assumptions matter: This analysis assumes you actually invest $500/month and achieve 7% average annual returns. Market volatility, missed contributions, and sequence-of-returns risk could materially change the outcome.

This calculator provides estimates only. Actual results depend on market conditions, taxes, and individual circumstances. Consult a financial advisor for personalized advice.