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Principal prepayments on your mortgage can save you a great deal of interest. They can also shorten the time it takes to pay off your mortgage, in many cases, by several years.
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Year | Total Payments | Principal Paid | Interest Paid | Ending Principal Balance |
| $100,000 | ||||
| 1 | $8,805 | $835 | $7,970 | $99,165 |
| 2 | $8,805 | $905 | $7,900 | $98,260 |
| 3 | $8,805 | $980 | $7,825 | $97,280 |
| 4 | $8,805 | $1,061 | $7,744 | $96,219 |
| 5 | $8,805 | $1,149 | $7,656 | $95,070 |
| 6 | $8,805 | $1,245 | $7,561 | $93,825 |
| 7 | $8,805 | $1,348 | $7,457 | $92,477 |
| 8 | $8,805 | $1,460 | $7,345 | $91,018 |
| 9 | $8,805 | $1,581 | $7,224 | $89,437 |
| 10 | $8,805 | $1,712 | $7,093 | $87,725 |
| 11 | $8,805 | $1,854 | $6,951 | $85,870 |
| 12 | $8,805 | $2,008 | $6,797 | $83,862 |
| 13 | $8,805 | $2,175 | $6,630 | $81,688 |
| 14 | $8,805 | $2,355 | $6,450 | $79,332 |
| 15 | $8,805 | $2,551 | $6,254 | $76,782 |
| 16 | $8,805 | $2,762 | $6,043 | $74,019 |
| 17 | $8,805 | $2,992 | $5,813 | $71,027 |
| 18 | $8,805 | $3,240 | $5,565 | $67,787 |
| 19 | $8,805 | $3,509 | $5,296 | $64,278 |
| 20 | $8,805 | $3,800 | $5,005 | $60,478 |
| 21 | $8,805 | $4,116 | $4,690 | $56,362 |
| 22 | $8,805 | $4,457 | $4,348 | $51,905 |
| 23 | $8,805 | $4,827 | $3,978 | $47,078 |
| 24 | $8,805 | $5,228 | $3,577 | $41,850 |
| 25 | $8,805 | $5,662 | $3,143 | $36,188 |
| 26 | $8,805 | $6,132 | $2,673 | $30,056 |
| 27 | $8,805 | $6,641 | $2,165 | $23,416 |
| 28 | $8,805 | $7,192 | $1,613 | $16,224 |
| 29 | $8,805 | $7,789 | $1,016 | $8,435 |
| 30 | $8,805 | $8,440 | $370 | $0 |