Increase Your Monthly Payment

Current Plan

Monthly Payment
Total Interest
Months to Pay Off

With Additional Payment

Monthly Payment
Total Interest
Months to Pay Off

If you're trying to pay down some debt, you might be wondering what the impact would be if you simply increased your monthly payment each month by just a little, or even a lot. When you increase your monthly payment, the amount of the increase gets applied directly to reducing the amount owed, or principle. Reducing the amount of money you owe will reduce your interest charges each month, as the interest rate will be applied only to the outstanding loan balance. An increase in your monthly payment will lessen the amount of interest charges you will pay over the repayment period and shorten the number of months it will take to pay off the loan.

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Flagstar Bank partnered with Fintactix, a financial education company, to make these calculators available. They are for informational purposes only. The results are hypothetical to illustrate general scenarios. The calculators cannot determine that a specific Flagstar product is available to you or that it is the right solution for your circumstances. All Flagstar Bank products require an application and an approval process. Please contact us directly so we can assist you. The calculators also do not provide investment, legal, tax, or accounting advice. Consult with a tax advisor, attorney, or other financial professional for guidance about your situation. Flagstar Bank and our affiliates are not responsible for any content provided by unaffiliated third parties.