Loan guides

These articles explain how fixed-rate loans work, how extra payments reduce interest, and how to read an amortization schedule. Each guide includes practical examples, cross-links to related topics, and a path back to the calculator so you can apply the ideas to your own loan.

When you are ready to model your numbers, use our free loan payoff calculator to compare standard repayment with extra monthly or annual payments. Open the free calculator

• How loan amortization worksUnderstand principal, interest, and why your balance drops slowly at first on a fixed-rate loan.
• Extra payments on a mortgageSee how paying even a modest amount toward principal each month can save tens of thousands in interest.
• Monthly vs. annual extra paymentsSame total extra cash per year can produce different savings depending on when you pay.
• The loan payment formula explainedA plain-language walkthrough of the math behind your monthly payment.
• 5 mortgage payoff strategiesPractical ways to shorten your mortgage term and cut total interest—with trade-offs explained.