The trick is to apply the entire amount to your mortgage’s principal balance, which is what you owe before interest, taxes, and insurance are added in. A top tip to paying off a mortgage early is to make one extra monthly payment annually.

Using our mortgage payoff calculator, you can see how any amount of extra principal can change not only how quickly you pay off the mortgage, but also how much total interest you’ll end up paying. Describes amortization schedule, where to view yours, and how to calculate changes.

Recasting a mortgage happens when you put down a lump-sum payment toward the principal balance and the lender re-amortizes the loan. Since you are paying down your principal by a large amount, your monthly payment will be lowered, but your interest rate and loan terms will remain...

You can also make a one-time payment through your online account. Check out our Smart Calendar for important information about your due date, grace period, and more. Here’s a video on how it works and where to find it: © 2025 Nationstar Mortgage LLC d/b/a Mr. Cooper. Mr. Cooper is a ...

Depending on the type of insurance, you will need enough to cover the lower of either the replacement cost of the property or the remaining principal balance on your loan.

Using our mortgage payoff calculator, you can see how any amount of extra principal can change not only how quickly you pay off the mortgage, but also how much total interest you’ll end up paying.

There will be 2 months during the year when a 3rd half-payment will be drafted and posted to the account, as a principal payment. The 2 extra half-payments will help reduce the overall interest you pay on the loan and accelerate the payoff.

Using our mortgage payoff calculator, you can see how any amount of extra principal can change not only how quickly you pay off the mortgage, but also how much total interest you’ll end up paying.

Using our mortgage payoff calculator, you can see how any amount of extra principal can change not only how quickly you pay off the mortgage, but also how much total interest you’ll end up paying. Describes amortization schedule, where to view yours, and how to calculate changes.

How do I set up my online account? All you need is your loan number, Social Security Number, and property ZIP code to create your account. Then you can download our secure mobile app in the App Store or Google Play to manage your account anytime, anywhere.