Mortgage Payoff Calculator Extra Payments

I have a 15 year mortgage. How many extra monthly payments per year would I need to make to pay it off in 10?

I tried going to a site with an amortization calculator but when I applied an extra payment per year it only reduced the payoff by a month or two. That doesn’t seem right.
178,000.00 balance

approx 1,400.00 per month

3.75% interest
Hirebook, As I said I did use a calculator but it just didn’t seem like it reduced it by any length of time. I know if you make an extra payment per year on a 30 it reduces the payoff time by almost a 3rd.

I only have 12 years left but would like to pay it off in 7 by making extra payments and would like to start this year by catching up to where I would be had I started 3 years ago and continue for 7 more.

I hope that makes sense.

If your loan balance at end of year 3 is close to $147,000, paying an minimum of an extra $600 a month should get you very close to paying it off by your 120th payment. The balance remaining after 120th payment would be approx. $9480.

Microsoft has some free & very nice amortization Excel spreadsheets that allow you to factor in extra payments, whether it a fixed extra amount of payment of it varies.

I frequently use the one at the top of that link.

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