Loan Prepayment Calculator
See how extra payments can save you money and time on your loan.
Enter Loan Details
Regular Payments
Monthly Payment
$1,896.20
Total Interest
$382,633.47
Payoff
30 years
June 2056
With Prepayment
Effective Payment
$2,396.20
Total Interest
$202,874.38
Payoff
17 years 6 months
December 2043
Interest Saved
$179,759.08
Time Saved
12 years 6 months
Estimates only — confirm extra-payment handling and any prepayment penalties with your lender.
How these numbers are estimated
Extra payments are assumed to be applied directly to principal every month, starting from your first scheduled payment.
Interest accrues monthly on the remaining balance using a fixed rate. Real loans may differ (daily interest, fees, escrow, rate changes, or lenders that apply extra funds to future payments rather than principal). Treat the payoff date and savings as estimates, not guarantees.
Frequently Asked Questions
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