Mortgage Prepayment Calculator

Mortgage Prepayment Calculator to calculate early payoff for your mortgage payments based on a desired monthly payment or the number of years until payoff.

Loan Prepayment Calculator
Mortgage Amount	$
Loan Terms	years
Interest Rate
Desired Monthly Payment	$
	OR
# of years would you like to payoff your mortgage	years
	Check Local Mortgage Rates

Mortgage Payoff Calculator Results
Standard Monthly Payment (Principal & Interest):	$536.82
Additional Monthly Payment:	$263.18
Desire Monthly Payment:	$800.00
Payoff Date:	Aug, 2040
Total Interest Savings:	$51,705.90

Mortgage Payoff Amortization Schedule
Payment Date	Payment #	Interest Paid	Principal Paid	Total Payment	Remaining Balance
Dec, 2025	1	$416.67	$383.33	$800.00	$99,616.67
Jan, 2026	2	$415.07	$384.93	$800.00	$99,231.74
Feb, 2026	3	$413.47	$386.53	$800.00	$98,845.20
Mar, 2026	4	$411.86	$388.14	$800.00	$98,457.06
Apr, 2026	5	$410.24	$389.76	$800.00	$98,067.29
May, 2026	6	$408.61	$391.39	$800.00	$97,675.91
Jun, 2026	7	$406.98	$393.02	$800.00	$97,282.89
Jul, 2026	8	$405.35	$394.65	$800.00	$96,888.24
Aug, 2026	9	$403.70	$396.30	$800.00	$96,491.94
Sep, 2026	10	$402.05	$397.95	$800.00	$96,093.99
Oct, 2026	11	$400.39	$399.61	$800.00	$95,694.38
Nov, 2026	12	$398.73	$401.27	$800.00	$95,293.11
Dec, 2026	13	$397.05	$402.95	$800.00	$94,890.16
Jan, 2027	14	$395.38	$404.62	$800.00	$94,485.54
Feb, 2027	15	$393.69	$406.31	$800.00	$94,079.23
Mar, 2027	16	$392.00	$408.00	$800.00	$93,671.22
Apr, 2027	17	$390.30	$409.70	$800.00	$93,261.52
May, 2027	18	$388.59	$411.41	$800.00	$92,850.11
Jun, 2027	19	$386.88	$413.12	$800.00	$92,436.98
Jul, 2027	20	$385.15	$414.85	$800.00	$92,022.14
Aug, 2027	21	$383.43	$416.57	$800.00	$91,605.56
Sep, 2027	22	$381.69	$418.31	$800.00	$91,187.25
Oct, 2027	23	$379.95	$420.05	$800.00	$90,767.20
Nov, 2027	24	$378.20	$421.80	$800.00	$90,345.40
Dec, 2027	25	$376.44	$423.56	$800.00	$89,921.84
Jan, 2028	26	$374.67	$425.33	$800.00	$89,496.51
Feb, 2028	27	$372.90	$427.10	$800.00	$89,069.41
Mar, 2028	28	$371.12	$428.88	$800.00	$88,640.54
Apr, 2028	29	$369.34	$430.66	$800.00	$88,209.87
May, 2028	30	$367.54	$432.46	$800.00	$87,777.41
Jun, 2028	31	$365.74	$434.26	$800.00	$87,343.15
Jul, 2028	32	$363.93	$436.07	$800.00	$86,907.08
Aug, 2028	33	$362.11	$437.89	$800.00	$86,469.19
Sep, 2028	34	$360.29	$439.71	$800.00	$86,029.48
Oct, 2028	35	$358.46	$441.54	$800.00	$85,587.94
Nov, 2028	36	$356.62	$443.38	$800.00	$85,144.55
Dec, 2028	37	$354.77	$445.23	$800.00	$84,699.32
Jan, 2029	38	$352.91	$447.09	$800.00	$84,252.24
Feb, 2029	39	$351.05	$448.95	$800.00	$83,803.29
Mar, 2029	40	$349.18	$450.82	$800.00	$83,352.47
Apr, 2029	41	$347.30	$452.70	$800.00	$82,899.77
May, 2029	42	$345.42	$454.58	$800.00	$82,445.19
Jun, 2029	43	$343.52	$456.48	$800.00	$81,988.71
Jul, 2029	44	$341.62	$458.38	$800.00	$81,530.33
Aug, 2029	45	$339.71	$460.29	$800.00	$81,070.04
Sep, 2029	46	$337.79	$462.21	$800.00	$80,607.83
Oct, 2029	47	$335.87	$464.13	$800.00	$80,143.70
Nov, 2029	48	$333.93	$466.07	$800.00	$79,677.63
Dec, 2029	49	$331.99	$468.01	$800.00	$79,209.62
Jan, 2030	50	$330.04	$469.96	$800.00	$78,739.66
Feb, 2030	51	$328.08	$471.92	$800.00	$78,267.74
Mar, 2030	52	$326.12	$473.88	$800.00	$77,793.86
Apr, 2030	53	$324.14	$475.86	$800.00	$77,318.00
May, 2030	54	$322.16	$477.84	$800.00	$76,840.15
Jun, 2030	55	$320.17	$479.83	$800.00	$76,360.32
Jul, 2030	56	$318.17	$481.83	$800.00	$75,878.49
Aug, 2030	57	$316.16	$483.84	$800.00	$75,394.65
Sep, 2030	58	$314.14	$485.86	$800.00	$74,908.79
Oct, 2030	59	$312.12	$487.88	$800.00	$74,420.91
Nov, 2030	60	$310.09	$489.91	$800.00	$73,931.00
Dec, 2030	61	$308.05	$491.95	$800.00	$73,439.05
Jan, 2031	62	$306.00	$494.00	$800.00	$72,945.04
Feb, 2031	63	$303.94	$496.06	$800.00	$72,448.98
Mar, 2031	64	$301.87	$498.13	$800.00	$71,950.85
Apr, 2031	65	$299.80	$500.20	$800.00	$71,450.65
May, 2031	66	$297.71	$502.29	$800.00	$70,948.36
Jun, 2031	67	$295.62	$504.38	$800.00	$70,443.98
Jul, 2031	68	$293.52	$506.48	$800.00	$69,937.49
Aug, 2031	69	$291.41	$508.59	$800.00	$69,428.90
Sep, 2031	70	$289.29	$510.71	$800.00	$68,918.19
Oct, 2031	71	$287.16	$512.84	$800.00	$68,405.35
Nov, 2031	72	$285.02	$514.98	$800.00	$67,890.37
Dec, 2031	73	$282.88	$517.12	$800.00	$67,373.24
Jan, 2032	74	$280.72	$519.28	$800.00	$66,853.97
Feb, 2032	75	$278.56	$521.44	$800.00	$66,332.52
Mar, 2032	76	$276.39	$523.61	$800.00	$65,808.91
Apr, 2032	77	$274.20	$525.80	$800.00	$65,283.11
May, 2032	78	$272.01	$527.99	$800.00	$64,755.13
Jun, 2032	79	$269.81	$530.19	$800.00	$64,224.94
Jul, 2032	80	$267.60	$532.40	$800.00	$63,692.54
Aug, 2032	81	$265.39	$534.61	$800.00	$63,157.93
Sep, 2032	82	$263.16	$536.84	$800.00	$62,621.09
Oct, 2032	83	$260.92	$539.08	$800.00	$62,082.01
Nov, 2032	84	$258.68	$541.32	$800.00	$61,540.68
Dec, 2032	85	$256.42	$543.58	$800.00	$60,997.10
Jan, 2033	86	$254.15	$545.85	$800.00	$60,451.26
Feb, 2033	87	$251.88	$548.12	$800.00	$59,903.14
Mar, 2033	88	$249.60	$550.40	$800.00	$59,352.73
Apr, 2033	89	$247.30	$552.70	$800.00	$58,800.04
May, 2033	90	$245.00	$555.00	$800.00	$58,245.04
Jun, 2033	91	$242.69	$557.31	$800.00	$57,687.72
Jul, 2033	92	$240.37	$559.63	$800.00	$57,128.09
Aug, 2033	93	$238.03	$561.97	$800.00	$56,566.12
Sep, 2033	94	$235.69	$564.31	$800.00	$56,001.82
Oct, 2033	95	$233.34	$566.66	$800.00	$55,435.16
Nov, 2033	96	$230.98	$569.02	$800.00	$54,866.14
Dec, 2033	97	$228.61	$571.39	$800.00	$54,294.75
Jan, 2034	98	$226.23	$573.77	$800.00	$53,720.97
Feb, 2034	99	$223.84	$576.16	$800.00	$53,144.81
Mar, 2034	100	$221.44	$578.56	$800.00	$52,566.25
Apr, 2034	101	$219.03	$580.97	$800.00	$51,985.27
May, 2034	102	$216.61	$583.39	$800.00	$51,401.88
Jun, 2034	103	$214.17	$585.83	$800.00	$50,816.05
Jul, 2034	104	$211.73	$588.27	$800.00	$50,227.79
Aug, 2034	105	$209.28	$590.72	$800.00	$49,637.07
Sep, 2034	106	$206.82	$593.18	$800.00	$49,043.89
Oct, 2034	107	$204.35	$595.65	$800.00	$48,448.24
Nov, 2034	108	$201.87	$598.13	$800.00	$47,850.11
Dec, 2034	109	$199.38	$600.62	$800.00	$47,249.48
Jan, 2035	110	$196.87	$603.13	$800.00	$46,646.36
Feb, 2035	111	$194.36	$605.64	$800.00	$46,040.72
Mar, 2035	112	$191.84	$608.16	$800.00	$45,432.55
Apr, 2035	113	$189.30	$610.70	$800.00	$44,821.85
May, 2035	114	$186.76	$613.24	$800.00	$44,208.61
Jun, 2035	115	$184.20	$615.80	$800.00	$43,592.82
Jul, 2035	116	$181.64	$618.36	$800.00	$42,974.45
Aug, 2035	117	$179.06	$620.94	$800.00	$42,353.51
Sep, 2035	118	$176.47	$623.53	$800.00	$41,729.99
Oct, 2035	119	$173.87	$626.13	$800.00	$41,103.86
Nov, 2035	120	$171.27	$628.73	$800.00	$40,475.13
Dec, 2035	121	$168.65	$631.35	$800.00	$39,843.77
Jan, 2036	122	$166.02	$633.98	$800.00	$39,209.79
Feb, 2036	123	$163.37	$636.63	$800.00	$38,573.16
Mar, 2036	124	$160.72	$639.28	$800.00	$37,933.88
Apr, 2036	125	$158.06	$641.94	$800.00	$37,291.94
May, 2036	126	$155.38	$644.62	$800.00	$36,647.32
Jun, 2036	127	$152.70	$647.30	$800.00	$36,000.02
Jul, 2036	128	$150.00	$650.00	$800.00	$35,350.02
Aug, 2036	129	$147.29	$652.71	$800.00	$34,697.31
Sep, 2036	130	$144.57	$655.43	$800.00	$34,041.89
Oct, 2036	131	$141.84	$658.16	$800.00	$33,383.73
Nov, 2036	132	$139.10	$660.90	$800.00	$32,722.83
Dec, 2036	133	$136.35	$663.65	$800.00	$32,059.17
Jan, 2037	134	$133.58	$666.42	$800.00	$31,392.75
Feb, 2037	135	$130.80	$669.20	$800.00	$30,723.55
Mar, 2037	136	$128.01	$671.99	$800.00	$30,051.57
Apr, 2037	137	$125.21	$674.79	$800.00	$29,376.78
May, 2037	138	$122.40	$677.60	$800.00	$28,699.19
Jun, 2037	139	$119.58	$680.42	$800.00	$28,018.77
Jul, 2037	140	$116.74	$683.26	$800.00	$27,335.51
Aug, 2037	141	$113.90	$686.10	$800.00	$26,649.41
Sep, 2037	142	$111.04	$688.96	$800.00	$25,960.45
Oct, 2037	143	$108.17	$691.83	$800.00	$25,268.62
Nov, 2037	144	$105.29	$694.71	$800.00	$24,573.90
Dec, 2037	145	$102.39	$697.61	$800.00	$23,876.29
Jan, 2038	146	$99.48	$700.52	$800.00	$23,175.78
Feb, 2038	147	$96.57	$703.43	$800.00	$22,472.35
Mar, 2038	148	$93.63	$706.37	$800.00	$21,765.98
Apr, 2038	149	$90.69	$709.31	$800.00	$21,056.67
May, 2038	150	$87.74	$712.26	$800.00	$20,344.41
Jun, 2038	151	$84.77	$715.23	$800.00	$19,629.18
Jul, 2038	152	$81.79	$718.21	$800.00	$18,910.96
Aug, 2038	153	$78.80	$721.20	$800.00	$18,189.76
Sep, 2038	154	$75.79	$724.21	$800.00	$17,465.55
Oct, 2038	155	$72.77	$727.23	$800.00	$16,738.32
Nov, 2038	156	$69.74	$730.26	$800.00	$16,008.07
Dec, 2038	157	$66.70	$733.30	$800.00	$15,274.77
Jan, 2039	158	$63.64	$736.36	$800.00	$14,538.41
Feb, 2039	159	$60.58	$739.42	$800.00	$13,798.99
Mar, 2039	160	$57.50	$742.50	$800.00	$13,056.48
Apr, 2039	161	$54.40	$745.60	$800.00	$12,310.89
May, 2039	162	$51.30	$748.70	$800.00	$11,562.18
Jun, 2039	163	$48.18	$751.82	$800.00	$10,810.36
Jul, 2039	164	$45.04	$754.96	$800.00	$10,055.40
Aug, 2039	165	$41.90	$758.10	$800.00	$9,297.30
Sep, 2039	166	$38.74	$761.26	$800.00	$8,536.04
Oct, 2039	167	$35.57	$764.43	$800.00	$7,771.60
Nov, 2039	168	$32.38	$767.62	$800.00	$7,003.99
Dec, 2039	169	$29.18	$770.82	$800.00	$6,233.17
Jan, 2040	170	$25.97	$774.03	$800.00	$5,459.14
Feb, 2040	171	$22.75	$777.25	$800.00	$4,681.89
Mar, 2040	172	$19.51	$780.49	$800.00	$3,901.39
Apr, 2040	173	$16.26	$783.74	$800.00	$3,117.65
May, 2040	174	$12.99	$787.01	$800.00	$2,330.64
Jun, 2040	175	$9.71	$790.29	$800.00	$1,540.35
Jul, 2040	176	$6.42	$793.58	$800.00	$746.77
Aug, 2040	177	$3.11	$746.77	$749.88	$0.00

Original vs. Mortgage Payoff

	Original	Payoff
Monthly Payment	$536.82	$800.00
Total Interest	$93,255.78	$41,549.88
Total Principal	$100,000.00	$100,000.00
Total Payment	$193,255.78	$141,549.88
Total Interest Savings	$0	$51,705.90
Payoff Date	Nov, 2055	Aug, 2040

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Loan Prepayment Calculator

Loan Prepayment Calculator to calculate how much you can save in total interest payments with mortgage prepayment and early payoff. Early mortgage payoff calculator is easy to use and comes with an amortization schedule that shows you all the payment details. The prepayment mortgage calculator is like a combination of the mortgage payoff calculator and the early mortgage payoff calculator. You will get an amortization schedule on your new monthly payments with total principal and interest information. View, save, or download your amortization schedule as a PDF.

How to Payoff Your Mortgage Early?

The main reason that we want to pay off our mortgage early is to save money on interest. In a 30-year fixed rate mortgage, the interest payment that we make is probably very close to the mortgage itself. If you factor in other fees such as property tax, insurance and PMI, the interest payment that we make will exceed the principal. One way to reduce interest payment is to pay off your mortgage early by making extra payments towards principal. The extra payment could be a one time lump-sum payment, recurring payments, an increase in monthly payments, or making biweekly payments instead of monthly payments. Using the biweekly mortgage schedule, you will be able to pay one extra payment each year and will pay off your mortgage years earlier and thousands of dollars saved on interest payment. You can use our biweekly mortgage calculator to estimate how much you can save.

Is Early Mortgage Payoff Right For You?

• Are you going to live in the house for decades? The benefits of extra payments will only be realized if you are staying at the current house for at least 15 years if you have a mortgage with a 30 year term. If you are planning to sell the house in a few years, the savings on interest may be minimal because there may be fees that are associated with paying off your mortgage early.
  
  
• Can you afford the extra payment? Making extra payments means you need to have more savings in your bank account. If your salary and spending stay the same, it may be a little difficult to afford the extra payment.
  
  
• Are there any other better investment opportunities? Making extra payments also means that you will tie more money on the mortgage and you may lose other investment opportunities such as stocks, bonds, or businesses.

What is a prepayment penalty?

There are things that you need to be aware of before starting making extra payments for early payoff. First, you have to check with the lender to see if there are any penalties for making extra payments. In a lender's perspective, they make money when a borrower pays the maximum amount of interest on a mortgage, so they may not like to see borrowers pay off their mortgages too early. Therefore, some lenders may pose a penalty for borrowers who switch to biweekly payment plans or other options to pay off their mortgages early.

How to use our early mortgage payoff calculator?

The early mortgage payoff calculator allows you to find out how much interest you will save paying off your mortgage early. There are two ways to use the early mortgage payoff calculator.

• Desired Monthly Payment - by increasing the amount of your current monthly payment, you will see how much interest you will save and how many years earlier will your mortgage be paid off. For example, if you take out a mortgage of $300,000 on a 30 year term with a fixed interest rate of 5%, your monthly mortgage payment would be $1,610.46. If you increase the monthly payment to $2,000, you will pay off your mortgage 10 years earlier with interest savings as much as $107,988.83. 



• A number of years would you like to pay off your mortgage - You can enter how many years that you would like your mortgage to be paid off, and see how much more you need to pay each month to achieve your early payoff goal. For instance, if you have a mortgage of $200,000 with 5% interest on a 30 year term, your monthly payment will be around $1,073.64. If you want to pay off your mortgage 5 years earlier than the 30 year term, you will only have to increase your monthly payment by $95.54 for a total monthly payment of $1,169.18.

Please note the early mortgage payoff calculator does not take into account other fees such as tax and insurance as well as private mortgage insurance if your down payment is less than 20% for your property.

Mortgage Prepayment Definition

Mortgage Amount - this is the original mortgage amount that you applied for. Loan Terms - your original mortgage terms in years, 15 years, and 30 years are the most common terms. Interest Rate - the interest rate for your mortgage Desired Monthly Payment - this is the original mortgage amount that you applied for. If you are currently paying a monthly payment of $1,000, and you increase it by $200, then you will enter an amount of $1,200 for this field. # of years would you like to pay off your mortgage - Check how much more in monthly payment you need to make if you want to pay off your mortgage in certain years. For example, if you are on a 30 year term, you may enter a value for 25 years, and see how much you can save in interest payment.

Early Mortgage Payoff Calculator

Our early mortgage payoff calculator will show you the standard monthly payment, additional payment, payoff date, and total interest savings. You will also get a mortgage payoff amortization schedule that shows you the details of each monthly payment, such as interest and principal paid, and remaining balance. In addition, you can view an original mortgage vs. early mortgage payoff comparison table that shows you the total interest and payment, total interest savings, and the payoff date. Best of all, you can print or save the mortgage payoff amortization schedule in pdf format or share your calculations with others by copying the calculation link.

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