Mortgage Prepayment Calculator

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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:	Jun, 2039
Total Interest Savings:	$51,705.90

Mortgage Payoff Amortization Schedule
Payment Date	Payment #	Interest Paid	Principal Paid	Total Payment	Remaining Balance
Oct, 2024	1	$416.67	$383.33	$800.00	$99,616.67
Nov, 2024	2	$415.07	$384.93	$800.00	$99,231.74
Dec, 2024	3	$413.47	$386.53	$800.00	$98,845.20
Jan, 2025	4	$411.86	$388.14	$800.00	$98,457.06
Feb, 2025	5	$410.24	$389.76	$800.00	$98,067.29
Mar, 2025	6	$408.61	$391.39	$800.00	$97,675.91
Apr, 2025	7	$406.98	$393.02	$800.00	$97,282.89
May, 2025	8	$405.35	$394.65	$800.00	$96,888.24
Jun, 2025	9	$403.70	$396.30	$800.00	$96,491.94
Jul, 2025	10	$402.05	$397.95	$800.00	$96,093.99
Aug, 2025	11	$400.39	$399.61	$800.00	$95,694.38
Sep, 2025	12	$398.73	$401.27	$800.00	$95,293.11
Oct, 2025	13	$397.05	$402.95	$800.00	$94,890.16
Nov, 2025	14	$395.38	$404.62	$800.00	$94,485.54
Dec, 2025	15	$393.69	$406.31	$800.00	$94,079.23
Jan, 2026	16	$392.00	$408.00	$800.00	$93,671.22
Feb, 2026	17	$390.30	$409.70	$800.00	$93,261.52
Mar, 2026	18	$388.59	$411.41	$800.00	$92,850.11
Apr, 2026	19	$386.88	$413.12	$800.00	$92,436.98
May, 2026	20	$385.15	$414.85	$800.00	$92,022.14
Jun, 2026	21	$383.43	$416.57	$800.00	$91,605.56
Jul, 2026	22	$381.69	$418.31	$800.00	$91,187.25
Aug, 2026	23	$379.95	$420.05	$800.00	$90,767.20
Sep, 2026	24	$378.20	$421.80	$800.00	$90,345.40
Oct, 2026	25	$376.44	$423.56	$800.00	$89,921.84
Nov, 2026	26	$374.67	$425.33	$800.00	$89,496.51
Dec, 2026	27	$372.90	$427.10	$800.00	$89,069.41
Jan, 2027	28	$371.12	$428.88	$800.00	$88,640.54
Feb, 2027	29	$369.34	$430.66	$800.00	$88,209.87
Mar, 2027	30	$367.54	$432.46	$800.00	$87,777.41
Apr, 2027	31	$365.74	$434.26	$800.00	$87,343.15
May, 2027	32	$363.93	$436.07	$800.00	$86,907.08
Jun, 2027	33	$362.11	$437.89	$800.00	$86,469.19
Jul, 2027	34	$360.29	$439.71	$800.00	$86,029.48
Aug, 2027	35	$358.46	$441.54	$800.00	$85,587.94
Sep, 2027	36	$356.62	$443.38	$800.00	$85,144.55
Oct, 2027	37	$354.77	$445.23	$800.00	$84,699.32
Nov, 2027	38	$352.91	$447.09	$800.00	$84,252.24
Dec, 2027	39	$351.05	$448.95	$800.00	$83,803.29
Jan, 2028	40	$349.18	$450.82	$800.00	$83,352.47
Feb, 2028	41	$347.30	$452.70	$800.00	$82,899.77
Mar, 2028	42	$345.42	$454.58	$800.00	$82,445.19
Apr, 2028	43	$343.52	$456.48	$800.00	$81,988.71
May, 2028	44	$341.62	$458.38	$800.00	$81,530.33
Jun, 2028	45	$339.71	$460.29	$800.00	$81,070.04
Jul, 2028	46	$337.79	$462.21	$800.00	$80,607.83
Aug, 2028	47	$335.87	$464.13	$800.00	$80,143.70
Sep, 2028	48	$333.93	$466.07	$800.00	$79,677.63
Oct, 2028	49	$331.99	$468.01	$800.00	$79,209.62
Nov, 2028	50	$330.04	$469.96	$800.00	$78,739.66
Dec, 2028	51	$328.08	$471.92	$800.00	$78,267.74
Jan, 2029	52	$326.12	$473.88	$800.00	$77,793.86
Feb, 2029	53	$324.14	$475.86	$800.00	$77,318.00
Mar, 2029	54	$322.16	$477.84	$800.00	$76,840.15
Apr, 2029	55	$320.17	$479.83	$800.00	$76,360.32
May, 2029	56	$318.17	$481.83	$800.00	$75,878.49
Jun, 2029	57	$316.16	$483.84	$800.00	$75,394.65
Jul, 2029	58	$314.14	$485.86	$800.00	$74,908.79
Aug, 2029	59	$312.12	$487.88	$800.00	$74,420.91
Sep, 2029	60	$310.09	$489.91	$800.00	$73,931.00
Oct, 2029	61	$308.05	$491.95	$800.00	$73,439.05
Nov, 2029	62	$306.00	$494.00	$800.00	$72,945.04
Dec, 2029	63	$303.94	$496.06	$800.00	$72,448.98
Jan, 2030	64	$301.87	$498.13	$800.00	$71,950.85
Feb, 2030	65	$299.80	$500.20	$800.00	$71,450.65
Mar, 2030	66	$297.71	$502.29	$800.00	$70,948.36
Apr, 2030	67	$295.62	$504.38	$800.00	$70,443.98
May, 2030	68	$293.52	$506.48	$800.00	$69,937.49
Jun, 2030	69	$291.41	$508.59	$800.00	$69,428.90
Jul, 2030	70	$289.29	$510.71	$800.00	$68,918.19
Aug, 2030	71	$287.16	$512.84	$800.00	$68,405.35
Sep, 2030	72	$285.02	$514.98	$800.00	$67,890.37
Oct, 2030	73	$282.88	$517.12	$800.00	$67,373.24
Nov, 2030	74	$280.72	$519.28	$800.00	$66,853.97
Dec, 2030	75	$278.56	$521.44	$800.00	$66,332.52
Jan, 2031	76	$276.39	$523.61	$800.00	$65,808.91
Feb, 2031	77	$274.20	$525.80	$800.00	$65,283.11
Mar, 2031	78	$272.01	$527.99	$800.00	$64,755.13
Apr, 2031	79	$269.81	$530.19	$800.00	$64,224.94
May, 2031	80	$267.60	$532.40	$800.00	$63,692.54
Jun, 2031	81	$265.39	$534.61	$800.00	$63,157.93
Jul, 2031	82	$263.16	$536.84	$800.00	$62,621.09
Aug, 2031	83	$260.92	$539.08	$800.00	$62,082.01
Sep, 2031	84	$258.68	$541.32	$800.00	$61,540.68
Oct, 2031	85	$256.42	$543.58	$800.00	$60,997.10
Nov, 2031	86	$254.15	$545.85	$800.00	$60,451.26
Dec, 2031	87	$251.88	$548.12	$800.00	$59,903.14
Jan, 2032	88	$249.60	$550.40	$800.00	$59,352.73
Feb, 2032	89	$247.30	$552.70	$800.00	$58,800.04
Mar, 2032	90	$245.00	$555.00	$800.00	$58,245.04
Apr, 2032	91	$242.69	$557.31	$800.00	$57,687.72
May, 2032	92	$240.37	$559.63	$800.00	$57,128.09
Jun, 2032	93	$238.03	$561.97	$800.00	$56,566.12
Jul, 2032	94	$235.69	$564.31	$800.00	$56,001.82
Aug, 2032	95	$233.34	$566.66	$800.00	$55,435.16
Sep, 2032	96	$230.98	$569.02	$800.00	$54,866.14
Oct, 2032	97	$228.61	$571.39	$800.00	$54,294.75
Nov, 2032	98	$226.23	$573.77	$800.00	$53,720.97
Dec, 2032	99	$223.84	$576.16	$800.00	$53,144.81
Jan, 2033	100	$221.44	$578.56	$800.00	$52,566.25
Feb, 2033	101	$219.03	$580.97	$800.00	$51,985.27
Mar, 2033	102	$216.61	$583.39	$800.00	$51,401.88
Apr, 2033	103	$214.17	$585.83	$800.00	$50,816.05
May, 2033	104	$211.73	$588.27	$800.00	$50,227.79
Jun, 2033	105	$209.28	$590.72	$800.00	$49,637.07
Jul, 2033	106	$206.82	$593.18	$800.00	$49,043.89
Aug, 2033	107	$204.35	$595.65	$800.00	$48,448.24
Sep, 2033	108	$201.87	$598.13	$800.00	$47,850.11
Oct, 2033	109	$199.38	$600.62	$800.00	$47,249.48
Nov, 2033	110	$196.87	$603.13	$800.00	$46,646.36
Dec, 2033	111	$194.36	$605.64	$800.00	$46,040.72
Jan, 2034	112	$191.84	$608.16	$800.00	$45,432.55
Feb, 2034	113	$189.30	$610.70	$800.00	$44,821.85
Mar, 2034	114	$186.76	$613.24	$800.00	$44,208.61
Apr, 2034	115	$184.20	$615.80	$800.00	$43,592.82
May, 2034	116	$181.64	$618.36	$800.00	$42,974.45
Jun, 2034	117	$179.06	$620.94	$800.00	$42,353.51
Jul, 2034	118	$176.47	$623.53	$800.00	$41,729.99
Aug, 2034	119	$173.87	$626.13	$800.00	$41,103.86
Sep, 2034	120	$171.27	$628.73	$800.00	$40,475.13
Oct, 2034	121	$168.65	$631.35	$800.00	$39,843.77
Nov, 2034	122	$166.02	$633.98	$800.00	$39,209.79
Dec, 2034	123	$163.37	$636.63	$800.00	$38,573.16
Jan, 2035	124	$160.72	$639.28	$800.00	$37,933.88
Feb, 2035	125	$158.06	$641.94	$800.00	$37,291.94
Mar, 2035	126	$155.38	$644.62	$800.00	$36,647.32
Apr, 2035	127	$152.70	$647.30	$800.00	$36,000.02
May, 2035	128	$150.00	$650.00	$800.00	$35,350.02
Jun, 2035	129	$147.29	$652.71	$800.00	$34,697.31
Jul, 2035	130	$144.57	$655.43	$800.00	$34,041.89
Aug, 2035	131	$141.84	$658.16	$800.00	$33,383.73
Sep, 2035	132	$139.10	$660.90	$800.00	$32,722.83
Oct, 2035	133	$136.35	$663.65	$800.00	$32,059.17
Nov, 2035	134	$133.58	$666.42	$800.00	$31,392.75
Dec, 2035	135	$130.80	$669.20	$800.00	$30,723.55
Jan, 2036	136	$128.01	$671.99	$800.00	$30,051.57
Feb, 2036	137	$125.21	$674.79	$800.00	$29,376.78
Mar, 2036	138	$122.40	$677.60	$800.00	$28,699.19
Apr, 2036	139	$119.58	$680.42	$800.00	$28,018.77
May, 2036	140	$116.74	$683.26	$800.00	$27,335.51
Jun, 2036	141	$113.90	$686.10	$800.00	$26,649.41
Jul, 2036	142	$111.04	$688.96	$800.00	$25,960.45
Aug, 2036	143	$108.17	$691.83	$800.00	$25,268.62
Sep, 2036	144	$105.29	$694.71	$800.00	$24,573.90
Oct, 2036	145	$102.39	$697.61	$800.00	$23,876.29
Nov, 2036	146	$99.48	$700.52	$800.00	$23,175.78
Dec, 2036	147	$96.57	$703.43	$800.00	$22,472.35
Jan, 2037	148	$93.63	$706.37	$800.00	$21,765.98
Feb, 2037	149	$90.69	$709.31	$800.00	$21,056.67
Mar, 2037	150	$87.74	$712.26	$800.00	$20,344.41
Apr, 2037	151	$84.77	$715.23	$800.00	$19,629.18
May, 2037	152	$81.79	$718.21	$800.00	$18,910.96
Jun, 2037	153	$78.80	$721.20	$800.00	$18,189.76
Jul, 2037	154	$75.79	$724.21	$800.00	$17,465.55
Aug, 2037	155	$72.77	$727.23	$800.00	$16,738.32
Sep, 2037	156	$69.74	$730.26	$800.00	$16,008.07
Oct, 2037	157	$66.70	$733.30	$800.00	$15,274.77
Nov, 2037	158	$63.64	$736.36	$800.00	$14,538.41
Dec, 2037	159	$60.58	$739.42	$800.00	$13,798.99
Jan, 2038	160	$57.50	$742.50	$800.00	$13,056.48
Feb, 2038	161	$54.40	$745.60	$800.00	$12,310.89
Mar, 2038	162	$51.30	$748.70	$800.00	$11,562.18
Apr, 2038	163	$48.18	$751.82	$800.00	$10,810.36
May, 2038	164	$45.04	$754.96	$800.00	$10,055.40
Jun, 2038	165	$41.90	$758.10	$800.00	$9,297.30
Jul, 2038	166	$38.74	$761.26	$800.00	$8,536.04
Aug, 2038	167	$35.57	$764.43	$800.00	$7,771.60
Sep, 2038	168	$32.38	$767.62	$800.00	$7,003.99
Oct, 2038	169	$29.18	$770.82	$800.00	$6,233.17
Nov, 2038	170	$25.97	$774.03	$800.00	$5,459.14
Dec, 2038	171	$22.75	$777.25	$800.00	$4,681.89
Jan, 2039	172	$19.51	$780.49	$800.00	$3,901.39
Feb, 2039	173	$16.26	$783.74	$800.00	$3,117.65
Mar, 2039	174	$12.99	$787.01	$800.00	$2,330.64
Apr, 2039	175	$9.71	$790.29	$800.00	$1,540.35
May, 2039	176	$6.42	$793.58	$800.00	$746.77
Jun, 2039	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	Sep, 2054	Jun, 2039

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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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