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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
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Mortgage Payoff Calculator Results

Standard Monthly Payment (Principal & Interest):
$536.82
Additional Monthly Payment:
$263.18
Desire Monthly Payment:
$800.00
Payoff Date:
Oct, 2038
Total Interest Savings:
$51,705.90

Mortgage Payoff Amortization Schedule

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

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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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