mortgage calculator

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 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.

Loan Prepayment Calculator

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

Mortgage Payoff Calculator Results

Standard Monthly Payment (Principal & Interest):
$536.82
Additional Monthly Payment:
$263.18
Desire Monthly Payment:
$800.00
Payoff Date:
Sep, 2036
Total Interest Savings:
$51,705.90

Mortgage Payoff Amortization Schedule

Payment Date Payment # Interest Paid Principal Paid Total Payment Remaining Balance
Jan, 2022 1 $416.67 $383.33 $800.00 $99,616.67
Feb, 2022 2 $415.07 $384.93 $800.00 $99,231.74
Mar, 2022 3 $413.47 $386.53 $800.00 $98,845.20
Apr, 2022 4 $411.86 $388.14 $800.00 $98,457.06
May, 2022 5 $410.24 $389.76 $800.00 $98,067.29
Jun, 2022 6 $408.61 $391.39 $800.00 $97,675.91
Jul, 2022 7 $406.98 $393.02 $800.00 $97,282.89
Aug, 2022 8 $405.35 $394.65 $800.00 $96,888.24
Sep, 2022 9 $403.70 $396.30 $800.00 $96,491.94
Oct, 2022 10 $402.05 $397.95 $800.00 $96,093.99
Nov, 2022 11 $400.39 $399.61 $800.00 $95,694.38
Dec, 2022 12 $398.73 $401.27 $800.00 $95,293.11
Jan, 2023 13 $397.05 $402.95 $800.00 $94,890.16
Feb, 2023 14 $395.38 $404.62 $800.00 $94,485.54
Mar, 2023 15 $393.69 $406.31 $800.00 $94,079.23
Apr, 2023 16 $392.00 $408.00 $800.00 $93,671.22
May, 2023 17 $390.30 $409.70 $800.00 $93,261.52
Jun, 2023 18 $388.59 $411.41 $800.00 $92,850.11
Jul, 2023 19 $386.88 $413.12 $800.00 $92,436.98
Aug, 2023 20 $385.15 $414.85 $800.00 $92,022.14
Sep, 2023 21 $383.43 $416.57 $800.00 $91,605.56
Oct, 2023 22 $381.69 $418.31 $800.00 $91,187.25
Nov, 2023 23 $379.95 $420.05 $800.00 $90,767.20
Dec, 2023 24 $378.20 $421.80 $800.00 $90,345.40
Jan, 2024 25 $376.44 $423.56 $800.00 $89,921.84
Feb, 2024 26 $374.67 $425.33 $800.00 $89,496.51
Mar, 2024 27 $372.90 $427.10 $800.00 $89,069.41
Apr, 2024 28 $371.12 $428.88 $800.00 $88,640.54
May, 2024 29 $369.34 $430.66 $800.00 $88,209.87
Jun, 2024 30 $367.54 $432.46 $800.00 $87,777.41
Jul, 2024 31 $365.74 $434.26 $800.00 $87,343.15
Aug, 2024 32 $363.93 $436.07 $800.00 $86,907.08
Sep, 2024 33 $362.11 $437.89 $800.00 $86,469.19
Oct, 2024 34 $360.29 $439.71 $800.00 $86,029.48
Nov, 2024 35 $358.46 $441.54 $800.00 $85,587.94
Dec, 2024 36 $356.62 $443.38 $800.00 $85,144.55
Jan, 2025 37 $354.77 $445.23 $800.00 $84,699.32
Feb, 2025 38 $352.91 $447.09 $800.00 $84,252.24
Mar, 2025 39 $351.05 $448.95 $800.00 $83,803.29
Apr, 2025 40 $349.18 $450.82 $800.00 $83,352.47
May, 2025 41 $347.30 $452.70 $800.00 $82,899.77
Jun, 2025 42 $345.42 $454.58 $800.00 $82,445.19
Jul, 2025 43 $343.52 $456.48 $800.00 $81,988.71
Aug, 2025 44 $341.62 $458.38 $800.00 $81,530.33
Sep, 2025 45 $339.71 $460.29 $800.00 $81,070.04
Oct, 2025 46 $337.79 $462.21 $800.00 $80,607.83
Nov, 2025 47 $335.87 $464.13 $800.00 $80,143.70
Dec, 2025 48 $333.93 $466.07 $800.00 $79,677.63
Jan, 2026 49 $331.99 $468.01 $800.00 $79,209.62
Feb, 2026 50 $330.04 $469.96 $800.00 $78,739.66
Mar, 2026 51 $328.08 $471.92 $800.00 $78,267.74
Apr, 2026 52 $326.12 $473.88 $800.00 $77,793.86
May, 2026 53 $324.14 $475.86 $800.00 $77,318.00
Jun, 2026 54 $322.16 $477.84 $800.00 $76,840.15
Jul, 2026 55 $320.17 $479.83 $800.00 $76,360.32
Aug, 2026 56 $318.17 $481.83 $800.00 $75,878.49
Sep, 2026 57 $316.16 $483.84 $800.00 $75,394.65
Oct, 2026 58 $314.14 $485.86 $800.00 $74,908.79
Nov, 2026 59 $312.12 $487.88 $800.00 $74,420.91
Dec, 2026 60 $310.09 $489.91 $800.00 $73,931.00
Jan, 2027 61 $308.05 $491.95 $800.00 $73,439.05
Feb, 2027 62 $306.00 $494.00 $800.00 $72,945.04
Mar, 2027 63 $303.94 $496.06 $800.00 $72,448.98
Apr, 2027 64 $301.87 $498.13 $800.00 $71,950.85
May, 2027 65 $299.80 $500.20 $800.00 $71,450.65
Jun, 2027 66 $297.71 $502.29 $800.00 $70,948.36
Jul, 2027 67 $295.62 $504.38 $800.00 $70,443.98
Aug, 2027 68 $293.52 $506.48 $800.00 $69,937.49
Sep, 2027 69 $291.41 $508.59 $800.00 $69,428.90
Oct, 2027 70 $289.29 $510.71 $800.00 $68,918.19
Nov, 2027 71 $287.16 $512.84 $800.00 $68,405.35
Dec, 2027 72 $285.02 $514.98 $800.00 $67,890.37
Jan, 2028 73 $282.88 $517.12 $800.00 $67,373.24
Feb, 2028 74 $280.72 $519.28 $800.00 $66,853.97
Mar, 2028 75 $278.56 $521.44 $800.00 $66,332.52
Apr, 2028 76 $276.39 $523.61 $800.00 $65,808.91
May, 2028 77 $274.20 $525.80 $800.00 $65,283.11
Jun, 2028 78 $272.01 $527.99 $800.00 $64,755.13
Jul, 2028 79 $269.81 $530.19 $800.00 $64,224.94
Aug, 2028 80 $267.60 $532.40 $800.00 $63,692.54
Sep, 2028 81 $265.39 $534.61 $800.00 $63,157.93
Oct, 2028 82 $263.16 $536.84 $800.00 $62,621.09
Nov, 2028 83 $260.92 $539.08 $800.00 $62,082.01
Dec, 2028 84 $258.68 $541.32 $800.00 $61,540.68
Jan, 2029 85 $256.42 $543.58 $800.00 $60,997.10
Feb, 2029 86 $254.15 $545.85 $800.00 $60,451.26
Mar, 2029 87 $251.88 $548.12 $800.00 $59,903.14
Apr, 2029 88 $249.60 $550.40 $800.00 $59,352.73
May, 2029 89 $247.30 $552.70 $800.00 $58,800.04
Jun, 2029 90 $245.00 $555.00 $800.00 $58,245.04
Jul, 2029 91 $242.69 $557.31 $800.00 $57,687.72
Aug, 2029 92 $240.37 $559.63 $800.00 $57,128.09
Sep, 2029 93 $238.03 $561.97 $800.00 $56,566.12
Oct, 2029 94 $235.69 $564.31 $800.00 $56,001.82
Nov, 2029 95 $233.34 $566.66 $800.00 $55,435.16
Dec, 2029 96 $230.98 $569.02 $800.00 $54,866.14
Jan, 2030 97 $228.61 $571.39 $800.00 $54,294.75
Feb, 2030 98 $226.23 $573.77 $800.00 $53,720.97
Mar, 2030 99 $223.84 $576.16 $800.00 $53,144.81
Apr, 2030 100 $221.44 $578.56 $800.00 $52,566.25
May, 2030 101 $219.03 $580.97 $800.00 $51,985.27
Jun, 2030 102 $216.61 $583.39 $800.00 $51,401.88
Jul, 2030 103 $214.17 $585.83 $800.00 $50,816.05
Aug, 2030 104 $211.73 $588.27 $800.00 $50,227.79
Sep, 2030 105 $209.28 $590.72 $800.00 $49,637.07
Oct, 2030 106 $206.82 $593.18 $800.00 $49,043.89
Nov, 2030 107 $204.35 $595.65 $800.00 $48,448.24
Dec, 2030 108 $201.87 $598.13 $800.00 $47,850.11
Jan, 2031 109 $199.38 $600.62 $800.00 $47,249.48
Feb, 2031 110 $196.87 $603.13 $800.00 $46,646.36
Mar, 2031 111 $194.36 $605.64 $800.00 $46,040.72
Apr, 2031 112 $191.84 $608.16 $800.00 $45,432.55
May, 2031 113 $189.30 $610.70 $800.00 $44,821.85
Jun, 2031 114 $186.76 $613.24 $800.00 $44,208.61
Jul, 2031 115 $184.20 $615.80 $800.00 $43,592.82
Aug, 2031 116 $181.64 $618.36 $800.00 $42,974.45
Sep, 2031 117 $179.06 $620.94 $800.00 $42,353.51
Oct, 2031 118 $176.47 $623.53 $800.00 $41,729.99
Nov, 2031 119 $173.87 $626.13 $800.00 $41,103.86
Dec, 2031 120 $171.27 $628.73 $800.00 $40,475.13
Jan, 2032 121 $168.65 $631.35 $800.00 $39,843.77
Feb, 2032 122 $166.02 $633.98 $800.00 $39,209.79
Mar, 2032 123 $163.37 $636.63 $800.00 $38,573.16
Apr, 2032 124 $160.72 $639.28 $800.00 $37,933.88
May, 2032 125 $158.06 $641.94 $800.00 $37,291.94
Jun, 2032 126 $155.38 $644.62 $800.00 $36,647.32
Jul, 2032 127 $152.70 $647.30 $800.00 $36,000.02
Aug, 2032 128 $150.00 $650.00 $800.00 $35,350.02
Sep, 2032 129 $147.29 $652.71 $800.00 $34,697.31
Oct, 2032 130 $144.57 $655.43 $800.00 $34,041.89
Nov, 2032 131 $141.84 $658.16 $800.00 $33,383.73
Dec, 2032 132 $139.10 $660.90 $800.00 $32,722.83
Jan, 2033 133 $136.35 $663.65 $800.00 $32,059.17
Feb, 2033 134 $133.58 $666.42 $800.00 $31,392.75
Mar, 2033 135 $130.80 $669.20 $800.00 $30,723.55
Apr, 2033 136 $128.01 $671.99 $800.00 $30,051.57
May, 2033 137 $125.21 $674.79 $800.00 $29,376.78
Jun, 2033 138 $122.40 $677.60 $800.00 $28,699.19
Jul, 2033 139 $119.58 $680.42 $800.00 $28,018.77
Aug, 2033 140 $116.74 $683.26 $800.00 $27,335.51
Sep, 2033 141 $113.90 $686.10 $800.00 $26,649.41
Oct, 2033 142 $111.04 $688.96 $800.00 $25,960.45
Nov, 2033 143 $108.17 $691.83 $800.00 $25,268.62
Dec, 2033 144 $105.29 $694.71 $800.00 $24,573.90
Jan, 2034 145 $102.39 $697.61 $800.00 $23,876.29
Feb, 2034 146 $99.48 $700.52 $800.00 $23,175.78
Mar, 2034 147 $96.57 $703.43 $800.00 $22,472.35
Apr, 2034 148 $93.63 $706.37 $800.00 $21,765.98
May, 2034 149 $90.69 $709.31 $800.00 $21,056.67
Jun, 2034 150 $87.74 $712.26 $800.00 $20,344.41
Jul, 2034 151 $84.77 $715.23 $800.00 $19,629.18
Aug, 2034 152 $81.79 $718.21 $800.00 $18,910.96
Sep, 2034 153 $78.80 $721.20 $800.00 $18,189.76
Oct, 2034 154 $75.79 $724.21 $800.00 $17,465.55
Nov, 2034 155 $72.77 $727.23 $800.00 $16,738.32
Dec, 2034 156 $69.74 $730.26 $800.00 $16,008.07
Jan, 2035 157 $66.70 $733.30 $800.00 $15,274.77
Feb, 2035 158 $63.64 $736.36 $800.00 $14,538.41
Mar, 2035 159 $60.58 $739.42 $800.00 $13,798.99
Apr, 2035 160 $57.50 $742.50 $800.00 $13,056.48
May, 2035 161 $54.40 $745.60 $800.00 $12,310.89
Jun, 2035 162 $51.30 $748.70 $800.00 $11,562.18
Jul, 2035 163 $48.18 $751.82 $800.00 $10,810.36
Aug, 2035 164 $45.04 $754.96 $800.00 $10,055.40
Sep, 2035 165 $41.90 $758.10 $800.00 $9,297.30
Oct, 2035 166 $38.74 $761.26 $800.00 $8,536.04
Nov, 2035 167 $35.57 $764.43 $800.00 $7,771.60
Dec, 2035 168 $32.38 $767.62 $800.00 $7,003.99
Jan, 2036 169 $29.18 $770.82 $800.00 $6,233.17
Feb, 2036 170 $25.97 $774.03 $800.00 $5,459.14
Mar, 2036 171 $22.75 $777.25 $800.00 $4,681.89
Apr, 2036 172 $19.51 $780.49 $800.00 $3,901.39
May, 2036 173 $16.26 $783.74 $800.00 $3,117.65
Jun, 2036 174 $12.99 $787.01 $800.00 $2,330.64
Jul, 2036 175 $9.71 $790.29 $800.00 $1,540.35
Aug, 2036 176 $6.42 $793.58 $800.00 $746.77
Sep, 2036 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 Dec, 2051 Sep, 2036

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Loan Prepayment Calculator

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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