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:
Jun, 2037
Total Interest Savings:
$51,705.90

Mortgage Payoff Amortization Schedule

Payment Date Payment # Interest Paid Principal Paid Total Payment Remaining Balance
Oct, 2022 1 $416.67 $383.33 $800.00 $99,616.67
Nov, 2022 2 $415.07 $384.93 $800.00 $99,231.74
Dec, 2022 3 $413.47 $386.53 $800.00 $98,845.20
Jan, 2023 4 $411.86 $388.14 $800.00 $98,457.06
Feb, 2023 5 $410.24 $389.76 $800.00 $98,067.29
Mar, 2023 6 $408.61 $391.39 $800.00 $97,675.91
Apr, 2023 7 $406.98 $393.02 $800.00 $97,282.89
May, 2023 8 $405.35 $394.65 $800.00 $96,888.24
Jun, 2023 9 $403.70 $396.30 $800.00 $96,491.94
Jul, 2023 10 $402.05 $397.95 $800.00 $96,093.99
Aug, 2023 11 $400.39 $399.61 $800.00 $95,694.38
Sep, 2023 12 $398.73 $401.27 $800.00 $95,293.11
Oct, 2023 13 $397.05 $402.95 $800.00 $94,890.16
Nov, 2023 14 $395.38 $404.62 $800.00 $94,485.54
Dec, 2023 15 $393.69 $406.31 $800.00 $94,079.23
Jan, 2024 16 $392.00 $408.00 $800.00 $93,671.22
Feb, 2024 17 $390.30 $409.70 $800.00 $93,261.52
Mar, 2024 18 $388.59 $411.41 $800.00 $92,850.11
Apr, 2024 19 $386.88 $413.12 $800.00 $92,436.98
May, 2024 20 $385.15 $414.85 $800.00 $92,022.14
Jun, 2024 21 $383.43 $416.57 $800.00 $91,605.56
Jul, 2024 22 $381.69 $418.31 $800.00 $91,187.25
Aug, 2024 23 $379.95 $420.05 $800.00 $90,767.20
Sep, 2024 24 $378.20 $421.80 $800.00 $90,345.40
Oct, 2024 25 $376.44 $423.56 $800.00 $89,921.84
Nov, 2024 26 $374.67 $425.33 $800.00 $89,496.51
Dec, 2024 27 $372.90 $427.10 $800.00 $89,069.41
Jan, 2025 28 $371.12 $428.88 $800.00 $88,640.54
Feb, 2025 29 $369.34 $430.66 $800.00 $88,209.87
Mar, 2025 30 $367.54 $432.46 $800.00 $87,777.41
Apr, 2025 31 $365.74 $434.26 $800.00 $87,343.15
May, 2025 32 $363.93 $436.07 $800.00 $86,907.08
Jun, 2025 33 $362.11 $437.89 $800.00 $86,469.19
Jul, 2025 34 $360.29 $439.71 $800.00 $86,029.48
Aug, 2025 35 $358.46 $441.54 $800.00 $85,587.94
Sep, 2025 36 $356.62 $443.38 $800.00 $85,144.55
Oct, 2025 37 $354.77 $445.23 $800.00 $84,699.32
Nov, 2025 38 $352.91 $447.09 $800.00 $84,252.24
Dec, 2025 39 $351.05 $448.95 $800.00 $83,803.29
Jan, 2026 40 $349.18 $450.82 $800.00 $83,352.47
Feb, 2026 41 $347.30 $452.70 $800.00 $82,899.77
Mar, 2026 42 $345.42 $454.58 $800.00 $82,445.19
Apr, 2026 43 $343.52 $456.48 $800.00 $81,988.71
May, 2026 44 $341.62 $458.38 $800.00 $81,530.33
Jun, 2026 45 $339.71 $460.29 $800.00 $81,070.04
Jul, 2026 46 $337.79 $462.21 $800.00 $80,607.83
Aug, 2026 47 $335.87 $464.13 $800.00 $80,143.70
Sep, 2026 48 $333.93 $466.07 $800.00 $79,677.63
Oct, 2026 49 $331.99 $468.01 $800.00 $79,209.62
Nov, 2026 50 $330.04 $469.96 $800.00 $78,739.66
Dec, 2026 51 $328.08 $471.92 $800.00 $78,267.74
Jan, 2027 52 $326.12 $473.88 $800.00 $77,793.86
Feb, 2027 53 $324.14 $475.86 $800.00 $77,318.00
Mar, 2027 54 $322.16 $477.84 $800.00 $76,840.15
Apr, 2027 55 $320.17 $479.83 $800.00 $76,360.32
May, 2027 56 $318.17 $481.83 $800.00 $75,878.49
Jun, 2027 57 $316.16 $483.84 $800.00 $75,394.65
Jul, 2027 58 $314.14 $485.86 $800.00 $74,908.79
Aug, 2027 59 $312.12 $487.88 $800.00 $74,420.91
Sep, 2027 60 $310.09 $489.91 $800.00 $73,931.00
Oct, 2027 61 $308.05 $491.95 $800.00 $73,439.05
Nov, 2027 62 $306.00 $494.00 $800.00 $72,945.04
Dec, 2027 63 $303.94 $496.06 $800.00 $72,448.98
Jan, 2028 64 $301.87 $498.13 $800.00 $71,950.85
Feb, 2028 65 $299.80 $500.20 $800.00 $71,450.65
Mar, 2028 66 $297.71 $502.29 $800.00 $70,948.36
Apr, 2028 67 $295.62 $504.38 $800.00 $70,443.98
May, 2028 68 $293.52 $506.48 $800.00 $69,937.49
Jun, 2028 69 $291.41 $508.59 $800.00 $69,428.90
Jul, 2028 70 $289.29 $510.71 $800.00 $68,918.19
Aug, 2028 71 $287.16 $512.84 $800.00 $68,405.35
Sep, 2028 72 $285.02 $514.98 $800.00 $67,890.37
Oct, 2028 73 $282.88 $517.12 $800.00 $67,373.24
Nov, 2028 74 $280.72 $519.28 $800.00 $66,853.97
Dec, 2028 75 $278.56 $521.44 $800.00 $66,332.52
Jan, 2029 76 $276.39 $523.61 $800.00 $65,808.91
Feb, 2029 77 $274.20 $525.80 $800.00 $65,283.11
Mar, 2029 78 $272.01 $527.99 $800.00 $64,755.13
Apr, 2029 79 $269.81 $530.19 $800.00 $64,224.94
May, 2029 80 $267.60 $532.40 $800.00 $63,692.54
Jun, 2029 81 $265.39 $534.61 $800.00 $63,157.93
Jul, 2029 82 $263.16 $536.84 $800.00 $62,621.09
Aug, 2029 83 $260.92 $539.08 $800.00 $62,082.01
Sep, 2029 84 $258.68 $541.32 $800.00 $61,540.68
Oct, 2029 85 $256.42 $543.58 $800.00 $60,997.10
Nov, 2029 86 $254.15 $545.85 $800.00 $60,451.26
Dec, 2029 87 $251.88 $548.12 $800.00 $59,903.14
Jan, 2030 88 $249.60 $550.40 $800.00 $59,352.73
Feb, 2030 89 $247.30 $552.70 $800.00 $58,800.04
Mar, 2030 90 $245.00 $555.00 $800.00 $58,245.04
Apr, 2030 91 $242.69 $557.31 $800.00 $57,687.72
May, 2030 92 $240.37 $559.63 $800.00 $57,128.09
Jun, 2030 93 $238.03 $561.97 $800.00 $56,566.12
Jul, 2030 94 $235.69 $564.31 $800.00 $56,001.82
Aug, 2030 95 $233.34 $566.66 $800.00 $55,435.16
Sep, 2030 96 $230.98 $569.02 $800.00 $54,866.14
Oct, 2030 97 $228.61 $571.39 $800.00 $54,294.75
Nov, 2030 98 $226.23 $573.77 $800.00 $53,720.97
Dec, 2030 99 $223.84 $576.16 $800.00 $53,144.81
Jan, 2031 100 $221.44 $578.56 $800.00 $52,566.25
Feb, 2031 101 $219.03 $580.97 $800.00 $51,985.27
Mar, 2031 102 $216.61 $583.39 $800.00 $51,401.88
Apr, 2031 103 $214.17 $585.83 $800.00 $50,816.05
May, 2031 104 $211.73 $588.27 $800.00 $50,227.79
Jun, 2031 105 $209.28 $590.72 $800.00 $49,637.07
Jul, 2031 106 $206.82 $593.18 $800.00 $49,043.89
Aug, 2031 107 $204.35 $595.65 $800.00 $48,448.24
Sep, 2031 108 $201.87 $598.13 $800.00 $47,850.11
Oct, 2031 109 $199.38 $600.62 $800.00 $47,249.48
Nov, 2031 110 $196.87 $603.13 $800.00 $46,646.36
Dec, 2031 111 $194.36 $605.64 $800.00 $46,040.72
Jan, 2032 112 $191.84 $608.16 $800.00 $45,432.55
Feb, 2032 113 $189.30 $610.70 $800.00 $44,821.85
Mar, 2032 114 $186.76 $613.24 $800.00 $44,208.61
Apr, 2032 115 $184.20 $615.80 $800.00 $43,592.82
May, 2032 116 $181.64 $618.36 $800.00 $42,974.45
Jun, 2032 117 $179.06 $620.94 $800.00 $42,353.51
Jul, 2032 118 $176.47 $623.53 $800.00 $41,729.99
Aug, 2032 119 $173.87 $626.13 $800.00 $41,103.86
Sep, 2032 120 $171.27 $628.73 $800.00 $40,475.13
Oct, 2032 121 $168.65 $631.35 $800.00 $39,843.77
Nov, 2032 122 $166.02 $633.98 $800.00 $39,209.79
Dec, 2032 123 $163.37 $636.63 $800.00 $38,573.16
Jan, 2033 124 $160.72 $639.28 $800.00 $37,933.88
Feb, 2033 125 $158.06 $641.94 $800.00 $37,291.94
Mar, 2033 126 $155.38 $644.62 $800.00 $36,647.32
Apr, 2033 127 $152.70 $647.30 $800.00 $36,000.02
May, 2033 128 $150.00 $650.00 $800.00 $35,350.02
Jun, 2033 129 $147.29 $652.71 $800.00 $34,697.31
Jul, 2033 130 $144.57 $655.43 $800.00 $34,041.89
Aug, 2033 131 $141.84 $658.16 $800.00 $33,383.73
Sep, 2033 132 $139.10 $660.90 $800.00 $32,722.83
Oct, 2033 133 $136.35 $663.65 $800.00 $32,059.17
Nov, 2033 134 $133.58 $666.42 $800.00 $31,392.75
Dec, 2033 135 $130.80 $669.20 $800.00 $30,723.55
Jan, 2034 136 $128.01 $671.99 $800.00 $30,051.57
Feb, 2034 137 $125.21 $674.79 $800.00 $29,376.78
Mar, 2034 138 $122.40 $677.60 $800.00 $28,699.19
Apr, 2034 139 $119.58 $680.42 $800.00 $28,018.77
May, 2034 140 $116.74 $683.26 $800.00 $27,335.51
Jun, 2034 141 $113.90 $686.10 $800.00 $26,649.41
Jul, 2034 142 $111.04 $688.96 $800.00 $25,960.45
Aug, 2034 143 $108.17 $691.83 $800.00 $25,268.62
Sep, 2034 144 $105.29 $694.71 $800.00 $24,573.90
Oct, 2034 145 $102.39 $697.61 $800.00 $23,876.29
Nov, 2034 146 $99.48 $700.52 $800.00 $23,175.78
Dec, 2034 147 $96.57 $703.43 $800.00 $22,472.35
Jan, 2035 148 $93.63 $706.37 $800.00 $21,765.98
Feb, 2035 149 $90.69 $709.31 $800.00 $21,056.67
Mar, 2035 150 $87.74 $712.26 $800.00 $20,344.41
Apr, 2035 151 $84.77 $715.23 $800.00 $19,629.18
May, 2035 152 $81.79 $718.21 $800.00 $18,910.96
Jun, 2035 153 $78.80 $721.20 $800.00 $18,189.76
Jul, 2035 154 $75.79 $724.21 $800.00 $17,465.55
Aug, 2035 155 $72.77 $727.23 $800.00 $16,738.32
Sep, 2035 156 $69.74 $730.26 $800.00 $16,008.07
Oct, 2035 157 $66.70 $733.30 $800.00 $15,274.77
Nov, 2035 158 $63.64 $736.36 $800.00 $14,538.41
Dec, 2035 159 $60.58 $739.42 $800.00 $13,798.99
Jan, 2036 160 $57.50 $742.50 $800.00 $13,056.48
Feb, 2036 161 $54.40 $745.60 $800.00 $12,310.89
Mar, 2036 162 $51.30 $748.70 $800.00 $11,562.18
Apr, 2036 163 $48.18 $751.82 $800.00 $10,810.36
May, 2036 164 $45.04 $754.96 $800.00 $10,055.40
Jun, 2036 165 $41.90 $758.10 $800.00 $9,297.30
Jul, 2036 166 $38.74 $761.26 $800.00 $8,536.04
Aug, 2036 167 $35.57 $764.43 $800.00 $7,771.60
Sep, 2036 168 $32.38 $767.62 $800.00 $7,003.99
Oct, 2036 169 $29.18 $770.82 $800.00 $6,233.17
Nov, 2036 170 $25.97 $774.03 $800.00 $5,459.14
Dec, 2036 171 $22.75 $777.25 $800.00 $4,681.89
Jan, 2037 172 $19.51 $780.49 $800.00 $3,901.39
Feb, 2037 173 $16.26 $783.74 $800.00 $3,117.65
Mar, 2037 174 $12.99 $787.01 $800.00 $2,330.64
Apr, 2037 175 $9.71 $790.29 $800.00 $1,540.35
May, 2037 176 $6.42 $793.58 $800.00 $746.77
Jun, 2037 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, 2052 Jun, 2037

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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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