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.

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

Payment Date	Payment #	Interest Paid	Principal Paid	Total Payment	Remaining Balance
Mortgage Payoff Amortization Schedule
Jun, 2023	1	$416.67	$383.33	$800.00	$99,616.67
Jul, 2023	2	$415.07	$384.93	$800.00	$99,231.74
Aug, 2023	3	$413.47	$386.53	$800.00	$98,845.20
Sep, 2023	4	$411.86	$388.14	$800.00	$98,457.06
Oct, 2023	5	$410.24	$389.76	$800.00	$98,067.29
Nov, 2023	6	$408.61	$391.39	$800.00	$97,675.91
Dec, 2023	7	$406.98	$393.02	$800.00	$97,282.89
Jan, 2024	8	$405.35	$394.65	$800.00	$96,888.24
Feb, 2024	9	$403.70	$396.30	$800.00	$96,491.94
Mar, 2024	10	$402.05	$397.95	$800.00	$96,093.99
Apr, 2024	11	$400.39	$399.61	$800.00	$95,694.38
May, 2024	12	$398.73	$401.27	$800.00	$95,293.11
Jun, 2024	13	$397.05	$402.95	$800.00	$94,890.16
Jul, 2024	14	$395.38	$404.62	$800.00	$94,485.54
Aug, 2024	15	$393.69	$406.31	$800.00	$94,079.23
Sep, 2024	16	$392.00	$408.00	$800.00	$93,671.22
Oct, 2024	17	$390.30	$409.70	$800.00	$93,261.52
Nov, 2024	18	$388.59	$411.41	$800.00	$92,850.11
Dec, 2024	19	$386.88	$413.12	$800.00	$92,436.98
Jan, 2025	20	$385.15	$414.85	$800.00	$92,022.14
Feb, 2025	21	$383.43	$416.57	$800.00	$91,605.56
Mar, 2025	22	$381.69	$418.31	$800.00	$91,187.25
Apr, 2025	23	$379.95	$420.05	$800.00	$90,767.20
May, 2025	24	$378.20	$421.80	$800.00	$90,345.40
Jun, 2025	25	$376.44	$423.56	$800.00	$89,921.84
Jul, 2025	26	$374.67	$425.33	$800.00	$89,496.51
Aug, 2025	27	$372.90	$427.10	$800.00	$89,069.41
Sep, 2025	28	$371.12	$428.88	$800.00	$88,640.54
Oct, 2025	29	$369.34	$430.66	$800.00	$88,209.87
Nov, 2025	30	$367.54	$432.46	$800.00	$87,777.41
Dec, 2025	31	$365.74	$434.26	$800.00	$87,343.15
Jan, 2026	32	$363.93	$436.07	$800.00	$86,907.08
Feb, 2026	33	$362.11	$437.89	$800.00	$86,469.19
Mar, 2026	34	$360.29	$439.71	$800.00	$86,029.48
Apr, 2026	35	$358.46	$441.54	$800.00	$85,587.94
May, 2026	36	$356.62	$443.38	$800.00	$85,144.55
Jun, 2026	37	$354.77	$445.23	$800.00	$84,699.32
Jul, 2026	38	$352.91	$447.09	$800.00	$84,252.24
Aug, 2026	39	$351.05	$448.95	$800.00	$83,803.29
Sep, 2026	40	$349.18	$450.82	$800.00	$83,352.47
Oct, 2026	41	$347.30	$452.70	$800.00	$82,899.77
Nov, 2026	42	$345.42	$454.58	$800.00	$82,445.19
Dec, 2026	43	$343.52	$456.48	$800.00	$81,988.71
Jan, 2027	44	$341.62	$458.38	$800.00	$81,530.33
Feb, 2027	45	$339.71	$460.29	$800.00	$81,070.04
Mar, 2027	46	$337.79	$462.21	$800.00	$80,607.83
Apr, 2027	47	$335.87	$464.13	$800.00	$80,143.70
May, 2027	48	$333.93	$466.07	$800.00	$79,677.63
Jun, 2027	49	$331.99	$468.01	$800.00	$79,209.62
Jul, 2027	50	$330.04	$469.96	$800.00	$78,739.66
Aug, 2027	51	$328.08	$471.92	$800.00	$78,267.74
Sep, 2027	52	$326.12	$473.88	$800.00	$77,793.86
Oct, 2027	53	$324.14	$475.86	$800.00	$77,318.00
Nov, 2027	54	$322.16	$477.84	$800.00	$76,840.15
Dec, 2027	55	$320.17	$479.83	$800.00	$76,360.32
Jan, 2028	56	$318.17	$481.83	$800.00	$75,878.49
Feb, 2028	57	$316.16	$483.84	$800.00	$75,394.65
Mar, 2028	58	$314.14	$485.86	$800.00	$74,908.79
Apr, 2028	59	$312.12	$487.88	$800.00	$74,420.91
May, 2028	60	$310.09	$489.91	$800.00	$73,931.00
Jun, 2028	61	$308.05	$491.95	$800.00	$73,439.05
Jul, 2028	62	$306.00	$494.00	$800.00	$72,945.04
Aug, 2028	63	$303.94	$496.06	$800.00	$72,448.98
Sep, 2028	64	$301.87	$498.13	$800.00	$71,950.85
Oct, 2028	65	$299.80	$500.20	$800.00	$71,450.65
Nov, 2028	66	$297.71	$502.29	$800.00	$70,948.36
Dec, 2028	67	$295.62	$504.38	$800.00	$70,443.98
Jan, 2029	68	$293.52	$506.48	$800.00	$69,937.49
Feb, 2029	69	$291.41	$508.59	$800.00	$69,428.90
Mar, 2029	70	$289.29	$510.71	$800.00	$68,918.19
Apr, 2029	71	$287.16	$512.84	$800.00	$68,405.35
May, 2029	72	$285.02	$514.98	$800.00	$67,890.37
Jun, 2029	73	$282.88	$517.12	$800.00	$67,373.24
Jul, 2029	74	$280.72	$519.28	$800.00	$66,853.97
Aug, 2029	75	$278.56	$521.44	$800.00	$66,332.52
Sep, 2029	76	$276.39	$523.61	$800.00	$65,808.91
Oct, 2029	77	$274.20	$525.80	$800.00	$65,283.11
Nov, 2029	78	$272.01	$527.99	$800.00	$64,755.13
Dec, 2029	79	$269.81	$530.19	$800.00	$64,224.94
Jan, 2030	80	$267.60	$532.40	$800.00	$63,692.54
Feb, 2030	81	$265.39	$534.61	$800.00	$63,157.93
Mar, 2030	82	$263.16	$536.84	$800.00	$62,621.09
Apr, 2030	83	$260.92	$539.08	$800.00	$62,082.01
May, 2030	84	$258.68	$541.32	$800.00	$61,540.68
Jun, 2030	85	$256.42	$543.58	$800.00	$60,997.10
Jul, 2030	86	$254.15	$545.85	$800.00	$60,451.26
Aug, 2030	87	$251.88	$548.12	$800.00	$59,903.14
Sep, 2030	88	$249.60	$550.40	$800.00	$59,352.73
Oct, 2030	89	$247.30	$552.70	$800.00	$58,800.04
Nov, 2030	90	$245.00	$555.00	$800.00	$58,245.04
Dec, 2030	91	$242.69	$557.31	$800.00	$57,687.72
Jan, 2031	92	$240.37	$559.63	$800.00	$57,128.09
Feb, 2031	93	$238.03	$561.97	$800.00	$56,566.12
Mar, 2031	94	$235.69	$564.31	$800.00	$56,001.82
Apr, 2031	95	$233.34	$566.66	$800.00	$55,435.16
May, 2031	96	$230.98	$569.02	$800.00	$54,866.14
Jun, 2031	97	$228.61	$571.39	$800.00	$54,294.75
Jul, 2031	98	$226.23	$573.77	$800.00	$53,720.97
Aug, 2031	99	$223.84	$576.16	$800.00	$53,144.81
Sep, 2031	100	$221.44	$578.56	$800.00	$52,566.25
Oct, 2031	101	$219.03	$580.97	$800.00	$51,985.27
Nov, 2031	102	$216.61	$583.39	$800.00	$51,401.88
Dec, 2031	103	$214.17	$585.83	$800.00	$50,816.05
Jan, 2032	104	$211.73	$588.27	$800.00	$50,227.79
Feb, 2032	105	$209.28	$590.72	$800.00	$49,637.07
Mar, 2032	106	$206.82	$593.18	$800.00	$49,043.89
Apr, 2032	107	$204.35	$595.65	$800.00	$48,448.24
May, 2032	108	$201.87	$598.13	$800.00	$47,850.11
Jun, 2032	109	$199.38	$600.62	$800.00	$47,249.48
Jul, 2032	110	$196.87	$603.13	$800.00	$46,646.36
Aug, 2032	111	$194.36	$605.64	$800.00	$46,040.72
Sep, 2032	112	$191.84	$608.16	$800.00	$45,432.55
Oct, 2032	113	$189.30	$610.70	$800.00	$44,821.85
Nov, 2032	114	$186.76	$613.24	$800.00	$44,208.61
Dec, 2032	115	$184.20	$615.80	$800.00	$43,592.82
Jan, 2033	116	$181.64	$618.36	$800.00	$42,974.45
Feb, 2033	117	$179.06	$620.94	$800.00	$42,353.51
Mar, 2033	118	$176.47	$623.53	$800.00	$41,729.99
Apr, 2033	119	$173.87	$626.13	$800.00	$41,103.86
May, 2033	120	$171.27	$628.73	$800.00	$40,475.13
Jun, 2033	121	$168.65	$631.35	$800.00	$39,843.77
Jul, 2033	122	$166.02	$633.98	$800.00	$39,209.79
Aug, 2033	123	$163.37	$636.63	$800.00	$38,573.16
Sep, 2033	124	$160.72	$639.28	$800.00	$37,933.88
Oct, 2033	125	$158.06	$641.94	$800.00	$37,291.94
Nov, 2033	126	$155.38	$644.62	$800.00	$36,647.32
Dec, 2033	127	$152.70	$647.30	$800.00	$36,000.02
Jan, 2034	128	$150.00	$650.00	$800.00	$35,350.02
Feb, 2034	129	$147.29	$652.71	$800.00	$34,697.31
Mar, 2034	130	$144.57	$655.43	$800.00	$34,041.89
Apr, 2034	131	$141.84	$658.16	$800.00	$33,383.73
May, 2034	132	$139.10	$660.90	$800.00	$32,722.83
Jun, 2034	133	$136.35	$663.65	$800.00	$32,059.17
Jul, 2034	134	$133.58	$666.42	$800.00	$31,392.75
Aug, 2034	135	$130.80	$669.20	$800.00	$30,723.55
Sep, 2034	136	$128.01	$671.99	$800.00	$30,051.57
Oct, 2034	137	$125.21	$674.79	$800.00	$29,376.78
Nov, 2034	138	$122.40	$677.60	$800.00	$28,699.19
Dec, 2034	139	$119.58	$680.42	$800.00	$28,018.77
Jan, 2035	140	$116.74	$683.26	$800.00	$27,335.51
Feb, 2035	141	$113.90	$686.10	$800.00	$26,649.41
Mar, 2035	142	$111.04	$688.96	$800.00	$25,960.45
Apr, 2035	143	$108.17	$691.83	$800.00	$25,268.62
May, 2035	144	$105.29	$694.71	$800.00	$24,573.90
Jun, 2035	145	$102.39	$697.61	$800.00	$23,876.29
Jul, 2035	146	$99.48	$700.52	$800.00	$23,175.78
Aug, 2035	147	$96.57	$703.43	$800.00	$22,472.35
Sep, 2035	148	$93.63	$706.37	$800.00	$21,765.98
Oct, 2035	149	$90.69	$709.31	$800.00	$21,056.67
Nov, 2035	150	$87.74	$712.26	$800.00	$20,344.41
Dec, 2035	151	$84.77	$715.23	$800.00	$19,629.18
Jan, 2036	152	$81.79	$718.21	$800.00	$18,910.96
Feb, 2036	153	$78.80	$721.20	$800.00	$18,189.76
Mar, 2036	154	$75.79	$724.21	$800.00	$17,465.55
Apr, 2036	155	$72.77	$727.23	$800.00	$16,738.32
May, 2036	156	$69.74	$730.26	$800.00	$16,008.07
Jun, 2036	157	$66.70	$733.30	$800.00	$15,274.77
Jul, 2036	158	$63.64	$736.36	$800.00	$14,538.41
Aug, 2036	159	$60.58	$739.42	$800.00	$13,798.99
Sep, 2036	160	$57.50	$742.50	$800.00	$13,056.48
Oct, 2036	161	$54.40	$745.60	$800.00	$12,310.89
Nov, 2036	162	$51.30	$748.70	$800.00	$11,562.18
Dec, 2036	163	$48.18	$751.82	$800.00	$10,810.36
Jan, 2037	164	$45.04	$754.96	$800.00	$10,055.40
Feb, 2037	165	$41.90	$758.10	$800.00	$9,297.30
Mar, 2037	166	$38.74	$761.26	$800.00	$8,536.04
Apr, 2037	167	$35.57	$764.43	$800.00	$7,771.60
May, 2037	168	$32.38	$767.62	$800.00	$7,003.99
Jun, 2037	169	$29.18	$770.82	$800.00	$6,233.17
Jul, 2037	170	$25.97	$774.03	$800.00	$5,459.14
Aug, 2037	171	$22.75	$777.25	$800.00	$4,681.89
Sep, 2037	172	$19.51	$780.49	$800.00	$3,901.39
Oct, 2037	173	$16.26	$783.74	$800.00	$3,117.65
Nov, 2037	174	$12.99	$787.01	$800.00	$2,330.64
Dec, 2037	175	$9.71	$790.29	$800.00	$1,540.35
Jan, 2038	176	$6.42	$793.58	$800.00	$746.77
Feb, 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	May, 2053	Feb, 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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Loan Prepayment Calculator
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Mortgage Payoff Calculator Results

Mortgage Payoff Amortization Schedule

Original vs. Mortgage Payoff

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Loan Prepayment Calculator

How to Payoff Your Mortgage Early?

Is Early Mortgage Payoff Right For You?

What is a prepayment penalty?

How to use our early mortgage payoff calculator?

Mortgage Prepayment Definition

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