Early Payoff Calculator
See exactly how much time and money you can save by making extra payments on your loan. Compare your original schedule to an accelerated payoff plan.
Estimated remaining term: 4y 11m — based on your balance, rate, and payment
Time Saved
1y 6m
$1,054 in estimated interest savings
Interest Saved
$1,054
Original Payoff
January 2031
New Payoff
July 2029
Remaining Balance Over Time
Current Loan Details
Extra Payment Options
Estimated Interest Savings
$906
Payoff 16 months earlier (1 year and 4 months)
New payoff date
December 2029
Time Saved
16 months
Total Interest
Effective Return
19.7%
Original Loan
With Extra Payments
Loan Balance Over Time
The accelerated line shows the projected payoff with extra payments. The shaded area represents cumulative interest savings.
Interest Comparison
Side-by-side view of principal and interest paid under each scenario.
Amortization Schedule
| Month | Payment | Principal | Interest | Extra | Balance | Total Int. |
|---|---|---|---|---|---|---|
| 1 | $450.00 | $345.00 | $105.00 | $100.00 | $17,655 | $105 |
| 2 | $450.00 | $347.01 | $102.99 | $100.00 | $17,308 | $208 |
| 3 | $450.00 | $349.04 | $100.96 | $100.00 | $16,959 | $309 |
| 4 | $450.00 | $351.07 | $98.93 | $100.00 | $16,608 | $408 |
| 5 | $450.00 | $353.12 | $96.88 | $100.00 | $16,255 | $505 |
| 6 | $450.00 | $355.18 | $94.82 | $100.00 | $15,900 | $600 |
| 7 | $450.00 | $357.25 | $92.75 | $100.00 | $15,542 | $692 |
| 8 | $450.00 | $359.34 | $90.66 | $100.00 | $15,183 | $783 |
| 9 | $450.00 | $361.43 | $88.57 | $100.00 | $14,822 | $872 |
| 10 | $450.00 | $363.54 | $86.46 | $100.00 | $14,458 | $958 |
| 11 | $450.00 | $365.66 | $84.34 | $100.00 | $14,092 | $1,042 |
| 12 | $450.00 | $367.79 | $82.21 | $100.00 | $13,725 | $1,125 |
| 13 | $450.00 | $369.94 | $80.06 | $100.00 | $13,355 | $1,205 |
| 14 | $450.00 | $372.10 | $77.90 | $100.00 | $12,983 | $1,283 |
| 15 | $450.00 | $374.27 | $75.73 | $100.00 | $12,608 | $1,358 |
| 16 | $450.00 | $376.45 | $73.55 | $100.00 | $12,232 | $1,432 |
| 17 | $450.00 | $378.65 | $71.35 | $100.00 | $11,853 | $1,503 |
| 18 | $450.00 | $380.86 | $69.14 | $100.00 | $11,472 | $1,572 |
| 19 | $450.00 | $383.08 | $66.92 | $100.00 | $11,089 | $1,639 |
| 20 | $450.00 | $385.31 | $64.69 | $100.00 | $10,704 | $1,704 |
| 21 | $450.00 | $387.56 | $62.44 | $100.00 | $10,316 | $1,766 |
| 22 | $450.00 | $389.82 | $60.18 | $100.00 | $9,927 | $1,827 |
| 23 | $450.00 | $392.10 | $57.90 | $100.00 | $9,534 | $1,884 |
| 24 | $450.00 | $394.38 | $55.62 | $100.00 | $9,140 | $1,940 |
| 25 | $450.00 | $396.68 | $53.32 | $100.00 | $8,743 | $1,993 |
| 26 | $450.00 | $399.00 | $51.00 | $100.00 | $8,344 | $2,044 |
| 27 | $450.00 | $401.32 | $48.68 | $100.00 | $7,943 | $2,093 |
| 28 | $450.00 | $403.67 | $46.33 | $100.00 | $7,539 | $2,139 |
| 29 | $450.00 | $406.02 | $43.98 | $100.00 | $7,133 | $2,183 |
| 30 | $450.00 | $408.39 | $41.61 | $100.00 | $6,725 | $2,225 |
| 31 | $450.00 | $410.77 | $39.23 | $100.00 | $6,314 | $2,264 |
| 32 | $450.00 | $413.17 | $36.83 | $100.00 | $5,901 | $2,301 |
| 33 | $450.00 | $415.58 | $34.42 | $100.00 | $5,485 | $2,335 |
| 34 | $450.00 | $418.00 | $32.00 | $100.00 | $5,067 | $2,367 |
| 35 | $450.00 | $420.44 | $29.56 | $100.00 | $4,647 | $2,397 |
| 36 | $450.00 | $422.89 | $27.11 | $100.00 | $4,224 | $2,424 |
| 37 | $450.00 | $425.36 | $24.64 | $100.00 | $3,799 | $2,449 |
| 38 | $450.00 | $427.84 | $22.16 | $100.00 | $3,371 | $2,471 |
| 39 | $450.00 | $430.34 | $19.66 | $100.00 | $2,941 | $2,491 |
| 40 | $450.00 | $432.85 | $17.15 | $100.00 | $2,508 | $2,508 |
| 41 | $450.00 | $435.37 | $14.63 | $100.00 | $2,072 | $2,522 |
| 42 | $450.00 | $437.91 | $12.09 | $100.00 | $1,634 | $2,534 |
| 43 | $450.00 | $440.47 | $9.53 | $100.00 | $1,194 | $2,544 |
| 44 | $450.00 | $443.04 | $6.96 | $100.00 | $751 | $2,551 |
| 45 | $450.00 | $445.62 | $4.38 | $100.00 | $305 | $2,555 |
| 46 | $307.11 | $305.33 | $1.78 | — | $0 | $2,557 |
About This Analysis
This calculator provides estimates based on the inputs you supply. It assumes standard amortization and does not account for taxes, insurance, PMI, prepayment penalties, or the opportunity cost of funds. Results are for informational and educational purposes only and should not be considered financial advice. Consult a qualified professional before making financial decisions.
- ·Assumes extra payments are applied to principal each month.
- ·Does not account for prepayment penalties, which some loans may include.
- ·Actual payoff dates depend on payment timing and lender processing.
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Also Consider
Quick Reference
- Closing Cost BreakdownTypical fees and who pays what
- PMI Thresholds & RatesWhen PMI applies, typical rates, removal rules
- Conforming Loan Limits2025 limits by county (FHA, conventional, jumbo)
- Current Mortgage Rates30-year, 15-year, ARM averages by credit score
- Mortgage Tax DeductionsWhat's deductible, limits, phase-outs
- Property Tax Rates by StateAverage effective rates and exemptions
Insights
7 calculators · 6 reference pages