Prepayment Calculator
Prepaying on your home mortgage can greatly reduce the loan term. To find out how quickly a few extra dollars a month can add up, enter your current principal balance and total monthly payment below.
 
Current mortgage balance $
Remaining term on your current mortgage years, months
Current interest rate %
Extra payments amount $
Results options
 

 

The Financial Calculators' calculated values are purely estimates and are not representative of actual payment amounts. The accuracy of the results is not guaranteed. Differences between these results and results provided by your financial institutions are probably due to rounding or slight differences in the mathematical formulas and/or assumptions used.