Mortgage Early Payoff Calculator
Calculate Years Shaved & Total Interest SavedPayoff Freedom Acceleration
Total Interest Saved
+$84,520
Payoff 7.4 Years Early!
Standard Monthly Payment:$1,686.80
New Accelerated Monthly:$1,886.80
Original Remaining Term:25.0 Years (300 mos)
New Payoff Term:17.6 Years (211 mos)
Frequently Asked Questions
On a standard $300,000, 30-year mortgage at 6.5% interest, an extra payment of just $200/month can shave over 6.5 years off your loan and save more than $90,000 in interest!
Yes! When you specify "principal-only prepayment" to your lender, 100% of the extra money goes directly toward reducing the loan balance, which permanently decreases future interest charges.