Free calculator
Early Payoff Calculator
Small extra principal payments compound dramatically over the life of a loan. This calculator shows your new payoff date and the total interest you'd skip by paying a little more each month.
Tell your lender to apply it to principal. Some servicers default extra payments to the next month's installment, which doesn't reduce interest. The instruction should be in writing or set via the autopay form.
New payoff
40 mo
Months saved
20 mo
Interest saved
$1,815
Scheduled payment
$387
Accelerated payment
$537
Original interest
$5,213
This calculator provides general loan projections only and is not individualized financial advice or a loan offer. Confirm actual APR, fees, and terms with your lender before borrowing.