Mortgage Prepayment Calculator

Consistently prepaying on your mortgage is the best way to save money on financing, hands down. Find out how much you can save with our mortgage prepayment calculator.

Looking for something different? We've probably got you covered. Use our quick mortgage calculator guide to find the right tool for you.

One warning: in order to really benefit from prepaying, your mortgage can't have any prepayment penalties. These fees, common on bad credit loans and even on some prime loans, can make a big dent in your savings

How to use the mortgage prepayment calculator

This one is pretty simple. You enter your remaining loan balance, the loan's interest rate, your current monthly payment, and the extra monthly amount you intend to pay.

The mortgage prepayment calculator tells you not only how much you save in total financing costs, but how much sooner you'll have the loan paid off, too.

Try the mortgage prepayment calculator now.

More mortgage payment calculator tips

This mortgage payment calculator is intended for estimation purposes. Don't budget too tightly, and be sure and leave some wiggle room on loan amount and interest rate, especially if you haven't already been approved.

Consider applying for preapproval before you plan to closely. That way you can nail down an interest rate and use the mortgage payment calculator to design your loan around it.

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