House Loan Early Payoff Calculator
House loan early payoff calculator works out Payment and Total interest from Current loan balance, Annual interest rate and Loan term. The default figures on this page give interest saved by extra payments of 97,618.44; change any entry and the result, the working and the sources update together.
Your figures
Updates as you typeHow this is worked out
5 steps
- Scheduled payment on 250000 at 6.5% is 1580.17.
- Adding 200 of principal each period changes the payoff.
- Without extras: 360 payments and 318861.58 interest.
- With extras: 265 payments and 221243.14 interest.
- That saves 97618.44 and 95 payments (7.917 years).
Yearly summarytable
| year | interest | principal | endingBalance |
|---|---|---|---|
| 1 | 16,094.92 | 5,267.12 | 244,732.88 |
| 2 | 15,742.17 | 5,619.87 | 239,113.01 |
| 3 | 15,365.81 | 5,996.23 | 233,116.78 |
| 4 | 14,964.21 | 6,397.83 | 226,718.95 |
| 5 | 14,535.75 | 6,826.29 | 219,892.66 |
| 6 | 14,078.59 | 7,283.45 | 212,609.21 |
| 7 | 13,590.78 | 7,771.26 | 204,837.95 |
| 8 | 13,070.33 | 8,291.71 | 196,546.24 |
| 9 | 12,515.03 | 8,847.01 | 187,699.23 |
| 10 | 11,922.52 | 9,439.52 | 178,259.71 |
| 11 | 11,290.33 | 10,071.71 | 168,188 |
| 12 | 10,615.83 | 10,746.21 | 157,441.79 |
| 13 | 9,896.13 | 11,465.91 | 145,975.88 |
| 14 | 9,128.22 | 12,233.82 | 133,742.06 |
| 15 | 8,308.93 | 13,053.11 | 120,688.95 |
| 16 | 7,434.72 | 13,927.32 | 106,761.63 |
| 17 | 6,501.98 | 14,860.06 | 91,901.57 |
| 18 | 5,506.77 | 15,855.27 | 76,046.3 |
| 19 | 4,444.92 | 16,917.12 | 59,129.18 |
| 20 | 3,311.93 | 18,050.11 | 41,079.07 |
| 21 | 2,103.1 | 19,258.94 | 21,820.13 |
| 22 | 813.28 | 20,548.76 | 1,271.37 |
| 23 | 6.89 | 1,271.37 | 0 |
Its 6 worked examples are re-run on every release, last on 15 September 2026. What changed
Sources and references
2 sources
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Save it, change one figure, then compare the two
The calculation stays free. Save this scenario, adjust one assumption, save that too, and put them side by side to see exactly what the change costs you. A free account keeps 5 scenarios and 2 comparisons; Personal makes both unlimited and adds exports and private links. Nothing is saved unless you press Save.
What the house loan early payoff calculator calculates
Compares a loan with and without extra principal payments, showing the interest saved and the time cut from the term.
How to use this house loan early payoff calculator
Enter Current loan balance, Annual interest rate, Loan term and Term - additional months. Payment updates as you type, and “Use a worked example” loads checked figures you can adjust. Change one figure at a time to see what drives the result.
How the result is worked out
Open “How this is worked out” beside the result for the step-by-step calculation behind Payment, Total interest and Total of payments.
The method follows Standard annuity-immediate payment formula, PMT = P i / (1 - (1+i)^-n) and 12 CFR Part 1026 (Regulation Z), Appendix J - Annual Percentage Rate Computations.
200 extra on 300k at 5% for 30 years example
With Current loan balance: 300000, Annual interest rate: 5, Loan term: 30, Extra principal each period: 200, the calculator returns Number of payments: 283, Payments without extra payments: 360. This example is checked against an independent source in the test suite.
What you can compare
Change one input at a time to see how it affects Payment, Total interest and Total of payments. The inputs you can vary are Current loan balance, Annual interest rate, Loan term, Term - additional months, Payment frequency and Extra principal each period.
Results are general information, not financial, tax, legal, medical or engineering advice. Check any decision that matters with a qualified professional.
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Frequently asked questions
How to pay off a house 7 years early?
Compares a loan with and without extra principal payments, showing the interest saved and the time cut from the term. Open “How this is worked out” beside the result to see each step for your own figures.
What happens if I pay an extra $200 a month on my 30 year mortgage?
Compares a loan with and without extra principal payments, showing the interest saved and the time cut from the term. On this page it is computed from Current loan balance, Annual interest rate and Loan term and shown as Payment, Total interest and Total of payments.
How do I calculate paying off my mortgage early?
It needs Current loan balance, Annual interest rate, Loan term, Term - additional months, Payment frequency and Extra principal each period. Nothing else is required, and the figures stay in your browser.
Is it good to pay off a house loan early?
Compares a loan with and without extra principal payments, showing the interest saved and the time cut from the term. On the figures this page opens with — current loan balance 300,000, annual interest rate 5% and loan term 30 years — the interest saved by extra payments is 97,618.44. Put your own figures in their place and the working updates beside the result.
What information do I need for the house loan early payoff calculator?
You need Current loan balance, Annual interest rate, Loan term, Term - additional months, Payment frequency, Extra principal each period, One-off lump sum and Applied at payment number. The page opens with default figures that give interest saved by extra payments of 97,618.44, so you can see the scale before entering your own.
What does this house loan early payoff calculator show?
It shows Payment, Total interest, Total of payments, Number of payments, Payoff time, Rate per period, Interest per unit borrowed and Interest saved by extra payments, with the working and any warnings for your entries.