Mortgage Prepayment Calculator
Compare lower-payment and shorter-term mortgage prepayment options with the original loan details, paid months, and prepayment amount.
Enter the original mortgage details, paid months, and prepayment amount to compare how monthly payment, total interest, and remaining term change after a prepayment.
Supports the two common choices: lower the monthly payment while keeping the term, or keep the payment and shorten the term.
Was this tool helpful?
Your feedback helps us decide which tools to improve first.
If you can, tell us the main reason:
Common use cases
- Use this page when you receive a bonus, sale proceeds, or other spare cash and want to see whether prepaying part of a mortgage is financially worthwhile.
- It is useful when comparing the two common strategies: lowering the monthly payment or shortening the remaining term.
- Before talking to the bank, this page helps you estimate whether you care more about easing monthly cash flow or saving more total interest.