Loan Parameters
Comparison Results
| Item | Original Plan | After Prepayment | Savings |
|---|---|---|---|
| Monthly Payment | $0 | $0 | $0 |
| Total Interest | $0 | $0 | $0 |
| Remaining Term | 30 years | 30 years | 0 years |
Calculate interest saved and years shortened by prepaying your mortgage/loan with lump-sum paymentand extra monthly payments
Prepaying loans significantly reduces total interest. Compare original vs post-prepayment: enter loan amount, rate, term, and prepayment to see savings.
MortgageInterest SavingsFinancial Planning| Item | Original Plan | After Prepayment | Savings |
|---|---|---|---|
| Monthly Payment | $0 | $0 | $0 |
| Total Interest | $0 | $0 | $0 |
| Remaining Term | 30 years | 30 years | 0 years |
This tool defaults to shorten-term mode (same payment, shorter term) — the most interest-saving approach.
Shortening the term saves more than reducing payment. Prioritize term reduction.
Some banks charge 1-3% penalties. Consult your bank. This calculates interest savings only.