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Prepayment calculator [Explained]

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UPDATED - Take your current balance and look at your loan reduction. Does biweekly mortgages too. This calculator allows you to see how prepaying your mortgage reduces the length of your mortgage by putting in the current values for your loan.

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Prepayment calculator

Change these fields as desired:

Choose the Option:
A1. Current Principal Balance (if known)
A2. Current Prin+Int Monthly Payment
B1. Original Principal Balance (otherwise)
B2. Month of First Payment (otherwise) -
B3. Length of Mortgage (Years)
You fill out the following table for both cases:
Current Annual Interest Rate
Additional Monthly Pre-Payment*
Increase Monthly Payment each year by (%)

* = Enter B here to do a biweekly conversion from here.

Prepayment calculator