Loan payoff calculator
See what interest may cost—and what an extra payment may change.
Use your current loan balance, interest rate, and required monthly payment to create an estimate. Nothing you enter is saved.
Before paying extra
Three helpful checks
- Ask how extra money is applied.Tell the lender you want it applied to principal, and check the next statement.
- Check for special loan rules.Review your agreement for prepayment penalties or precomputed interest.
- Protect essentials first.An extra loan payment should not leave you short for housing, food, medicine, utilities, or a small emergency cushion.