Extra Payment Payoff
Extra Payment Payoff
Model payoff time with a recurring extra payment; fees and prepayment rules are excluded.
How it works
Model payoff time with a recurring extra payment; fees and prepayment rules are excluded.
Using this calculator
Enter current principal, annual nominal rate (%), regular monthly payment, extra each month. apply monthly interest, then the payment, until balance reaches zero.
What to keep in mind
Uses the amounts and rates you enter. No live prices, tax rules, lender fees or individualized financial advice are included. Keep currency and accounting periods consistent.
Sources & further reading
CFPB · Understanding amortization ↗Frequently asked questions
Are my entries saved?
No. Calculator inputs remain in the current page and are cleared when you reload or leave. The tools do not upload your entries.
Why are results rounded?
The display is rounded for readability. Calculations use unrounded intermediate values. An estimate should not be interpreted as an exact measurement.