Calculate the impact of extra payments on your loan. See how much you can save in interest and time by making additional payments.
Enter your loan information and click calculate to see results
Compare your loan interest rate to expected investment returns. If your loan rate is higher, extra payments usually make more sense.
The earlier you make extra payments, the greater the impact. Extra payments in the first few years save the most interest.
Most loans allow extra payments without penalty, but check your loan agreement. Some loans may have prepayment penalties.