Calculate a loan payment, total interest, payoff time, and the effect of extra monthly principal.
Change the inputs that matter to your decision. Optional assumptions stay collapsed until you need them.
Start with the amount, APR, and planned term.
Compare the cost of paying principal down faster.
This estimate assumes a $25,000.00 loan at 7.5% APR over 5 years. Your scheduled payment is the principal-and-interest amount before any escrow, fees, or lender-specific charges.
Open Payoff options and add an amount only if you want to trade monthly cash flow for a shorter schedule.
Estimate excludes origination fees, taxes, insurance, late fees, and lender-specific payment rules.
Practical notes about the inputs, assumptions, and result.
In this estimate, extra monthly money is applied to principal, so it reduces the balance that can accrue interest. Your lender's payment allocation and prepayment terms control the real outcome.
It shows how each payment is split between interest and principal and how the remaining balance changes over time.
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