Compare a loan’s payoff time and interest before and after adding extra monthly principal.
Keep a record of the assumptions behind the result and compare nearby scenarios before making a decision.
Simulate the balance month by month for the scheduled payment and the payment plus extra principal.
This result reflects only the values and assumptions shown above. It does not automatically include taxes, fees, market changes, local rules, or personal circumstances unless those inputs are explicitly present.
These are demonstration assumptions, not market data or a recommendation. Use Reset example above to reproduce this result, then replace the values for your own scenario.
Example result: 25 months
The example is fixed while your live result above changes. Differences in display rounding do not change the underlying calculation.
Replace the examples with your real values. Results update instantly as inputs change.
Try conservative, baseline, and optimistic inputs to see whether the conclusion holds.
Review the formula and limitations, then verify important decisions with authoritative sources.
Simulate the balance month by month for the scheduled payment and the payment plus extra principal.
Prepayment penalties, servicing rules, fees, and rate changes are not included.
No. This calculation runs locally in your browser and the values you enter are not sent to a CalcMintly database.