Calculate your loan payments and view detailed amortization schedule
| Payment # | Date | Payment | Principal | Interest | Extra Payment | Total Payment | Remaining Balance |
|---|
Early payments are mostly interest. It takes years before you start paying down significant principal.
Extra payments early in the loan term save the most interest over time.
Even 0.25% difference in interest rate can save thousands over the loan term.
Make half-payments every two weeks instead of monthly. Results in one extra payment per year.
Round up your payment to the nearest $100. Small increases add up significantly over time.
Calculate when interest savings exceed refinancing costs. Typically 2-3 years.
Consider refinancing if you can reduce your rate by 0.75% or more.