LowerRateSM Mortgage Prepayment Calculator

Our Prepayment Refinance Calculator (PreFiSM) allows you to plug in a dollar amount, and tells you what equivalent-to-refinancing interest rate that prepayment will achieve.This LowerRate prepayment calculator does the reverse: You tell us the interest rate you would like to PreFi at, and we'll tell you the prepayment amount you'll need to hit that figure -- whether by regular monthly prepayments or a one-time, lump-sum prepayment.

You can run the calculation to produce the dollar amount for different terms, too, including the remaining term of your mortgage or a shorter period, so you can play "what if?" as often as you like. For example, you have 23 years remaining on your loan but want to make payments equivalent to those for a 20-year term at 3.5%, plug those figures in, press the button, and we'll tell you what you'll need to pay in order to have the same interest cost as a refinance to those terms... all without the hassle or expense of actually refinancing.

Although you can achieve savings by PreFi-ing your loan, refinancing might actually be a better option. If you can refinance, more choices can become available to you, including lengthening the term and lowering the rate to improve cash flow. To help determine if you should you do a traditional refinance, you can check today's mortgage rates and use our Tri-Refinance calculator to find out!

LowerRate Mortgage Prepayment Calculator

L O A D I N G
1 Interest details

Please enter interest rate

2 Loan details

Please enter loan amount

Please enter loan term

Prepayment date cannot be prior to inital loan date


OR

Please insert current loan balance

Please enter principal and interest payment

3 Calculate prepayment for

Please enter interest rate

As of -
You paid
/ - months
Already interest paid
/ - on your loan
Without Prepayment
Loan payoff duration
- months (- years)
Total interest payable
-
With Prepayment
New term will be
- months (- years)
With interest rate
-
Interest payable
-
Want to refinance?
Monthly prepayment needed
- / months
Or one time prepayment needed
-
Will get the equivalent interest cost of a - refinance over a term of - years

Find out how much prepayment you would need to shorten the term of your loan

  1. Input the same interest rates for both the Current Interest Rate and Desired Interest Rate
  2. Choose your desired term from the dropdown
  3. Click the "Find my prepayment?" button The first entry in the table below will be the prepayment needed to achieve that term!
RateTotal interestMonthly prepaymentUpfront prepayment
4.000%$ 36,939.33$ 5.42$ 563.15
4.000%$ 36,939.33$ 5.42$ 563.15
4.000%$ 36,939.33$ 5.42$ 563.15
4.000%$ 36,939.33$ 5.42$ 563.15
4.000%$ 36,939.33$ 5.42$ 563.15
4.000%$ 36,939.33$ 5.42$ 563.15
4.000%$ 36,939.33$ 5.42$ 563.15
4.000%$ 36,939.33$ 5.42$ 563.15
4.000%$ 36,939.33$ 5.42$ 563.15
4.000%$ 36,939.33$ 5.42$ 563.15
4.000%$ 36,939.33$ 5.42$ 563.15
4.000%$ 36,939.33$ 5.42$ 563.15