Loan Prepayment Penalty Calculator
Enter your balance and penalty rate to estimate the early payoff cost.
Result
How to use
- Enter your values in the fields above.
- Press Calculate to see your result instantly.
- Use the Share button to copy a link to your result.
About this calculator
The loan prepayment penalty calculator estimates the fee a lender charges for paying off a loan before its scheduled term, most commonly structured as a flat percentage of the outstanding principal balance at the time of payoff (for example, 2% of the remaining balance), though some loans instead charge a set number of months of interest.
Lenders add prepayment penalties to recoup the interest income they lose when a loan is closed early, and they show up most often on mortgages, auto loans, and some personal or commercial loans, usually only within the first few years of the term. Borrowers refinancing a mortgage, selling a financed car early, or considering an early loan payoff use this calculator to check whether the penalty erases the interest savings from paying early — the loan agreement or amortization schedule shows the exact penalty terms and any expiration date.
Was this helpful?
Popular calculators
Loan Calculator
Monthly payment, total interest and full amortization schedule.
Percentage Calculator
Percent change, percent of, and ratio calculations.
Discount Calculator
Calculate final price, savings, and discount amount.
BMI Calculator
Body mass index from height and weight (metric or imperial).
Age Calculator
Compute your exact age in years, months and days from a birth date.
Compound Interest Calculator
Calculate the final amount and interest earned with compounding.
All Calculators
No calculators found
Comments (0)