Mortgage early payoff

The question behind this one was our own house: could we pay it off early, would it actually save money, and - once inflation is taken honestly into account - is it even worth doing? Every extra dollar toward principal skips ahead of years of scheduled interest, which is why small prepayments can shave years off a loan. But the savings a calculator advertises are nominal, and most of those avoided payments sit decades out, where inflation has quietly eroded what they're worth.

This calculator amortizes your actual loan - fixed rate or ARM - with recurring extra payments and one-time lump sums, then compares the result against the contractual schedule. It reports months saved, interest saved in nominal dollars, and the same savings deflated to today's purchasing power, alongside home equity as the property appreciates. Use it to weigh prepaying against investing the extra elsewhere.