Prepayment Penalty Calculator
See how much a prepayment penalty would cost if you pay off your loan early. Enter remaining balance, penalty terms (e.g. 6 months interest or 2%), and compare to interest saved.
Calculate your payment
Enter values to calculate.
How it works
We compute the penalty (e.g. percentage of balance or months of interest) and compare to interest you would save by paying off early.
When to use it
Use when deciding whether to pay off a loan early or refinance despite a penalty.
Frequently asked questions
Are prepayment penalties legal?
They are allowed in many states with specific disclosures. Check your loan documents and state law.