U.S. Mortgage Rate Trend (2020–2026)
Data as of January 17, 2026. Source: Freddie Mac
This early payoff mortgage calculator shows your total interest savings when you repay your home loan ahead of schedule. Supports both equal principal (declining payments) and equal principal & interest (fixed payment) — most calculators only do one!
This free tool helps U.S. homeowners estimate how much interest they can save by paying off their mortgage early.
It compares two repayment approaches: equal principal (declining monthly payments) and equal principal & interest (fixed monthly payment)—the standard for most U.S. mortgages.
Use it to see the true cost difference and plan your payoff strategy.
1. Early repayment: Select how many years early you’d like to pay off your loan. For example, choosing “5 years” on a 30-year mortgage means you’ll repay it in 25 years. Select “0 year” if you’re not making early payments.
2. Loan term: Choose your original loan term (most U.S. mortgages are 15, 20, or 30 years).
3. Total loan amount: Enter the total loan amount in thousands of dollars. For a $450,000 loan, enter 450.
4. Annual interest rate: Select a current average rate or choose “Custom” to enter your exact rate as a decimal (e.g., 0.065 for 6.5%).
5. Results: After clicking “Query,” you’ll see monthly payments, total interest, and savings under both repayment methods.
This is the standard U.S. mortgage structure. You pay a fixed amount each month. Early payments are mostly interest; over time, more goes toward principal. Total interest paid is higher than with equal principal.
You repay the same amount of principal each month, plus interest on the remaining balance. Monthly payments decline over time, and total interest is lower—but initial payments are higher. Few U.S. lenders offer this, but it’s useful for comparison.
In the U.S., the average 30-year fixed mortgage rate in January 2026 is 6.18% (Freddie Mac). If you have a $400,000 loan at this rate, your total interest over 30 years would be about $478,000.
But if you pay it off just 5 years early using equal principal and interest repayment, you could save approximately $92,000 in interest. Pay it off 10 years early, and savings jump to over $165,000.
However, the repayment method matters. With equal principal, you’d save even more—but your initial monthly payments would be higher. This calculator lets you compare both scenarios side by side, so you can choose the strategy that fits your budget.
It’s the standard U.S. mortgage: your monthly payment stays the same for the life of the loan.
You pay the same principal amount each month. Your total payment decreases over time because interest is charged only on the remaining balance.
It depends on your loan size, rate, and how early you pay. This calculator shows your exact interest savings.
No. This calculator covers principal and interest only—the core components of your loan.
Yes. Just enter your actual interest rate and term.
No. Most U.S. fixed-rate mortgages don’t have them, but check your loan agreement to be sure.
Early Payoff Mortgage Calculator is a free, browser-based tool for U.S. homeowners to estimate interest savings from early mortgage repayment. All calculations run locally in your browser — we do not collect or store your loan data.
Data sources: Freddie Mac Primary Mortgage Market Survey® (rates as of January 2026).
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