Calculate Your Loan Payoff
See how extra payments accelerate your debt-free date
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Loan Payoff FAQ
Should I make extra payments?
Extra payments go directly to principal, reducing interest over the life of the loan. Even small amounts add up significantly.
Is there a prepayment penalty?
Check your loan agreement. Most personal and auto loans don't have prepayment penalties, but some mortgages might.
Based on Federal Reserve and Consumer Financial Protection Bureau data 2026