Bankability Loan Calculator™
Explore loan payments that fit your life. See the interest you could save, choose when extra payments begin, and take your full schedule with you.
Make the numbers work for you.
Estimated interest saved
—Annualized return based on the timing of extra payments and future payments avoided.
Your path to payoff
Compare the full picture
| Loan outcome | Original loan | With extra payments |
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Find the extra payment to get there.
Keeps your selected extra-payment start, stop and one-time payment.
Take your loan analysis with you.
Analysis and complete amortization schedules.
Amortization schedule
Every payment, from the first to the last.
| # | Date | Payment | Extra* | Principal | Interest | Balance |
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*Extra includes recurring and one-time principal, already included in Payment.
How the calculations work
Fixed-rate, fully amortizing loans with equal payment periods. Interest per period is the annual nominal interest rate divided by payments per year. Payments and interest are rounded to cents each period. Extra principal is applied after the regular payment on the selected due date, without recasting the regular payment.
The last payment is adjusted to clear the balance and accrued interest. Monthly dates keep the first payment’s day where possible and use the last day in shorter months. Taxes, insurance, fees, penalties, variable rates and daily interest conventions are excluded. Lender schedules may differ.
Annual ROI is the internal rate of return of original payments minus payments with extra principal, converted to an effective annual rate: (1 + periodic IRR)payments per year − 1. It includes the timing of cash outlays and future payments avoided, before taxes, fees or prepayment penalties. For an existing loan, completed payments are unchanged in both schedules. Total interest and total cost include prior and future payments. About periodic IRR. A payoff goal finds the smallest recurring extra amount, to the nearest cent, that meets the selected payment deadline under these assumptions.