Loan Early Payoff Penalty Calculator
Calculate the estimated early payoff amount with loan type, remaining maturity, remaining principal, and fees.
Formula
Mortgage loan penalty rate: 1% if remaining maturity ≤ 36 months, 2% if > 36 months. Payoff = principal + penalty + fee - refund.
Source / method note
For mortgage loans, if the remaining maturity is 36 months or less, a 1% penalty cap is assumed, and 2% for longer maturities. For other loan types, the penalty rate can be entered manually.
Legal / official rate note
This tool is for estimated informational purposes. For the exact early closure amount, the bank's official payment plan, closure letter, and contract conditions should be based on.
