Payment & Payoff Strategies
Explore how different repayment durations affect your monthly payment, total interest, and overall borrowing cost.
Loan Information
Enter your loan details and choose the repayment duration you want to explore.
Selected Strategy
Based on your inputsRepayment Comparison
1–40 year comparison01 Understanding the Results
Shorter repayment periods generally increase the monthly payment but reduce the amount of interest paid over the life of the loan.
Longer repayment periods generally reduce the monthly payment but increase the total cost of borrowing.
Use the comparison above to see the trade-off between monthly affordability and total borrowing cost.
Lower Payment
Longer durations can make monthly payments easier to manage, but typically increase total interest.
Lower Interest
Shorter durations typically reduce the total interest paid over the life of the loan.
Find Your Balance
Consider the payment you can comfortably afford while keeping borrowing costs under control.