Loan Payoff Calculator
Calculate how to pay off debt faster with avalanche vs snowball strategies.
About this tool
Enter your loan balances, interest rates, and minimum payments to see exactly when you'll be debt-free. Add extra monthly payments to see how much time and interest you'll save. Compare the debt avalanche (highest rate first) vs debt snowball (lowest balance first) strategies with an interactive SVG balance chart.
How to use
- 1 Add your debts by entering the balance, interest rate, and minimum payment.
- 2 Optionally enter an extra monthly payment amount.
- 3 Click Calculate to see payoff timelines for both strategies.
- 4 Compare total interest paid and months to debt-free for avalanche vs snowball.
- 5 View the SVG balance chart to visualize progress over time.
Frequently Asked Questions
Calculate monthly payment, total interest, and full amortization schedule.
Calculate monthly payments and see a full amortization schedule with principal vs. interest breakdown.
Calculate compound interest growth with monthly contributions — see your investment grow over time with a chart.
Calculate your monthly mortgage payment with taxes, insurance, PMI, and amortization.