https://github.com/suharshtyagii/loan-prepayment-simulator
Lets you simulate prepayments for your loan.
https://github.com/suharshtyagii/loan-prepayment-simulator
calculator carloans homeloan homeloans loan multicurrency prepayment
Last synced: 4 months ago
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Lets you simulate prepayments for your loan.
- Host: GitHub
- URL: https://github.com/suharshtyagii/loan-prepayment-simulator
- Owner: SuharshTyagii
- Created: 2025-05-09T11:11:15.000Z (5 months ago)
- Default Branch: master
- Last Pushed: 2025-05-12T06:12:08.000Z (5 months ago)
- Last Synced: 2025-06-08T00:08:10.363Z (4 months ago)
- Topics: calculator, carloans, homeloan, homeloans, loan, multicurrency, prepayment
- Language: JavaScript
- Homepage: https://suharshtyagii.github.io/Loan-Prepayment-Simulator/
- Size: 11.3 MB
- Stars: 9
- Watchers: 1
- Forks: 0
- Open Issues: 2
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Metadata Files:
- Readme: README.md
Awesome Lists containing this project
README
# 🏦 Loan Prepayment Simulator
**Live Demo**: [https://suharshtyagii.github.io/Loan-Prepayment-Simulator/](https://suharshtyagii.github.io/Loan-Prepayment-Simulator/)
A powerful, interactive tool to visualize how prepayments can transform your loan journey and save significant interest costs over time.
## ✨ Features
- **Interactive Calculator**: See how changes to loan parameters affect your payoff timeline in real-time
- **Prepayment Analysis**: Visualize the impact of one-time and recurring prepayments
- **Multiple Payment Frequencies**: Simulate weekly, biweekly, monthly, semi-annual, and yearly payment schedules
- **Visual Amortization**: Interactive graph showing your loan balance reduction journey
- **Detailed Data**: Complete amortization schedule with period-by-period breakdown
- **Export Capability**: Download detailed amortization tables as CSV for further analysis
- **Multi-currency Support**: 30+ currencies with localized formatting
- **Responsive Design**: Seamless experience on desktop, tablet, and mobile devices
- **Dark/Light Mode**: Choose your preferred visual theme for comfort
## 🚀 Why Use This Tool?
Understanding how prepayments affect your loan can lead to significant savings. This simulator helps you:
- Visualize how years can be shaved off your loan term with strategic prepayments
- Calculate exact interest savings from different prepayment strategies
- Plan your financial future with interactive "what-if" scenarios
- Make informed decisions about where to allocate extra funds
## 📊 How It Works
The simulator uses standard amortization formulas to calculate how your loan balance changes over time. Key inputs include:
1. **Original loan amount**: The principal you initially borrowed
2. **Remaining principal**: Current outstanding balance
3. **Monthly EMI**: Your regular payment amount
4. **Interest rate**: Annual percentage rate
5. **Extra payments**: Both one-time lump sums and recurring additional payments
As you adjust these parameters, the calculator instantly updates the amortization schedule and visualization to show your new payoff trajectory.
## 🛠️ Technologies Used
- **React**: For building the interactive UI components
- **Recharts**: For data visualization
- **Tailwind CSS**: For responsive styling and dark/light mode
- **Lucide Icons**: For beautiful, consistent iconography
## 🧮 Mathematical Foundation
The simulator calculates loan amortization using the standard formula:
For each payment period:
1. Calculate interest: `Interest = Outstanding Balance × (Annual Rate ÷ Periods Per Year)`
2. Calculate principal payment: `Principal = Regular Payment + Extra Payment - Interest`
3. Update balance: `New Balance = Previous Balance - Principal Payment`
## 🔍 Use Cases
- **Home Mortgage Analysis**: See how additional payments can reduce your 30-year mortgage
- **Student Loan Planning**: Develop a strategy to eliminate student debt faster
- **Auto Loan Optimization**: Determine if making extra payments on your car loan makes financial sense
- **Personal Loan Management**: Visualize the quickest path to debt freedom
## 🤝 Contributing
Contributions are welcome! Please feel free to submit a Pull Request.
1. Fork the repository
2. Create your feature branch (`git checkout -b feature/amazing-feature`)
3. Commit your changes (`git commit -m 'Add some amazing feature'`)
4. Push to the branch (`git push origin feature/amazing-feature`)
5. Open a Pull Request
## 📝 License
This project is licensed under the MIT License - see the LICENSE file for details.
## 👨💻 Author
Created by Suharsh Tyagi
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Made with ❤️ for everyone striving for financial freedom through informed decision-making.