Mortgage Payoff Calculator
See how extra monthly or yearly payments shorten a mortgage and reduce total interest.
Runs 100% in your browser — nothing is uploaded.
Result
Formula
Extra principal each month avoids interest on that principal for all remaining months.
About this calculator
The Mortgage Payoff Calculator shows how adding extra monthly or yearly payments to your regular mortgage payment can shorten the time until you own your home free and clear, and how much interest you can save over the life of the loan.
How to use
- 1
Enter your current loan balance, annual interest rate, and remaining term in years.
- 2
Optionally, add an extra monthly payment and/or an extra yearly payment.
- 3
Click Calculate to see your new payoff time and total interest saved.
Frequently asked questions
Is paying off early always best?
Often, but compare your mortgage rate with what the money could earn elsewhere — and keep an emergency fund.
Please note: Results are estimates for general information only and are not professional or medical/financial advice.