Mortgage Payoff Calculator
Extra principal payments reduce the balance faster, which lowers future interest charges and can shorten the loan by years. This calculator shows how...
Enter values and click Calculate.
Schedule
Introduction
Extra principal payments reduce the balance faster, which lowers future interest charges and can shorten the loan by years. This calculator shows how lump-sum, monthly, yearly, or one-time extras change your payoff date and total interest.
Paying Off Your Mortgage Early
Extra principal payments reduce the balance faster, which lowers future interest charges and can shorten the loan by years. This calculator shows how lump-sum, monthly, yearly, or one-time extras change your payoff date and total interest.
Pay Extra on Principal
Specify that additional amounts go to principal, not escrow or fees. Even $100 per month on a 30-year mortgage can save tens of thousands in interest depending on rate and balance.
Biweekly Payments
Paying half your monthly payment every two weeks results in 26 half-payments per year—equivalent to 13 full monthly payments. That extra payment accelerates payoff without a large budget jump.
Opportunity Cost
Compare mortgage rate to after-tax investment returns and emergency fund needs. Paying off a 3% mortgage may not beat long-term diversified investing, but eliminating a 7% loan is often compelling.
Related Tools
Mortgage Calculator, Refinance Calculator, Home Equity Loan Calculator.
How It Works
- Enter your amounts, rates, and term in the form. Use the same units shown in the labels (dollars, years, percent).
- Click Calculate to run the Mortgage Payoff Calculator engine. Invalid or empty required fields show a clear error message.
- Review the summary cards for the key outputs. Expand schedules or tables when available for period-by-period detail.
- Copy, print, or share your scenario link. Reset the form anytime to start a fresh comparison.