Mortgage Payoff Calculator
Published On: 20/02/2026
Mortgage Payoff Calculator
Calculate how fast you can pay off your mortgage and how much interest you could save by making extra payments. Enter your loan details, choose whether extra payments are monthly or yearly, and the calculator will estimate your payoff time and totals.
Inputs explained:
• Loan balance: current remaining principal on your mortgage.
• Interest rate: annual rate (APR).
• Monthly payment: your base monthly payment (principal + interest).
• Extra payment: additional amount you pay on top of the base payment.
• Extra frequency: add extra monthly or once per year (lump sum).
(Taxes/insurance are not included unless you add them into the payment manually.)
• Loan balance: current remaining principal on your mortgage.
• Interest rate: annual rate (APR).
• Monthly payment: your base monthly payment (principal + interest).
• Extra payment: additional amount you pay on top of the base payment.
• Extra frequency: add extra monthly or once per year (lump sum).
(Taxes/insurance are not included unless you add them into the payment manually.)
Use 1 to start immediately; use 13 to start after 1 year, etc.
Tip: For a precise payoff schedule, lenders may apply rules about extra payments and rounding. This calculator provides an estimate using standard amortization math.
Mortgage Payoff Calculator — Description
The Mortgage Payoff Calculator estimates how long it will take to pay off your mortgage and how much interest you can save by making extra payments. Enter your remaining loan balance, annual interest rate (APR), and your monthly payment. Then add an optional extra payment (monthly or yearly) to see your new payoff timeline, total interest paid, and the difference compared to making only the base payment.
This calculator is ideal for homeowners who want to pay off debt faster, compare payoff strategies, or understand the impact of making consistent extra payments over time.