Mortgage Payoff Calculator
Time saved depends on extra payment applied to principal each month.Extra $200/month shortens 30-year loan by about 6 years and saves ~$28,000
Free online tool
Mortgage Payoff Calculator
Enter your remaining balance, interest rate and extra monthly payment amount.
Instant calculation
Mortgage Payoff Calculator
Enter your remaining balance, interest rate and extra monthly payment amount.
Your result
Calculation
Your numbers stay in this browser. Nothing is uploaded or saved.
Three clear steps
How to use this calculator
- 01
Enter remaining balance
Type your current mortgage balance.
- 02
Enter rate
Provide your current interest rate.
- 03
Add extra payment
Enter the additional amount you can pay each month.
The formula
How this calculation works
Extra payments reduce principal faster, which lowers total interest and shortens the loan term.
Check the method
Worked examples
Each example follows the same formula used by the calculator.
$200,000 at 4%, extra $200/month — how much faster?
Extra $200/month shortens 30-year loan by about 6 years and saves ~$28,000~6 years sooner, ~$28,000 savedCommon questions
Questions about this calculation
What is the Mortgage Payoff Calculator?
The Mortgage Payoff Calculator helps you calculate how extra payments can shorten your mortgage term and save interest. Enter your values and select Calculate to get an instant result.
How is the result calculated?
Extra payments reduce principal faster, which lowers total interest and shortens the loan term.
Can you show an example?
Example: $200,000 at 4%, extra $200/month — how much faster? — ~6 years sooner, ~$28,000 saved.
Is my data saved when I use the Mortgage Payoff Calculator?
No. All calculations run locally in your browser. Your inputs and results are never uploaded, stored or shared with anyone.
Is the Mortgage Payoff Calculator free to use?
Yes. The Mortgage Payoff Calculator is completely free. No account, sign-up or payment is required. It works on mobile, tablet and desktop.
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