$280,000 balance with $200.00 extra/mo
- Scheduled payment
- $1,847.07
- Interest saved
- $63,050.68
- Months saved
- 60 months
- One-time payment
- $0.00
Ask your lender for an official payoff quote before sending a final payoff amount.
Mortgage Payoff Calculator
Use this free mortgage payoff calculator to estimate payoff time, interest saved, months saved, and the impact of extra monthly or one-time payments.
Formula steps Estimate limits shown Examples included Private history
Formula steps
- Calculate the regular payment from current balance, rate, and remaining term.
- Subtract any one-time extra payment from the balance.
- Add the extra monthly payment to the regular payment.
- Simulate monthly interest and principal until the balance reaches zero.
How to use the mortgage payoff calculator
- Enter the requested dollar amounts, rates, terms, tax settings, or contribution details.
- Use rates as percentages, such as 6.5 for 6.5%, and check whether a field asks for a monthly or annual amount.
- Press the calculate button to see the answer, supporting metrics, and formula steps.
- Use the result as a planning estimate only, then copy it if the assumptions look right.
Common uses
See how an extra monthly mortgage payment changes payoff time.
Estimate interest saved from a one-time principal payment.
Compare conservative and aggressive payoff scenarios.
Plan questions to ask a lender before making extra payments.
Examples
Payoff time and interest saved
Lower remaining principal
Shorter payoff estimate
Frequently asked questions
Plain-language answers about when to use the estimate, what your numbers mean, what is left out, and how privacy works.
When should I use the Mortgage Payoff Calculator?
Use it for early planning and side-by-side comparisons, especially for tasks like these: See how an extra monthly mortgage payment changes payoff time. Estimate interest saved from a one-time principal payment. Treat the answer as a planning estimate, not a final quote.
What is the Mortgage Payoff Calculator doing with my numbers?
In plain language: The calculator finds the scheduled payment, subtracts any one-time extra payment, adds extra monthly payment, then simulates monthly interest and principal reduction until payoff. If the result seems too high or too low, first check whether each field expects a monthly amount, annual amount, dollar value, or percent.
What does this estimate leave out?
This is not an official payoff quote. Lenders may include escrow, fees, interest timing, payoff statement rules, or prepayment rules. Real finance decisions can also depend on fees, timing, local rules, credit details, and provider-specific terms.
Does the site save my finance inputs?
No. The calculator runs in your browser tab. Recent answers stay only on the page while you use it, and they are not sent to a server.