Mortgage Payoff Calculator
Pay off your mortgage years early.
Enter your values
Enter the current balance in $.
Enter the interest rate in %.
Enter the years remaining you are working with.
Enter the extra monthly payment in $.
Results update instantly as you type — no submit needed. Your values are remembered on this device, and the shareable link reopens the calculator with exactly these numbers.
- New payoff time
- 19 yr 8 mo
- Months saved
- 76
- Interest saved
- $80,866.51
- New monthly payment
- $2,067.79
- Total interest paid
- $206,284.00
Quick answer
Extra principal payments compound: even $200 a month can remove several years and tens of thousands in interest.
At a glance
| What it does | Pay off your mortgage years early. |
|---|---|
| Category | Real Estate |
| Inputs needed | Current balance, Interest rate, Years remaining, Extra monthly payment |
| Main output | New payoff time |
| Cost | Free — no sign-up, no download |
How to use the Mortgage Payoff Calculator
- 1Enter your remaining balance and rate.
- 2Enter years left on the loan.
- 3Try different extra payment amounts.
Inputs explained
- Current balance($)
- Enter the current balance in $.
- Interest rate(%)
- Enter the interest rate in %.
- Years remaining
- Enter the years remaining you are working with.
- Extra monthly payment($)
- Enter the extra monthly payment in $.
Worked example
Using the values the calculator loads with:
Inputs
- Current balance280000 $
- Interest rate6.25 %
- Years remaining26
- Extra monthly payment250 $
Results
- New payoff time19 yr 8 mo
- Months saved76
- Interest saved$80,866.51
- New monthly payment$2,067.79
- Total interest paid$206,284.00
Frequently asked questions
Is paying off early always best?
Not if your rate is below what you can earn investing — compare after tax.
Do I need to tell the lender?
Yes, mark extra funds as principal-only or they may be applied to next month's payment.
What do I need to enter into the Mortgage Payoff Calculator?
Just 4 values: current balance, interest rate, years remaining, extra monthly payment. Every field starts with a realistic example, so you can change one number at a time and watch the result update instantly.
How does the Mortgage Payoff Calculator work out the answer?
Extra principal payments compound: even $200 a month can remove several years and tens of thousands in interest. The working is shown step by step so you can verify the result by hand.
Is the Mortgage Payoff Calculator free, and do I need an account?
It is completely free with no sign-up, no download and no usage limit. Everything is calculated in your browser, so the numbers you type never leave your device.
Results are estimates for general information. For medical, legal, structural or financial decisions, confirm with a qualified professional.