HOME BUYING, EQUITY, AND BORROWING
Mortgage Payoff Calculator
Estimate mortgage payoff time and interest savings when you add the same extra principal payment each month.
Review your result
Your result
Ready when you are.
Enter your values and select Calculate. Your result stays on this device.
How it works
The scheduled fixed-rate payment is calculated first. The selected extra amount is then added to every monthly payment and applied to the remaining principal in this estimate.
Assumptions
Uses a fixed rate, no fees, no prepayment penalty, and one constant extra payment. Your servicer may apply payments differently or require payment instructions.
About this calculator
An extra payment can reduce principal sooner, which may reduce later interest. This page makes that trade-off visible without assuming that your servicer will change the payment due date or apply an overpayment automatically.
How to use it
- Enter the balance and remaining term shown by your loan servicer.
- Use the note rate from your current mortgage statement.
- Enter only the extra amount you expect to send consistently each month.
- Compare the estimated payoff time and interest with the scheduled payment.
Use case
mortgage payoff calculator: a clear planning check
Estimate mortgage payoff time and interest savings when you add the same extra principal payment each month. The stated formula, assumptions, and result limits remain visible so the calculation can be checked in context.
Use a clear mortgage payoff calculator scenario with values you can verify before relying on the result.
Source and update
Last reviewed: 2026-08-08
Consumer Financial Protection Bureau mortgage guidanceFrequently asked questions
Does an extra mortgage payment always go to principal?
Not automatically. Loan servicers can have specific instructions for principal-only payments, and a payment can be treated as an early next payment unless you follow their process.
Does this calculator include taxes and insurance?
No. It estimates principal and interest repayment. Escrow, property tax, homeowners insurance, PMI, HOA dues, and fees are not part of the payoff schedule.
Keep exploring