Free calculator

Mortgage Payoff Calculator

Free Mortgage Payoff Calculator with instant browser-based results and a clear calculation breakdown.

Mortgage Payoff Calculator

Calculate how long it will take to pay off your mortgage with extra payments and see how much interest you'll save.

Loan Amount ($)

Please enter a valid loan amount

Annual Interest Rate (%)

Please enter a valid interest rate (0-30%)

Original Loan Term (years)

Please enter a valid loan term (1-50 years)

Months Already Paid

Please enter valid months paid

Extra Monthly Payment ($)

Please enter a valid extra payment amount

Payoff Results

Regular Monthly Payment

Time to Payoff (with extra payments)

0 years 0 months

Total Interest Paid (with extra payments)

Interest Saved vs. Original Schedule

Time Saved

0 months

How This Works: The calculator uses the standard amortization formula to determine your regular monthly payment: M = P × [r(1+r)^n] / [(1+r)^n - 1], where P is principal, r is monthly interest rate, and n is number of payments. Extra payments are applied directly to the principal, reducing the balance faster and saving interest over time. Results are estimates for informational purposes only.

Month	Payment	Principal	Interest	Balance

Want to understand the calculation?

See examples, formula notes and limitations.

Read the guide