Free tool

Mortgage Payoff Calculator

How much sooner you'd be mortgage-free with an extra monthly payment — and exactly how much interest it saves.

Your mortgage

Uses your remaining balance and term — not the original loan. Principal & interest only.

Paid off
July 2046
Interest saved
$66,894
Time saved
5y 0m
Without the extra payment you'd finish in July 2051 and pay $287,174 in interest.

Balance: with vs. without extra payments

How this works

Every extra dollar goes straight to principal, so next month's interest is charged on a smaller balance. That compounding effect is why modest extra payments early in a loan save far more than the same payments made later. Some servicers apply extra money to future payments instead of principal unless you tell them otherwise — worth checking how yours handles it.

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