Mortgage Payoff Calculator
Pay off your mortgage years early.
Enter your values
ⓘ Live results
Results
- 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.
How to use the Mortgage Payoff Calculator
- 1Enter your remaining balance and rate.
- 2Enter years left on the loan.
- 3Try different extra payment amounts.
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.
About this calculator
- Built and reviewed by James Whitfield · How we build and test calculators
- Report an error
Results are estimates for general information. For medical, legal, structural or financial decisions, confirm with a qualified professional.