$calculatepayoffCalculators

Mortgage Payoff Calculator

See how much sooner you own the house outright and what it saves in interest.

Down payment
$
Total monthly payment
$2,222.62

$2,022.62 scheduled + $200.00 extra

Debt-free in
23 yr 5 mo
Payoff date
February 2050
Total interest
$302,714
Total paid
$622,714

Paying $200.00 extra each month

Interest saved
$105,429
Time saved
6 yr 7 mo

Amortization schedule

281 total payments. Scroll the table for every row.

MonthPaymentInterestPrincipalBalance
1$2,222.62$1,733.33$489.28$319,510.72
2$2,222.62$1,730.68$491.93$319,018.78
3$2,222.62$1,728.02$494.60$318,524.18
4$2,222.62$1,725.34$497.28$318,026.90
5$2,222.62$1,722.65$499.97$317,526.93
6$2,222.62$1,719.94$502.68$317,024.25
7$2,222.62$1,717.21$505.40$316,518.85
8$2,222.62$1,714.48$508.14$316,010.71
9$2,222.62$1,711.72$510.89$315,499.81
10$2,222.62$1,708.96$513.66$314,986.15
11$2,222.62$1,706.18$516.44$314,469.71
12$2,222.62$1,703.38$519.24$313,950.47
13$2,222.62$1,700.57$522.05$313,428.42
14$2,222.62$1,697.74$524.88$312,903.54
15$2,222.62$1,694.89$527.72$312,375.82
16$2,222.62$1,692.04$530.58$311,845.23
17$2,222.62$1,689.16$533.46$311,311.78
18$2,222.62$1,686.27$536.35$310,775.43
19$2,222.62$1,683.37$539.25$310,236.18
20$2,222.62$1,680.45$542.17$309,694.01
21$2,222.62$1,677.51$545.11$309,148.90
22$2,222.62$1,674.56$548.06$308,600.84
23$2,222.62$1,671.59$551.03$308,049.81
24$2,222.62$1,668.60$554.01$307,495.80
25$2,222.62$1,665.60$557.02$306,938.78
26$2,222.62$1,662.59$560.03$306,378.75
27$2,222.62$1,659.55$563.07$305,815.68
28$2,222.62$1,656.50$566.12$305,249.56
29$2,222.62$1,653.44$569.18$304,680.38
30$2,222.62$1,650.35$572.27$304,108.12
31$2,222.62$1,647.25$575.37$303,532.75
32$2,222.62$1,644.14$578.48$302,954.27
33$2,222.62$1,641.00$581.62$302,372.65
34$2,222.62$1,637.85$584.77$301,787.89
35$2,222.62$1,634.68$587.93$301,199.96
36$2,222.62$1,631.50$591.12$300,608.84
37$2,222.62$1,628.30$594.32$300,014.52
38$2,222.62$1,625.08$597.54$299,416.98
39$2,222.62$1,621.84$600.78$298,816.20
40$2,222.62$1,618.59$604.03$298,212.17
41$2,222.62$1,615.32$607.30$297,604.87
42$2,222.62$1,612.03$610.59$296,994.28
43$2,222.62$1,608.72$613.90$296,380.38
44$2,222.62$1,605.39$617.22$295,763.16
45$2,222.62$1,602.05$620.57$295,142.59
46$2,222.62$1,598.69$623.93$294,518.66
47$2,222.62$1,595.31$627.31$293,891.35
48$2,222.62$1,591.91$630.71$293,260.65
49$2,222.62$1,588.50$634.12$292,626.52
50$2,222.62$1,585.06$637.56$291,988.97
51$2,222.62$1,581.61$641.01$291,347.96
52$2,222.62$1,578.13$644.48$290,703.47
53$2,222.62$1,574.64$647.97$290,055.50
54$2,222.62$1,571.13$651.48$289,404.02
55$2,222.62$1,567.61$655.01$288,749.00
56$2,222.62$1,564.06$658.56$288,090.44
57$2,222.62$1,560.49$662.13$287,428.31
58$2,222.62$1,556.90$665.71$286,762.60
59$2,222.62$1,553.30$669.32$286,093.28
60$2,222.62$1,549.67$672.95$285,420.33
61$2,222.62$1,546.03$676.59$284,743.74
62$2,222.62$1,542.36$680.26$284,063.49
63$2,222.62$1,538.68$683.94$283,379.55
64$2,222.62$1,534.97$687.65$282,691.90
65$2,222.62$1,531.25$691.37$282,000.53
66$2,222.62$1,527.50$695.11$281,305.42
67$2,222.62$1,523.74$698.88$280,606.54
68$2,222.62$1,519.95$702.67$279,903.87
69$2,222.62$1,516.15$706.47$279,197.40
70$2,222.62$1,512.32$710.30$278,487.10
71$2,222.62$1,508.47$714.15$277,772.96
72$2,222.62$1,504.60$718.01$277,054.94
73$2,222.62$1,500.71$721.90$276,333.04
74$2,222.62$1,496.80$725.81$275,607.22
75$2,222.62$1,492.87$729.75$274,877.48
76$2,222.62$1,488.92$733.70$274,143.78
77$2,222.62$1,484.95$737.67$273,406.11
78$2,222.62$1,480.95$741.67$272,664.44
79$2,222.62$1,476.93$745.69$271,918.76
80$2,222.62$1,472.89$749.72$271,169.03
81$2,222.62$1,468.83$753.79$270,415.25
82$2,222.62$1,464.75$757.87$269,657.38
83$2,222.62$1,460.64$761.97$268,895.40
84$2,222.62$1,456.52$766.10$268,129.30
85$2,222.62$1,452.37$770.25$267,359.05
86$2,222.62$1,448.19$774.42$266,584.63
87$2,222.62$1,444.00$778.62$265,806.01
88$2,222.62$1,439.78$782.84$265,023.18
89$2,222.62$1,435.54$787.08$264,236.10
90$2,222.62$1,431.28$791.34$263,444.76
91$2,222.62$1,426.99$795.63$262,649.14
92$2,222.62$1,422.68$799.93$261,849.20
93$2,222.62$1,418.35$804.27$261,044.94
94$2,222.62$1,413.99$808.62$260,236.31
95$2,222.62$1,409.61$813.00$259,423.31
96$2,222.62$1,405.21$817.41$258,605.90
97$2,222.62$1,400.78$821.84$257,784.06
98$2,222.62$1,396.33$826.29$256,957.78
99$2,222.62$1,391.85$830.76$256,127.01
100$2,222.62$1,387.35$835.26$255,291.75
101$2,222.62$1,382.83$839.79$254,451.96
102$2,222.62$1,378.28$844.34$253,607.63
103$2,222.62$1,373.71$848.91$252,758.72
104$2,222.62$1,369.11$853.51$251,905.21
105$2,222.62$1,364.49$858.13$251,047.08
106$2,222.62$1,359.84$862.78$250,184.30
107$2,222.62$1,355.16$867.45$249,316.84
108$2,222.62$1,350.47$872.15$248,444.69
109$2,222.62$1,345.74$876.88$247,567.82
110$2,222.62$1,340.99$881.63$246,686.19
111$2,222.62$1,336.22$886.40$245,799.79
112$2,222.62$1,331.42$891.20$244,908.59
113$2,222.62$1,326.59$896.03$244,012.56
114$2,222.62$1,321.73$900.88$243,111.68
115$2,222.62$1,316.85$905.76$242,205.91
116$2,222.62$1,311.95$910.67$241,295.25
117$2,222.62$1,307.02$915.60$240,379.64
118$2,222.62$1,302.06$920.56$239,459.08
119$2,222.62$1,297.07$925.55$238,533.53
120$2,222.62$1,292.06$930.56$237,602.97
121$2,222.62$1,287.02$935.60$236,667.37
122$2,222.62$1,281.95$940.67$235,726.70
123$2,222.62$1,276.85$945.76$234,780.94
124$2,222.62$1,271.73$950.89$233,830.05
125$2,222.62$1,266.58$956.04$232,874.01
126$2,222.62$1,261.40$961.22$231,912.80
127$2,222.62$1,256.19$966.42$230,946.37
128$2,222.62$1,250.96$971.66$229,974.71
129$2,222.62$1,245.70$976.92$228,997.79
130$2,222.62$1,240.40$982.21$228,015.58
131$2,222.62$1,235.08$987.53$227,028.05
132$2,222.62$1,229.74$992.88$226,035.16
133$2,222.62$1,224.36$998.26$225,036.90
134$2,222.62$1,218.95$1,003.67$224,033.24
135$2,222.62$1,213.51$1,009.10$223,024.13
136$2,222.62$1,208.05$1,014.57$222,009.56
137$2,222.62$1,202.55$1,020.07$220,989.49
138$2,222.62$1,197.03$1,025.59$219,963.90
139$2,222.62$1,191.47$1,031.15$218,932.76
140$2,222.62$1,185.89$1,036.73$217,896.03
141$2,222.62$1,180.27$1,042.35$216,853.68
142$2,222.62$1,174.62$1,047.99$215,805.68
143$2,222.62$1,168.95$1,053.67$214,752.01
144$2,222.62$1,163.24$1,059.38$213,692.64
145$2,222.62$1,157.50$1,065.12$212,627.52
146$2,222.62$1,151.73$1,070.89$211,556.64
147$2,222.62$1,145.93$1,076.69$210,479.95
148$2,222.62$1,140.10$1,082.52$209,397.43
149$2,222.62$1,134.24$1,088.38$208,309.05
150$2,222.62$1,128.34$1,094.28$207,214.77
151$2,222.62$1,122.41$1,100.20$206,114.57
152$2,222.62$1,116.45$1,106.16$205,008.40
153$2,222.62$1,110.46$1,112.16$203,896.25
154$2,222.62$1,104.44$1,118.18$202,778.07
155$2,222.62$1,098.38$1,124.24$201,653.83
156$2,222.62$1,092.29$1,130.33$200,523.51
157$2,222.62$1,086.17$1,136.45$199,387.06
158$2,222.62$1,080.01$1,142.60$198,244.45
159$2,222.62$1,073.82$1,148.79$197,095.66
160$2,222.62$1,067.60$1,155.02$195,940.64
161$2,222.62$1,061.35$1,161.27$194,779.37
162$2,222.62$1,055.05$1,167.56$193,611.81
163$2,222.62$1,048.73$1,173.89$192,437.92
164$2,222.62$1,042.37$1,180.25$191,257.68
165$2,222.62$1,035.98$1,186.64$190,071.04
166$2,222.62$1,029.55$1,193.07$188,877.97
167$2,222.62$1,023.09$1,199.53$187,678.44
168$2,222.62$1,016.59$1,206.03$186,472.42
169$2,222.62$1,010.06$1,212.56$185,259.86
170$2,222.62$1,003.49$1,219.13$184,040.73
171$2,222.62$996.89$1,225.73$182,815.00
172$2,222.62$990.25$1,232.37$181,582.63
173$2,222.62$983.57$1,239.05$180,343.59
174$2,222.62$976.86$1,245.76$179,097.83
175$2,222.62$970.11$1,252.50$177,845.32
176$2,222.62$963.33$1,259.29$176,586.04
177$2,222.62$956.51$1,266.11$175,319.93
178$2,222.62$949.65$1,272.97$174,046.96
179$2,222.62$942.75$1,279.86$172,767.09
180$2,222.62$935.82$1,286.80$171,480.30
181$2,222.62$928.85$1,293.77$170,186.53
182$2,222.62$921.84$1,300.77$168,885.76
183$2,222.62$914.80$1,307.82$167,577.94
184$2,222.62$907.71$1,314.90$166,263.03
185$2,222.62$900.59$1,322.03$164,941.01
186$2,222.62$893.43$1,329.19$163,611.82
187$2,222.62$886.23$1,336.39$162,275.43
188$2,222.62$878.99$1,343.63$160,931.81
189$2,222.62$871.71$1,350.90$159,580.91
190$2,222.62$864.40$1,358.22$158,222.68
191$2,222.62$857.04$1,365.58$156,857.11
192$2,222.62$849.64$1,372.98$155,484.13
193$2,222.62$842.21$1,380.41$154,103.72
194$2,222.62$834.73$1,387.89$152,715.83
195$2,222.62$827.21$1,395.41$151,320.42
196$2,222.62$819.65$1,402.97$149,917.46
197$2,222.62$812.05$1,410.56$148,506.89
198$2,222.62$804.41$1,418.21$147,088.69
199$2,222.62$796.73$1,425.89$145,662.80
200$2,222.62$789.01$1,433.61$144,229.19
201$2,222.62$781.24$1,441.38$142,787.81
202$2,222.62$773.43$1,449.18$141,338.63
203$2,222.62$765.58$1,457.03$139,881.60
204$2,222.62$757.69$1,464.93$138,416.67
205$2,222.62$749.76$1,472.86$136,943.81
206$2,222.62$741.78$1,480.84$135,462.97
207$2,222.62$733.76$1,488.86$133,974.11
208$2,222.62$725.69$1,496.92$132,477.19
209$2,222.62$717.58$1,505.03$130,972.15
210$2,222.62$709.43$1,513.19$129,458.97
211$2,222.62$701.24$1,521.38$127,937.59
212$2,222.62$693.00$1,529.62$126,407.96
213$2,222.62$684.71$1,537.91$124,870.06
214$2,222.62$676.38$1,546.24$123,323.82
215$2,222.62$668.00$1,554.61$121,769.20
216$2,222.62$659.58$1,563.03$120,206.17
217$2,222.62$651.12$1,571.50$118,634.67
218$2,222.62$642.60$1,580.01$117,054.66
219$2,222.62$634.05$1,588.57$115,466.08
220$2,222.62$625.44$1,597.18$113,868.91
221$2,222.62$616.79$1,605.83$112,263.08
222$2,222.62$608.09$1,614.53$110,648.55
223$2,222.62$599.35$1,623.27$109,025.28
224$2,222.62$590.55$1,632.06$107,393.22
225$2,222.62$581.71$1,640.90$105,752.31
226$2,222.62$572.83$1,649.79$104,102.52
227$2,222.62$563.89$1,658.73$102,443.79
228$2,222.62$554.90$1,667.71$100,776.08
229$2,222.62$545.87$1,676.75$99,099.33
230$2,222.62$536.79$1,685.83$97,413.50
231$2,222.62$527.66$1,694.96$95,718.54
232$2,222.62$518.48$1,704.14$94,014.40
233$2,222.62$509.24$1,713.37$92,301.03
234$2,222.62$499.96$1,722.65$90,578.37
235$2,222.62$490.63$1,731.98$88,846.39
236$2,222.62$481.25$1,741.37$87,105.02
237$2,222.62$471.82$1,750.80$85,354.22
238$2,222.62$462.34$1,760.28$83,593.94
239$2,222.62$452.80$1,769.82$81,824.12
240$2,222.62$443.21$1,779.40$80,044.72
241$2,222.62$433.58$1,789.04$78,255.68
242$2,222.62$423.88$1,798.73$76,456.94
243$2,222.62$414.14$1,808.48$74,648.47
244$2,222.62$404.35$1,818.27$72,830.20
245$2,222.62$394.50$1,828.12$71,002.07
246$2,222.62$384.59$1,838.02$69,164.05
247$2,222.62$374.64$1,847.98$67,316.07
248$2,222.62$364.63$1,857.99$65,458.08
249$2,222.62$354.56$1,868.05$63,590.03
250$2,222.62$344.45$1,878.17$61,711.86
251$2,222.62$334.27$1,888.35$59,823.51
252$2,222.62$324.04$1,898.57$57,924.94
253$2,222.62$313.76$1,908.86$56,016.08
254$2,222.62$303.42$1,919.20$54,096.89
255$2,222.62$293.02$1,929.59$52,167.29
256$2,222.62$282.57$1,940.04$50,227.25
257$2,222.62$272.06$1,950.55$48,276.69
258$2,222.62$261.50$1,961.12$46,315.58
259$2,222.62$250.88$1,971.74$44,343.83
260$2,222.62$240.20$1,982.42$42,361.41
261$2,222.62$229.46$1,993.16$40,368.25
262$2,222.62$218.66$2,003.96$38,364.30
263$2,222.62$207.81$2,014.81$36,349.48
264$2,222.62$196.89$2,025.72$34,323.76
265$2,222.62$185.92$2,036.70$32,287.06
266$2,222.62$174.89$2,047.73$30,239.33
267$2,222.62$163.80$2,058.82$28,180.51
268$2,222.62$152.64$2,069.97$26,110.54
269$2,222.62$141.43$2,081.19$24,029.35
270$2,222.62$130.16$2,092.46$21,936.89
271$2,222.62$118.82$2,103.79$19,833.10
272$2,222.62$107.43$2,115.19$17,717.91
273$2,222.62$95.97$2,126.65$15,591.27
274$2,222.62$84.45$2,138.16$13,453.10
275$2,222.62$72.87$2,149.75$11,303.36
276$2,222.62$61.23$2,161.39$9,141.96
277$2,222.62$49.52$2,173.10$6,968.87
278$2,222.62$37.75$2,184.87$4,784.00
279$2,222.62$25.91$2,196.70$2,587.29
280$2,222.62$14.01$2,208.60$378.69
281$2,222.62$2.05$378.69$0.00

How a mortgage payoff is calculated

A mortgage is a fully amortizing loan: every payment covers one month of interest on the balance you still owe, and whatever is left over reduces the principal. Because interest is charged on the remaining balance, the split shifts over time — early payments are mostly interest, later payments are mostly principal.

This calculator solves that schedule month by month. Give it your current balance, your annual interest rate and how many years are left, and it works out the level payment that clears the loan exactly on schedule, then reports the payoff date and the total interest you will pay to get there.

If you already know your payment and want the timeline instead, switch to payment mode. The math is the same equation solved for months rather than for dollars.

Why extra principal payments work so hard on a mortgage

Extra money applied to principal permanently removes that dollar from every future interest calculation. On a 30-year loan at a typical rate, a dollar of extra principal in year one can save two dollars or more of interest over the life of the loan — which is why a modest, consistent extra payment often cuts years off the term.

Timing matters more than size. The same extra payment made in year two saves far more than one made in year twenty, because it has more remaining months to compound against.

When you send extra money, tell your servicer in writing to apply it to principal. Otherwise many lenders bank it as a prepaid future installment, which does not shorten the loan at all.

What the result does not include

Payoff figures here cover principal and interest only. Your actual monthly payment likely also includes escrow for property taxes, homeowners insurance and, if you put down less than twenty percent, private mortgage insurance. Those costs do not shrink when you prepay principal, though PMI usually drops off once you cross twenty percent equity.

Also check your note for a prepayment penalty. They are uncommon on conforming loans today, but they still exist on some non-qualified and older mortgages.

Common mistakes

Entering the original loan amount instead of the current balance is the most common one — use the balance from your latest statement. Second is using the term you started with rather than the years remaining. Third is entering the full escrowed payment in payment mode; use only the principal-and-interest portion, which your statement breaks out.

Worked example

Balance
$320,000
Rate
6.5%
Years remaining
30
Payment (principal & interest)
$2,023
Total interest with no extra payment
$408,000
With $200 extra each month
Paid off about 5 years 3 months sooner
Interest saved
About $91,000

Figures rounded. Run your own numbers above — the savings scale roughly with your rate.

Frequently asked questions

How much sooner will I pay off my mortgage with an extra $100 a month?

On a $300,000 balance at 6.5% with 30 years left, an extra $100 a month typically shortens the loan by about three years and saves roughly $55,000 in interest. The higher your rate and the earlier you start, the bigger the effect.

Is it better to pay extra on my mortgage or invest the money?

Paying extra earns a guaranteed, tax-free return equal to your mortgage rate. Investing may return more but is not guaranteed. Most people compare their mortgage rate to a realistic after-tax investment return, and pay off higher-rate debt like credit cards first either way.

Does paying extra lower my monthly payment?

No. Extra principal shortens the loan but leaves the required payment unchanged, unless you ask your lender to recast the mortgage, which re-amortizes the smaller balance over the original term and lowers the payment.

What is a mortgage recast?

A recast applies a lump sum to principal and recalculates the monthly payment over the remaining term, usually for a small fee. It lowers your payment but does not shorten the loan the way ongoing extra payments do.

Should I refinance instead of paying extra?

Refinancing helps when current rates are meaningfully below your rate and you will stay long enough to recover closing costs. Extra payments help at any rate and cost nothing. They are not mutually exclusive.

Do I still need escrow after the mortgage is paid off?

No. Once the loan is gone the escrow account is closed and you pay property taxes and insurance directly. Budget for those bills before you celebrate the payoff.

Is this mortgage payoff calculator free?

Yes. Every calculator here is free, requires no signup, and runs entirely in your browser — none of the numbers you enter are sent anywhere.