Mortgage Payoff Calculator

Want to see how quickly you can pay off your mortgage  and how much interest you can save?
Our Mortgage Payoff Calculator makes it easy. Simply enter your loan details, add any extra payments you’d like to make, and instantly discover how much faster you can become debt-free.

This tool is perfect for homeowners who are curious about:

• How much interest they’ll save with extra payments
  
• How making one extra monthly or yearly payment affects their loan
  
• How early they can pay off their mortgage compared to the original schedule
  
• What a detailed amortization schedule looks like with accelerated payments
  

After entering your details, click “Calculate” to see a clear breakdown of your savings, updated payoff timeline, and a full amortization schedule you can use to plan smarter.

Why Use a Mortgage Payoff Calculator?

Paying off your mortgage faster can save you thousands in interest and give you financial freedom years earlier. Even small extra payments  like an additional $100 per month  can dramatically shorten your loan term.

Our calculator shows you exactly how those payments impact your mortgage:

• New monthly payment (with extra principal added)
  
• Total interest savings over the life of the loan
  
• Revised payoff date compared to your original mortgage term
  

This gives you the power to plan strategically, whether you want to:

• Budget for early payoff
  
• Compare different payment scenarios
  
• See how much interest you’ll save with each option
  

Key Definitions

To help you understand the results, here are a few important terms:

• Annual Interest Rate: The yearly rate used to calculate your mortgage interest (different from APR, which includes fees and insurance).
  
• Original Mortgage Term: The total number of years of your mortgage (commonly 15, 20, or 30 years).
  
• Years Remaining: How many years are left to pay off your mortgage.
  
• Original Mortgage Amount: The amount you originally borrowed (not your current balance).
  
• Additional Principal Payment: The extra amount you choose to pay each month to reduce your loan faster.
  
• Current Mortgage Payment: Your standard monthly payment based on loan amount, rate, and term.
  
• Monthly Accelerated Payment: Your standard payment plus any extra payment you’ve added.
  
• Total Savings: The amount of interest you’ll save by making accelerated payments.
  

Take Control of Your Mortgage

Your mortgage doesn’t have to last 30 years. With just a few extra payments, you can save thousands of dollars, build equity faster, and reach financial freedom sooner.

👉 Try our Mortgage Payoff Calculator now and see how small changes today can make a huge difference tomorrow.