Mortgage Payoff Calculator
See how fast extra payments crush your mortgage. Enter your balance, rate, and payment, add an extra monthly amount or a one-time lump sum, and watch your payoff date and total interest drop.
Open the free Mortgage Payoff Calculator →Free, no account, no email — your numbers stay in your browser.
How paying extra on your mortgage helps
Early in a 30-year loan, most of each payment goes to interest, not principal. Because any extra payment goes straight to principal, even a modest amount each month can knock years off the loan and save tens of thousands in interest.
- Enter your current balance, interest rate, and monthly payment.
- Add an extra monthly amount, a one-time lump sum, or both.
- See your new payoff date, the total interest you'll pay, and exactly how much time and interest you save.
Should you pay off the mortgage early?
Once you're debt-free otherwise and investing for retirement, throwing extra at the mortgage is a guaranteed, risk-free return equal to your interest rate — plus the peace of a paid-for home. This calculator shows the payoff so you can weigh it against investing the same money.
Frequently asked questions
How much do extra mortgage payments save?
It depends on your rate and balance, but on a typical 30-year loan even $100–300 extra a month can cut several years and tens of thousands in interest. The calculator shows your exact numbers.
Is it better to pay off the mortgage early or invest?
Paying extra is a guaranteed return equal to your rate; investing may return more but with risk. Many people do both once higher-interest debt is gone. This tool quantifies the payoff side so you can compare.
Does a lump sum or extra monthly payment help more?
Both help; a lump sum applied early saves the most interest because it removes principal sooner. The calculator lets you model either or both.
Is this mortgage payoff calculator free?
Yes — free, private, no sign-up. Your numbers stay in your browser.