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Mortgage Payoff Calculator - Early Payoff

Free mortgage payoff calculator. See how extra payments reduce your mortgage term and save interest. Calculate early payoff date.

Calculate early payoff savings

Enter your values to see results

and click the "Calculate" button

Mortgage Payoff Calculator

See how extra payments can dramatically reduce your mortgage term and save thousands in interest.

Extra $200/month on $250K mortgage can save 5+ years and $50K+ in interest

Extra payments go directly to principal, reducing the base that accrues interest. The earlier you start, the more you save.

Should I pay extra on my mortgage?

If your rate is higher than investment returns (~7%) and you have emergency savings, yes. Otherwise, investing might be better.

Biweekly vs monthly payments?

Biweekly = 26 half-payments = 13 full payments/year. That's one extra payment yearly, cutting ~4-6 years off a 30-year mortgage.

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