Mortgage Payoff Calculator
Each monthly payment covers accrued interest and reduces the balance; an extra amount reduces principal faster.
This calculator is free to use. Enable JavaScript to enter your values and see a result instantly.
How it works
Each monthly payment covers accrued interest and reduces the balance; an extra amount reduces principal faster.
Worked example
Even a small extra monthly payment can shorten a long mortgage.
Keep in mind
Escrow, payment timing, and prepayment rules are not included.