run mortgage-payoff
Mortgage Payoff Calculator
Extra principal payments against a mortgage: payoff date moved up, interest saved.
New to this? Start here
Every extra dollar you put toward your mortgage goes straight to the loan's principal instead of future interest, which shrinks both the total interest you'll ever pay and how long you're stuck paying it. There's no trick here — just less balance for interest to grow on. Drag the extra-payment slider to see how much sooner you'd be mortgage-free.Payoff moved up by
6 yr 2 mo
Interest saved
$93,024
New payoff time
18 yr 10 mo
vs 25 yr scheduled
An extra $300/mo moves payoff up by 6 yr 2 mo and saves $93,024 in interest.
With extra paymentsScheduled
View as table
| Year | Scheduled balance | With extra balance |
|---|---|---|
| 0 | $320,000 | $320,000 |
| 1 | $314,716 | $311,007 |
| 2 | $309,079 | $301,412 |
| 3 | $303,064 | $291,175 |
| 4 | $296,646 | $280,251 |
| 5 | $289,799 | $268,597 |
| 6 | $282,493 | $256,161 |
| 7 | $274,697 | $242,893 |
| 8 | $266,380 | $228,737 |
| 9 | $257,505 | $213,632 |
| 10 | $248,036 | $197,515 |
| 11 | $237,933 | $180,320 |
| 12 | $227,154 | $161,972 |
| 13 | $215,652 | $142,396 |
| 14 | $203,380 | $121,509 |
| 15 | $190,286 | $99,223 |
| 16 | $176,316 | $75,444 |
| 17 | $161,409 | $50,073 |
| 18 | $145,505 | $23,003 |
| 19 | $128,535 | Paid off |
| 20 | $110,429 | Paid off |
| 21 | $91,110 | Paid off |
| 22 | $70,497 | Paid off |
| 23 | $48,504 | Paid off |
| 24 | $25,038 | Paid off |
| 25 | $0 | Paid off |
Methodology & assumptions
- Fixed-rate loan: the scheduled payment is the standard amortization payment for the given balance, APR, and years remaining.
- Extra principal is applied every month on top of the scheduled payment — no recast, no fees, no change to the interest rate.
- Property taxes, homeowners insurance, and PMI are excluded — this is principal and interest only.
- Results are nominal and assume the extra payment stays constant for the life of the loan.
Educational only
This simulator is for education. It uses simplified assumptions, is not financial, tax, or investment advice, and no result here is a prediction or a recommendation. Talk to a licensed professional before acting.More debt & payoff tools
debt
Credit Card Payoff
Minimum payments vs fixed payments — the years and interest between them, animated.
debt
Snowball vs Avalanche
Stack multiple debts and compare snowball (smallest first) against avalanche (highest APR first).
debt
Mortgage Payment
Full monthly cost of a home — principal & interest, property tax, insurance, HOA, and PMI — with the income the 28% rule says you'd need.