Own your home, years ahead of schedule.
Minor increases to your monthly mortgage payments can eliminate your home loan a decade early. Model your savings here.
Configure Parameters
Live Payoff Analysis
Years Shaved Off Term
--
Interest Paid w/ Extra
--
Total Interest Saved
--
Visual Projections
Amount
Interest
Values update automatically as inputs slide. Zero server logs.
Common Questions & Guidance
Frequently asked questions regarding Mortgage Payoff Calculator.
Does extra money pay down the principal?
Yes, when making extra payments on a mortgage, ensure you specify to your lender that the extra funds should be applied directly to the principal balance rather than prepaying next month's payment.
Is it smart to pay off a low-rate mortgage early?
If your mortgage rate is under 4%, you may earn more by investing extra funds in index funds yielding 7-10% long-term. If your rate is higher, early payoff offers a guaranteed rate of return equivalent to your APR.