Mortgage Payoff Calculator

If you know the remaining loan term

Use this calculator if the term length of the remaining loan is known and there is information on the original loan – good for new loans or preexisting loans that have never been supplemented with any external payments.

Original loan amount
Original loan termyears
Interest rate
Remaining term
years
months
Repayment options:

per month
per year
one time

 

Payoff in 17 years and 3 months

The remaining balance is $372,217.43. By paying extra $500.00 per month starting now, the loan will be paid off in 17 years and 3 months. It is 7 years and 9 months earlier. This results in savings of $122,306 in interest.

Interest savings
$122,306
Time savings
7 years and 9 months
Original: $463,353
With payoff: $341,047
pay 26% less on interest
Original: 25 yrs
With payoff: 17 yrs, 3 mos
Payoff 31% faster
 OriginalWith payoff
Monthly Pay$2,398.20$2,898.20
Total Payments$863,352.76$741,046.55
Total Interest$463,352.76$341,046.55
Remaining Payments$719,460.63$597,154.42
Remaining Interest$347,243.20$224,937.00
Payoff in25 yrs17 yrs, 3 mos

View Amortization Table

If you don't know the remaining loan term

Use this calculator if the term length of the remaining loan is not known. The unpaid principal balance, interest rate, and monthly payment values can be found in the monthly or quarterly mortgage statement.

Unpaid principal balance
Monthly payment
Interest rate
Repayment options:
per month
per year
one time

 

Payoff in 14 years and 4 months

The remaining term of the loan is 24 years and 4 months. By paying extra $500.00 per month starting now, the loan will be paid off in 14 years and 4 months. It is 10 years earlier. This results in savings of $94,554.73 in interest.

Interest savings
$94,555
Time savings
10 years
Original: $207,677
With payoff: $113,123
pay 46% less on interest
Original: 24 yrs, 4 mos
With payoff: 14 yrs, 4 mos
Payoff 41% faster
 OriginalWith payoff
Remaining term24 yrs, 4 mos14 yrs, 4 mos
Total Payments$437,677.36$343,122.63
Total Interest$207,677.36$113,122.63

View Amortization Table

0yr5yr10yr15yr19yr24yr$300.0K$200.0K$100.0K$0Old BalanceOld InterestNew BalanceNew Interest

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