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MORTGAGE PAYOFF CALCULATOR

Use your current principal balance, interest rate and remaining term to estimate the scheduled payoff date. Then test monthly, annual or one-time extra principal payments to see how the timeline and projected interest may change.

Shopping for a home rather than paying down an existing loan? Use the Mortgage Payment Calculator or estimate a price from your budget with the Mortgage Budget Calculator.

Scope: Editable values are examples, not current mortgage rates. This calculator models a fixed-rate, fully amortizing loan and principal-and-interest payments only. It excludes escrow, taxes, insurance, fees, adjustable rates, delinquency, recasting and prepayment penalties.
Use the unpaid principal balance from your latest statement.
Enter the note rate—not APR including fees.

Enter your values, then select Calculate Mortgage Payoff. Confirm with your servicer that extra amounts will be applied to principal.

Estimated Payoff Comparison

Current Schedule

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Extra-Payment Strategy

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Scheduled Monthly Principal & Interest—
Current Schedule Interest—
Strategy Interest—
Estimated Time Saved—
Estimated Interest Saved—
Total Strategy Payments—

This is an amortization estimate, not a payoff quote. A lender payoff amount may include accrued interest through a specified date, fees, or other charges not reflected here.

Mortgage Amortization Schedule

How the Mortgage Payoff Estimate Works

The current schedule uses the remaining principal, fixed annual rate and remaining number of monthly payments to calculate a standard principal-and-interest payment. The strategy projection applies any one-time payment immediately, adds the selected monthly extra amount, and applies the annual extra amount in the chosen month.

Payoff Amount Versus Principal Balance

Your unpaid principal balance is not necessarily the amount required to close the loan on a particular day. A formal payoff quote may include interest accrued through the payoff date and other permitted charges. Request the exact amount from your servicer before sending a final payment.

Before Sending Extra Principal

  • Check the note and any addendum for a prepayment penalty.
  • Tell the servicer to apply the extra amount to principal and verify it on the next statement.
  • Keep enough liquidity for other obligations and unexpected expenses.

Official Consumer Information

💡 Practical Payoff Checks

📄 Use the Principal Balance

Do not enter a payment amount that includes property tax, insurance or HOA fees as the loan balance. The calculator models principal and interest only.

✍️ Mark Extra Funds as Principal

Payment handling differs by servicer. Confirm how to designate an extra payment and review the next statement to make sure principal fell as expected.