Mortgage Payoff Calculator
Be mortgage-free years earlier.
See exactly how extra principal, biweekly payments, and annual lump sums shave years off your loan and save you tens of thousands in interest. 100% free.
Your loan
Payoff strategy
Stack any of these — each one shaves real years off your loan.
Payoff comparison
Interest saved
$54,402
3y 8mo earlier than scheduled
Monthly payment
$2,270
Payoff date
Nov 2044
Total interest (planned)
$233,871
Health
29 · Slow
You'll be mortgage-free 3y 8mo earlier.
Your extra payments save $54,402 in interest and finish the loan on Nov 2044.
Try switching to biweekly payments to add another full payment per year, almost invisibly.
Scheduled vs. your plan
| Payoff (scheduled) | 22y 1mo |
| Payoff (your plan) | 18y 5mo |
| Interest (scheduled) | $288,273 |
| Interest (your plan) | $233,871 |
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Compare every payoff strategy side-by-side.
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Frequently asked questions
Should I pay off my mortgage early or invest the extra money?
If your mortgage rate is meaningfully lower than expected long-term investment returns (e.g. 3% mortgage vs. 7% S&P 500), investing usually wins on paper. But early payoff is a guaranteed, tax-free return equal to your rate — and the emotional freedom of being mortgage-free is real. Many people split the difference.
How does an extra $100/month really change a 30-year mortgage?
On a $350,000 loan at 6.75%, adding $100/month in extra principal can shave 4+ years off the loan and save you $60,000+ in interest. The earlier in the loan you start, the more dramatic the impact.
What are biweekly payments and do they actually work?
Instead of 12 monthly payments per year, you pay half your monthly amount every two weeks — which works out to 26 half-payments = 13 full monthly payments per year. That one extra payment goes 100% to principal and typically saves 4–6 years on a 30-year loan.
Will my lender penalize me for paying extra principal?
Almost no modern U.S. mortgages have prepayment penalties — but check your loan documents. When sending extra, label it 'apply to principal' so it doesn't get banked as advance interest.
Is the Mortgage Payoff Calculator free?
Yes — the calculator, payoff comparison, and personalized coaching are completely free. Premium unlocks saving multiple mortgage scenarios, refinance comparisons, a full amortization table export, and an annual savings PDF report.
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