Mortgage Payoff Calculator
Build a remaining-schedule sketch from your balance, rate, and either your regular P&I payment or remaining term. Add an optional monthly extra to compare payoff dates.
Remaining mortgage
Remaining balance ($)iUse your best current estimate; lender and account terms control. | |
|---|---|
APR (%)iUse your best current estimate; lender and account terms control. | |
Remaining term (months)iUse your best current estimate; lender and account terms control. | |
Regular P&I payment ($, optional)iUse your best current estimate; lender and account terms control. | |
Extra principal ($/month)iUse your best current estimate; lender and account terms control. |
How to use this calculator
- Enter the remaining principal and note rate.
- Use remaining months to estimate P&I, or enter your actual P&I payment instead.
- Add principal-only extra money and compare the two payoff paths.
Results explained
The headline is the payoff length with the extra contribution. The comparison uses your regular P&I payment and shows a calendar-month sketch relative to today; escrow, insurance, and taxes are not principal payments.
Quick reference: remaining mortgage payoff
This page is about the whole remaining schedule, rather than only the dollars saved by extras.
| Item | Detail |
|---|---|
| Regular P&I | Entered payment, or PMT from balance and remaining term |
| No-extra payoff | Simulation using regular P&I |
| Extra payoff | Simulation using P&I plus monthly principal |
This is not an amortization statement or a payoff quote; daily interest and payment-date timing can differ.
How it’s built
Each month, interest equals the current balance times APR/12. The payment first covers interest and the rest reduces principal.
Example
A $298,000 balance at 6.5% with 27 years remaining and $250 extra each month can move the modeled mortgage-free date meaningfully earlier.
FAQ
Why is my payment field optional?
If you leave it at zero, the calculator derives P&I from balance, rate, and remaining term.
Should I include escrow?
No. Enter principal and interest only; escrow does not reduce loan balance.
Does a lump sum work the same way?
A lump sum changes timing. This tool uses a recurring monthly extra for a consistent schedule comparison.