Mortgage Payoff With Extra Payments Calculator
Same transparent payoff math as generic early payoff, framed for first-lien mortgages — balance, rate, P&I, and extras. Click any i for detail.
Mortgage
Balance ($)
i
Balance
Remaining principal. |
|
|---|---|
APR (%)
i
APR
Note rate on the mortgage. |
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Monthly P&I ($)
i
P&I
Required principal and interest. |
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Extra principal ($/mo)
i
Extra
Additional monthly principal. |
How to use this calculator
- Enter mortgage balance and P&I.
- Add monthly extra.
- Review interest saved and payoff time.
Results explained
Headline interest saved vs scheduled payments; subline compares mortgage-free dates.
Quick reference: mortgage extras
Escrow excluded.
| Item | Detail |
|---|---|
| Extras | Applied after interest |
| Escrow | Not in payment field |
PMI drop and ARM resets are not modeled.
How the estimate is built
Dual month-by-month payoff simulations with and without extra principal.
Example scenario
$250/mo extra on a $298k mortgage can shave years and tens of thousands in interest versus P&I alone.
FAQ
Should extras go to escrow?
Model principal only — not tax/insurance escrow.
One-time lump sums?
Use monthly equivalent or the generic early payoff tool mindset.
Recast vs extra?
Recasting lowers required payment; extras shorten term — different products.