Finance tool
Mortgage Payoff Calculator
See how an extra monthly payment changes your payoff date, total interest, and the first payment's principal-versus-interest split.
Mortgage payoff assumptions
360 months to payoff
$289,516
Total interest$289,516
First payment: interest / principal$1,250 / $249
Extra-payment interest saved$86,189
Months saved93
Small extra payments can shorten a long mortgage
The calculator simulates each month rather than assuming a simple percentage reduction. That makes the interest saved and months saved explicit and easy to compare.
Your lender may apply additional payments differently or charge prepayment penalties. Confirm that extra money is applied to principal.
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