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Mortgage Payoff Calculator

Read the original mortgage payoff calculator guidance with clear warnings and links to current official information.

1

Enter a scenarioUse your own estimates and time period

2

See the resultUpdates immediately as numbers change

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Read the assumptionsKnow what is and is not included

Interactive calculator

Add your numbers

Estimate how a regular extra payment could change mortgage payoff time and interest.

Planning estimate

Estimated time saved

65 months
Scheduled payment
$1,473.81
New payoff time
235 months
Estimated interest saved
$50,284

Assumptions: Assumes a fixed rate, no prepayment penalty and that every extra payment reduces principal immediately.

Migrated from the original site

Original guidance, with a current-information warning.

Time-sensitive
Some details in this legacy article may no longer be current

Dates, dollar amounts, eligibility rules, rates and named programmes should be checked against the current official sources below before you act.

Read the migrated legacy article

How much interest can you save by increasing your mortgage payment? This mortgage payoff calculator helps you find out. Click the "View Report" button to see a complete amortization payment schedule, and how much you can save on your mortgage!

Definitions

Annual interest rate (APR)
The yearly cost of a mortgage, including interest, mortgage insurance, and the origination fee (point(s)), expressed as a percentage. Maximum APR is 20%.

Mortgage length (years)
Total length, or term, of your original mortgage in years. Most common lengths are 30 years and 15 years.

Original mortgage amount
The original amount financed with your mortgage. Not to be confused with the remaining balance or principal balance.

Additional monthly payment
Your proposed extra payment per month. This payment will be used to reduce your principal balance.

Scheduled payment
Monthly principal and interest payment (PI) based on your original mortgage amount, term and interest rate.

Accelerated payment
Scheduled payment plus additional monthly payment.

Total savings
Total amount you would save in interest if you made the accelerated payment until your mortgage was paid in full.
Check current information

Migrated 2026-08-14 · 178 words retained · Prohibited branding and links removed

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