Mortgage Payoff Calculator

Estimate mortgage payoff time, total interest and the effect of making extra monthly payments.

InputsChange a value to recalculate instantly

Remaining balance

Annual interest

Monthly payment

Extra monthly payment

ResultUpdates as you type

Payoff with extra16.4 years

Months saved41

Interest saved$34,578.76

How it worksTransparent math

Formulan=−ln(1−Pr/PMT)÷ln(1+r)

Compares standard and accelerated mortgage payoff using an additional monthly payment.

Result breakdownSee the important numbers together

1Payoff with extra16.4 years

2Months saved41

3Interest saved$34,578.76

λ DooMathWork with this calculation

Local · deterministic · optional

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Quick mathNatural-language-style shortcuts for deterministic arithmetic.

Calculator guide

How to use the Mortgage Payoff Calculator

Estimate mortgage payoff time, total interest and the effect of making extra monthly payments.

01Set inputsChoose values, units and assumptions.

02Apply the modeln = −ln(1−Pr/PMT) ÷ ln(1+r)

03Read the resultCheck the output against the assumptions before using it.

menu_book

Estimate mortgage payoff time, total interest and the effect of making extra monthly payments.

functions

n = −ln(1−Pr/PMT) ÷ ln(1+r)

fact_check

Review the inputs, units and assumptions before using the result for a real decision.