Early Mortgage Payoff Calculator
Would you like to pay off your mortgage earlier? This Mortgage Payoff Calculator estimates how paying extra each month, or biweekly, can accelerate the time to pay off your loan and how much interest you can save by doing so.
Every extra penny that you put toward your mortgage payment is removed from your principal balance. Whether it's a tax refund or extra yearly payment, see how you can accelerate your mortgage payoff.
Early Mortgage Payoff Calculator
Every extra penny that you put toward your mortgage payment is removed from your principal balance. Whether it's a tax refund or extra yearly payment, see how you can accelerate your mortgage payoff.
Monthly P & I payment:
:
Loan Original Payoff Date:
Loan New Payoff Date:
Original Total Interest:
New Total Interest:
Paying extra will save you and .
Amortization Comparison Table
The following amortization schedule compares the the interest paid versus principal paid in each payment and the remaining principal balance, over the life of your loan, compared to making extra payments.
Original Loan With Extra Payments
Payment Date Principal Interest Balance Principal Interest Balance

 

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Disclaimer

Loan and monthly payment buying scenarios used for informational purposes only and may not be specific to your situation. Rates expressed may not be available at this time. This document should not be construed as investment or mortgage advice or a commitment to lend. Your results may vary. There are no guarantees, promises, representations and/or assurances concerning the level of accuracy you may experience. For actual and current terms and rate information, please contact your lender directly. Please seek advice from a tax professional. Monthly expenses may or may not include condominium or HOA fees, if applicable; your payment may be greater.