Mortgage Payoff Calculator

Add a fixed amount to every mortgage payment and see how many years — and how much interest — you save.

Your details

Loan balance$Interest rate%Remaining termExtra monthly payment$Added to principal every month.

Interest saved

$91,173.43

Years saved: 6.75
Payoff in (months): 279
New monthly payment: $1,998.65

Interest saved

Interest (with extra): $256,341.1374%
Interest saved: $91,173.4326%

Interest saved$91,173.43

Formula

The extra amount is applied to principal each month, so the balance amortizes faster and the payoff date moves up.

Sources & methodology

•CFPB — mortgage basics — CFPB

Last updated: 2026-07-20

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