Mortgage Payoff Calculator
Find the date your mortgage is paid off. Then try an extra monthly payment, a lump sum, biweekly payments, or a date you want to be done by.
Private by design. Your numbers stay on this device.
Educational estimates only. Not financial, tax, or lending advice.
Updated
How long until my mortgage is paid off?
Your payoff date is the date of the last payment that brings the balance to zero. In the example below, a $250,000 balance at 6.5% with 25 years left needs a $1,688.02 payment and ends in 25 years, with $256,405 of interest still to pay.
An extra $250 a month ends it 6 years 5 months sooner and saves $75,978. To be done in 15 years, the same loan needs $489.75 more each month.
When your mortgage is paid off
Payoff date now
Dec 01, 2050
25 years of $1,688.02 payments, $256,405 of interest.
Fastest option
Dec 01, 2040
Needed to hit your date: 10 years sooner.
Interest saved
$114,407
With needed to hit your date.
Extra needed for your date
$489.75
More each month, on top of your payment.
Anyone with this link sees these numbers. They sit in the link after the #, which browsers never send to a server, so sharing it transmits nothing to this site or anyone else’s. Nothing goes into a link until you click Share.
For a closer look at one extra-payment plan and its full schedule, use the extra payment calculator.
Side by side
| Plan | Paid off | Time left | Months saved | Total interest | Interest saved |
|---|---|---|---|---|---|
| Current plan$1,688.02 a month, no extra | Dec 01, 2050 | 25 years | 0 | $256,405 | $0 |
| Extra every month$250.00 more each month | Jul 01, 2044 | 18 years 7 months | 77 | $180,427 | $75,978 |
| Lump sum$10,000.00 once | Sep 01, 2048 | 22 years 9 months | 27 | $219,658 | $36,747 |
| Extra monthly and lump sum$250.00 a month plus $10,000.00 once | Feb 01, 2043 | 17 years 2 months | 94 | $158,762 | $97,642 |
| Biweekly paymentsHalf your payment every two weeks: 13 payments a year, about $140.67 extra a month | Oct 01, 2046 | 20 years 10 months | 50 | $206,677 | $49,728 |
| Needed to hit your date$489.75 more each month | Dec 01, 2040 | 15 years | 120 | $141,998 | $114,407 |
Biweekly is modelled as one extra monthly payment a year, spread over twelve months. A servicer that holds each half payment until the full one is complete will save less. Ask yours before you sign up.
Balance over time
- Current plan
- Needed to hit your date
How the payoff date is worked out
Every plan is the same loan with a different amount of extra principal.
The calculator takes your balance and rate, and either the time left or your principal and interest payment. If you give the time left it works out the payment the loan needs. If you give the payment it works out how long that payment takes. Then it runs the loan month by month. Each month charges interest on the balance, takes the payment, and applies any extra to principal. The payoff date is the month the balance reaches zero.
| Plan | Time to payoff | Months saved | Interest saved |
|---|---|---|---|
| Current plan | 25 years | 0 | $0 |
| Extra every month | 18 years 7 months | 77 | $75,978 |
| Lump sum | 22 years 9 months | 27 | $36,747 |
| Extra monthly and lump sum | 17 years 2 months | 94 | $97,642 |
| Biweekly payments | 20 years 10 months | 50 | $49,728 |
| Needed to hit your date | 15 years | 120 | $114,407 |
A made-up loan: $250,000 left at 6.5% with 25 years to go, a $1,688.02 payment, $250 extra a month, a $10,000 lump sum paid with the next payment, and a 15 years target.
Only principal and interest are counted. Property tax and insurance in your escrow payment do not pay down the loan, so leave them out when you enter a payment.
What biweekly payments really do
Thirteen payments a year instead of twelve.
Paying half your payment every two weeks means 26 half payments a year. That is the same as 13 full payments. The extra one is the whole effect, so this calculator treats biweekly as one additional monthly payment a year, spread over twelve months. On the example that is $140.67 more each month. It ends the loan 4 years 2 months early and saves $49,728.
Compare that with the $75,978 saved by an extra $250 a month. Both come from the same place: more principal paid sooner. You can get the biweekly result without a program by adding one-twelfth of your payment to each month. Some servicers charge a setup or per-payment fee for a biweekly plan, and some hold half payments until the full amount is in, which gives up part of the benefit. Ask yours before enrolling.
Paying it off by a date
Pick the date. The calculator finds the extra amount.
Type a date under “I want to be done by” and the calculator searches for the smallest extra monthly amount that clears the balance by then. In the example, ending the loan in 15 years instead of 25 years takes $489.75 more each month. That figure covers the monthly extra alone. A lump sum you enter appears in its own row and does not reduce it. If your current payment already finishes by the date you pick, the answer is $0.
A lump sum is worth more the sooner it lands. In the example, $10,000 paid with the next payment saves $36,747. Together with the monthly extra it ends the loan 7 years 10 months early.
Mortgage payoff with a one-time payment
A lump sum shortens the loan. Your payment stays the same.
A one-time payment goes straight to principal, so every later month charges interest on a smaller balance. In the example, $10,000 paid with the next payment ends the loan 2 years 3 months early and saves $36,747. To see how the extra principal changes each month’s split, read how an amortization schedule works.
If you’d rather keep the end date and lower the payment, ask your servicer about a recast. The mortgage recast calculator compares the two, and recast vs extra payments walks through when each one wins. Before you send a large payment, check your note for a prepayment penalty, which the Consumer Financial Protection Bureau explains, and ask the servicer to apply the money to principal.
Payoff calculator vs extra payment calculator
Same math, different question.
This page starts from the date: when am I done, and what gets me there sooner. The extra payment calculator starts from the extra payment and models it against your full mortgage, including escrow and a planned stay. To see the whole payment schedule for either plan, open the amortization calculator.
Before sending extra money, check that you can afford it and that your servicer applies it to principal. The invest vs extra payments calculator compares paying down the loan with investing the same money.
Mortgage payoff questions
- How do I find my mortgage payoff date?
- Enter your current balance, your rate and either the time left or your monthly principal and interest payment. The calculator counts the payments until the balance reaches zero and shows the date of the last one. Your lender's statement is the final word.
- Is a biweekly mortgage payment better than a monthly one?
- The gain comes from the number of payments. Half a payment every two weeks is 26 half payments a year, which equals 13 full payments instead of 12. That one extra payment a year is what shortens the loan. You can get the same effect by adding one-twelfth of your payment to each monthly payment. Some servicers charge a fee for a biweekly plan or hold each half payment until the full one is complete, which cuts the benefit.
- How much extra do I need to pay to be done by a certain date?
- Type the date under "I want to be done by". The calculator searches for the smallest extra monthly amount that clears the balance by then and shows it to the cent. It solves for the monthly extra alone, so a lump sum you enter is not part of that number.
- Is a payoff quote the same as my balance?
- Not usually. A payoff quote from your servicer includes interest accrued up to the payoff date and may include fees, so it can differ from the balance on your last statement. Ask the servicer for a written quote before you send a final payment.
- How does a one-time payment change my mortgage payoff?
- It goes straight to principal, so the loan ends sooner while your monthly payment stays the same. In the calculator's example, $10,000 paid with the next payment ends the loan 2 years 3 months early and saves $36,747 in interest. If you want a lower payment instead, ask your servicer about a recast.
- Does a lump sum save more if I pay it sooner?
- Yes. A lump sum cuts the balance that interest is charged on from the month it arrives, so the same amount paid earlier avoids more months of interest. Use the lump sum date field to see the difference.
- Can paying off a mortgage early cost me a penalty?
- Many mortgages have no prepayment penalty, but some do. Check your note or ask your servicer before paying a large amount, and ask that extra money be applied to principal.