Home

Help

How much additional would you need to pay each month to pay off a home mortgage in a certain number of years and months? Run this calculator to find out your mortgage early payoff time. Enter your mortgage balance, the principal and interest amount of your current monthly payment, the interest rate, and the desired number of years and months to pay off the home and this Mortgage Early Payoff calculator will show you how much additional you must pay each month to meet that payoff time. It also shows how much time and money you will save by paying off the mortgage early vs. paying as scheduled.

Input Fields:
Title A title for these calculator results that will help you identify it if you have printed out several versions of the calculator.
Lender The name of your potential lender. This field is not required but may help if you have printed out several loan scenarios.
Mortgage Balance The amount you owe on your mortgage or loan.
Current Payment P&I The amount of principal + interest you are currently required to pay each month toward this loan.
Interest Rate The annual percentage rate you will pay for this loan.
Desired Payoff Time Enter the desired number of years and/or months when the balance should be paid.

Output Fields:
Additional Each Month The additional amount you will pay each month (over the required 'Monthly Payment' amount) to pay down the principal on your loan.
Total Monthly Payment Total monthly principal and interest payment required to pay the mortgage by the requested 'Payoff Time'. Actual payment could include other amounts such as escrow for insurance and property taxes, private mortgage insurance (PMI), fees, and dues.
Total Interest The remaining total amount of interest you will pay over 'Payoff Time'.
Total Paid The remaining total amount of principal + interest you will pay over 'Payoff Time'.
Actual Payoff Time Amount of time until the loan is paid off.
Number of Payments The number of payments you will make to pay off the loan.
Annual Cost The amount of money you will pay each year for this loan.

Buttons and Checkboxes:
Show Amortization When checked, a section will appear below the calculator showing the complete amortization table.
Help Brings up this Help window.
Clear Clear (Use your browser's 'Refresh' or 'Reset' to restore default values.)
Printer Friendly Print Ready Format
Show Formulas Show Calculation Formulas
Related Calculators Related Calculators
Show Additional Fields Show Additional Fields
Hide Additional Fields Hide Additional Fields
All calculators are made available as self-help tools for your independent use with results based on information provided by the user. All examples are hypothetical and are for illustrative purposes only. Calculated results are believed to be accurate but results are not guaranteed. Mortgage calculator results are based upon conventional program guidelines. Other loan programs are available. Further review by a professional is necessary to obtain exact and complete information and available options for your personal circumstances.
Presented by WebCalcSolutions.com and BizCalcs.com.
Copyright © 2005-2025 PeteSoft, LLC. All rights reserved.
Updated 04 Jul 2007