Mortgage Payoff Calculator | Extra Payments & Schedule Export

Early Mortgage Payoff Calculator

Calculate how extra payments can shorten your mortgage term and save you thousands in interest

Loan Details

Loan Amount

Loan Term (years)

Interest Rate (%)

Monthly Payment (Principal & Interest)

This is calculated automatically. You can also enter your actual payment if different.

Quick Payoff Scenarios

Click to try different payoff strategies

Extra Payment Options

Extra Monthly Payment

Add an extra amount to each monthly payment

Extra Yearly Payment

Add an extra lump sum once per year

One-Time Extra Payment

Payment Date (optional)

Results

Calculating your mortgage payoff schedule...

Payoff Date

May 2053

Total Interest Paid

$247,220

Months to Payoff

360

Total Payment

$547,220

With Extra Payments You Save

$67,405

and pay off your loan 6 years 4 months early

Time Savings

With Extra Payments: 21 years

0 years 30 years

Interest Savings

Interest Saved: 27%

$0 Interest $247,220 Interest

Comparison

Metric	Without Extra Payments	With Extra Payments
Payoff Date	May 2053	Oct 2046
Total Interest	$247,220	$179,815
Months to Payoff	360	284

Amortization Schedule

View and export your detailed payment schedule

Month	Date	Payment	Principal	Interest	Extra Payment	Balance

Calculation completed successfully!

Frequently Asked Questions | Early Mortgage Payoff Calculator

What is an early mortgage payoff calculator?

An early mortgage payoff calculator is a free online tool that helps homeowners determine how much money and time they can save by making additional payments toward their mortgage principal. It calculates the impact of extra payments on your loan term and total interest paid over the life of the mortgage.

How does making extra mortgage payments save money?

Making extra mortgage payments reduces your principal balance faster, which decreases the amount of interest you pay over time. Since mortgage interest is calculated on the remaining principal, lowering this balance means less interest accrues each month, potentially saving you thousands of dollars and years off your loan term.

Do I need to sign in to use the early mortgage payoff calculator?

No, the early mortgage payoff calculator at ezcalc4u.com is completely free to use and requires no sign-in or registration. You can access the calculator immediately and perform unlimited calculations without creating an account.

What information do I need to use the Early mortgage payoff calculator?

To use the early mortgage payoff calculator, you typically need your current loan balance, interest rate, remaining loan term, monthly payment amount, and the extra payment amount you’re considering. This information can be found on your mortgage statement or loan documents.

Can I see how much interest I'll save with extra payments?

Yes, the early mortgage payoff calculator shows you the total interest savings when you make additional payments. It compares your current payment schedule with the accelerated payment plan, displaying exactly how much interest you’ll save and how many months or years you’ll cut from your mortgage term.

What types of extra payments can I calculate?

The Early Mortgage Payoff Calculator allows you to explore different extra payment scenarios, including adding a fixed amount to your monthly payment, making one-time lump sum payments, or making periodic extra payments such as annual or biweekly contributions toward your principal.

Is it better to pay extra on my mortgage or invest the money?

This depends on your mortgage interest rate, potential investment returns, and personal financial goals. The Early Mortgage Payoff Calculator helps you see the guaranteed savings from paying down your mortgage. If your mortgage rate is higher than expected investment returns, paying extra on your mortgage often makes sense. However, you should also consider your emergency fund, retirement savings, and other financial priorities.

Will my lender charge penalties for paying off my mortgage early?

Most modern mortgages in the United States do not have prepayment penalties, but some loans do. Check your mortgage documents or contact your lender to confirm whether your loan has prepayment penalties before making extra payments. The calculator shows potential savings, but these would be reduced if penalties apply.

How often should I make extra mortgage payments?

You can make extra payments as frequently as your budget allows. Whether monthly, quarterly, annually, or as one-time payments, any additional amount toward principal reduces your loan balance and saves interest. The Early Mortgage Payoff Calculator can help you compare different payment frequency scenarios to find what works best for your financial situation.

Does the Early Mortgage Payoff Calculator account for taxes and insurance?

The early mortgage payoff calculator focuses on your loan principal and interest. Property taxes and homeowners insurance typically don’t change based on your payoff schedule, so they’re usually not included in the calculation. The calculator helps you see the impact of extra payments on your actual mortgage debt.