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Calculators/Real Estate & Mortgages
Mortgage Payoff Calculator — Extra Payment Savings
Calculate how much interest you save and how many years you cut off your mortgage by making extra monthly payments. See your new payoff date and total savings.
$
%
yrs
$
Interest Saved
$64,927.88
Payoff In
19y 6m
Time Saved
5y 6m
Std Payment
$1,688.02
How to Use This Calculator
1
Enter your current loan details
Remaining balance, interest rate, and years left on your loan. Find these on your most recent mortgage statement.
2
Set your extra payment amount
Even $100–$200 extra per month can shave years off a 30-year mortgage and save tens of thousands in interest.
3
See your savings
The calculator shows total interest saved and how many months/years you knock off your loan term.
Real-World Examples
$250K at 6.5% — $200 Extra
Balance
$250,000
Rate
6.5%
Extra
$200/mo
ResultSave ~$47K, payoff 5 years early
An extra $200/month on a standard 25-year remaining term saves tens of thousands in interest.
$400K at 7% — $500 Extra
Balance
$400,000
Rate
7%
Extra
$500/mo
ResultSave ~$100K+ in interest
On larger mortgages with higher rates, extra payments have an outsized compounding effect.
Frequently Asked Questions
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