Mortgage Payoff Calculator

See how extra monthly payments shorten a mortgage and cut interest.

Mortgage Payoff Calculator helps you see how extra monthly payments shorten a mortgage and cut interest. Enter current balance, annual rate, current payment, and extra monthly, review the breakdown, and use the guidance below to understand what the number means — and what it does not. What the Mortgage Payoff calculator does Mortgage Payoff Calculator is built for money decisions — loans, savings, payments, and taxes. See how extra monthly payments shorten a mortgage and cut interest. You enter current balance, annual rate, current payment, and extra monthly, then Simple Calculators computes the result instantly. Rates, fees, and tax rules vary by lender and country, so treat results as planning numbers, not a contract. How the math works Enter your Current balance, Annual rate, Current payment and Extra monthly amount. The calculator works month by month: interest = balance × (annual rate ÷ 12), and whatever is left of the payment lowers the balance. It runs this twice, once with your normal payment and once with the extra added, then compares the results. It ignores taxes, insurance and escrow, so enter only the principal-and-interest part of your payment. The formula: Each month…