Mortgage Payoff Calculator
Model mortgage payoff timeline and total interest with optional extra monthly payments.
Loan amount
$400,000.00
Base monthly payment
$2,398.20
Payoff months
360
Total interest
$463,352.76
Total paid
$863,352.76
Scenario Compare
Save up to 4 mortgage payoff scenarios.
No scenarios saved yet.
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $2,398.20 | $398.20 | $2,000.00 | $399,601.80 |
| 2 | $2,398.20 | $400.19 | $1,998.01 | $399,201.60 |
| 3 | $2,398.20 | $402.19 | $1,996.01 | $398,799.41 |
| 4 | $2,398.20 | $404.21 | $1,994.00 | $398,395.21 |
| 5 | $2,398.20 | $406.23 | $1,991.98 | $397,988.98 |
| 6 | $2,398.20 | $408.26 | $1,989.94 | $397,580.72 |
| 7 | $2,398.20 | $410.30 | $1,987.90 | $397,170.42 |
| 8 | $2,398.20 | $412.35 | $1,985.85 | $396,758.07 |
| 9 | $2,398.20 | $414.41 | $1,983.79 | $396,343.66 |
| 10 | $2,398.20 | $416.48 | $1,981.72 | $395,927.18 |
| 11 | $2,398.20 | $418.57 | $1,979.64 | $395,508.61 |
| 12 | $2,398.20 | $420.66 | $1,977.54 | $395,087.95 |
| 13 | $2,398.20 | $422.76 | $1,975.44 | $394,665.19 |
| 14 | $2,398.20 | $424.88 | $1,973.33 | $394,240.31 |
| 15 | $2,398.20 | $427.00 | $1,971.20 | $393,813.31 |
| 16 | $2,398.20 | $429.14 | $1,969.07 | $393,384.18 |
| 17 | $2,398.20 | $431.28 | $1,966.92 | $392,952.90 |
| 18 | $2,398.20 | $433.44 | $1,964.76 | $392,519.46 |
| 19 | $2,398.20 | $435.60 | $1,962.60 | $392,083.85 |
| 20 | $2,398.20 | $437.78 | $1,960.42 | $391,646.07 |
| 21 | $2,398.20 | $439.97 | $1,958.23 | $391,206.10 |
| 22 | $2,398.20 | $442.17 | $1,956.03 | $390,763.93 |
| 23 | $2,398.20 | $444.38 | $1,953.82 | $390,319.55 |
| 24 | $2,398.20 | $446.60 | $1,951.60 | $389,872.94 |
| 25 | $2,398.20 | $448.84 | $1,949.36 | $389,424.10 |
| 26 | $2,398.20 | $451.08 | $1,947.12 | $388,973.02 |
| 27 | $2,398.20 | $453.34 | $1,944.87 | $388,519.69 |
| 28 | $2,398.20 | $455.60 | $1,942.60 | $388,064.08 |
| 29 | $2,398.20 | $457.88 | $1,940.32 | $387,606.20 |
| 30 | $2,398.20 | $460.17 | $1,938.03 | $387,146.03 |
| 31 | $2,398.20 | $462.47 | $1,935.73 | $386,683.56 |
| 32 | $2,398.20 | $464.78 | $1,933.42 | $386,218.77 |
| 33 | $2,398.20 | $467.11 | $1,931.09 | $385,751.67 |
| 34 | $2,398.20 | $469.44 | $1,928.76 | $385,282.22 |
| 35 | $2,398.20 | $471.79 | $1,926.41 | $384,810.43 |
| 36 | $2,398.20 | $474.15 | $1,924.05 | $384,336.28 |
| 37 | $2,398.20 | $476.52 | $1,921.68 | $383,859.76 |
| 38 | $2,398.20 | $478.90 | $1,919.30 | $383,380.86 |
| 39 | $2,398.20 | $481.30 | $1,916.90 | $382,899.56 |
| 40 | $2,398.20 | $483.70 | $1,914.50 | $382,415.85 |
| 41 | $2,398.20 | $486.12 | $1,912.08 | $381,929.73 |
| 42 | $2,398.20 | $488.55 | $1,909.65 | $381,441.18 |
| 43 | $2,398.20 | $491.00 | $1,907.21 | $380,950.18 |
| 44 | $2,398.20 | $493.45 | $1,904.75 | $380,456.73 |
| 45 | $2,398.20 | $495.92 | $1,902.28 | $379,960.81 |
| 46 | $2,398.20 | $498.40 | $1,899.80 | $379,462.41 |
| 47 | $2,398.20 | $500.89 | $1,897.31 | $378,961.52 |
| 48 | $2,398.20 | $503.39 | $1,894.81 | $378,458.13 |
| 49 | $2,398.20 | $505.91 | $1,892.29 | $377,952.22 |
| 50 | $2,398.20 | $508.44 | $1,889.76 | $377,443.78 |
| 51 | $2,398.20 | $510.98 | $1,887.22 | $376,932.79 |
| 52 | $2,398.20 | $513.54 | $1,884.66 | $376,419.26 |
| 53 | $2,398.20 | $516.11 | $1,882.10 | $375,903.15 |
| 54 | $2,398.20 | $518.69 | $1,879.52 | $375,384.46 |
| 55 | $2,398.20 | $521.28 | $1,876.92 | $374,863.18 |
| 56 | $2,398.20 | $523.89 | $1,874.32 | $374,339.30 |
| 57 | $2,398.20 | $526.51 | $1,871.70 | $373,812.79 |
| 58 | $2,398.20 | $529.14 | $1,869.06 | $373,283.65 |
| 59 | $2,398.20 | $531.78 | $1,866.42 | $372,751.87 |
| 60 | $2,398.20 | $534.44 | $1,863.76 | $372,217.43 |
| 61 | $2,398.20 | $537.11 | $1,861.09 | $371,680.31 |
| 62 | $2,398.20 | $539.80 | $1,858.40 | $371,140.51 |
| 63 | $2,398.20 | $542.50 | $1,855.70 | $370,598.01 |
| 64 | $2,398.20 | $545.21 | $1,852.99 | $370,052.80 |
| 65 | $2,398.20 | $547.94 | $1,850.26 | $369,504.86 |
| 66 | $2,398.20 | $550.68 | $1,847.52 | $368,954.18 |
| 67 | $2,398.20 | $553.43 | $1,844.77 | $368,400.75 |
| 68 | $2,398.20 | $556.20 | $1,842.00 | $367,844.55 |
| 69 | $2,398.20 | $558.98 | $1,839.22 | $367,285.58 |
| 70 | $2,398.20 | $561.77 | $1,836.43 | $366,723.80 |
| 71 | $2,398.20 | $564.58 | $1,833.62 | $366,159.22 |
| 72 | $2,398.20 | $567.41 | $1,830.80 | $365,591.81 |
| 73 | $2,398.20 | $570.24 | $1,827.96 | $365,021.57 |
| 74 | $2,398.20 | $573.09 | $1,825.11 | $364,448.47 |
| 75 | $2,398.20 | $575.96 | $1,822.24 | $363,872.52 |
| 76 | $2,398.20 | $578.84 | $1,819.36 | $363,293.68 |
| 77 | $2,398.20 | $581.73 | $1,816.47 | $362,711.94 |
| 78 | $2,398.20 | $584.64 | $1,813.56 | $362,127.30 |
| 79 | $2,398.20 | $587.57 | $1,810.64 | $361,539.73 |
| 80 | $2,398.20 | $590.50 | $1,807.70 | $360,949.23 |
| 81 | $2,398.20 | $593.46 | $1,804.75 | $360,355.77 |
| 82 | $2,398.20 | $596.42 | $1,801.78 | $359,759.35 |
| 83 | $2,398.20 | $599.41 | $1,798.80 | $359,159.95 |
| 84 | $2,398.20 | $602.40 | $1,795.80 | $358,557.54 |
| 85 | $2,398.20 | $605.41 | $1,792.79 | $357,952.13 |
| 86 | $2,398.20 | $608.44 | $1,789.76 | $357,343.69 |
| 87 | $2,398.20 | $611.48 | $1,786.72 | $356,732.20 |
| 88 | $2,398.20 | $614.54 | $1,783.66 | $356,117.66 |
| 89 | $2,398.20 | $617.61 | $1,780.59 | $355,500.05 |
| 90 | $2,398.20 | $620.70 | $1,777.50 | $354,879.35 |
| 91 | $2,398.20 | $623.81 | $1,774.40 | $354,255.54 |
| 92 | $2,398.20 | $626.92 | $1,771.28 | $353,628.62 |
| 93 | $2,398.20 | $630.06 | $1,768.14 | $352,998.56 |
| 94 | $2,398.20 | $633.21 | $1,764.99 | $352,365.35 |
| 95 | $2,398.20 | $636.38 | $1,761.83 | $351,728.97 |
| 96 | $2,398.20 | $639.56 | $1,758.64 | $351,089.42 |
| 97 | $2,398.20 | $642.76 | $1,755.45 | $350,446.66 |
| 98 | $2,398.20 | $645.97 | $1,752.23 | $349,800.69 |
| 99 | $2,398.20 | $649.20 | $1,749.00 | $349,151.49 |
| 100 | $2,398.20 | $652.44 | $1,745.76 | $348,499.05 |
| 101 | $2,398.20 | $655.71 | $1,742.50 | $347,843.34 |
| 102 | $2,398.20 | $658.99 | $1,739.22 | $347,184.36 |
| 103 | $2,398.20 | $662.28 | $1,735.92 | $346,522.08 |
| 104 | $2,398.20 | $665.59 | $1,732.61 | $345,856.49 |
| 105 | $2,398.20 | $668.92 | $1,729.28 | $345,187.57 |
| 106 | $2,398.20 | $672.26 | $1,725.94 | $344,515.30 |
| 107 | $2,398.20 | $675.63 | $1,722.58 | $343,839.68 |
| 108 | $2,398.20 | $679.00 | $1,719.20 | $343,160.67 |
| 109 | $2,398.20 | $682.40 | $1,715.80 | $342,478.27 |
| 110 | $2,398.20 | $685.81 | $1,712.39 | $341,792.46 |
| 111 | $2,398.20 | $689.24 | $1,708.96 | $341,103.22 |
| 112 | $2,398.20 | $692.69 | $1,705.52 | $340,410.54 |
| 113 | $2,398.20 | $696.15 | $1,702.05 | $339,714.39 |
| 114 | $2,398.20 | $699.63 | $1,698.57 | $339,014.76 |
| 115 | $2,398.20 | $703.13 | $1,695.07 | $338,311.63 |
| 116 | $2,398.20 | $706.64 | $1,691.56 | $337,604.98 |
| 117 | $2,398.20 | $710.18 | $1,688.02 | $336,894.81 |
| 118 | $2,398.20 | $713.73 | $1,684.47 | $336,181.08 |
| 119 | $2,398.20 | $717.30 | $1,680.91 | $335,463.78 |
| 120 | $2,398.20 | $720.88 | $1,677.32 | $334,742.90 |
Insights
Generate a concise interpretation of your inputs and outputs. This is educational and hypothetical.
What It Is
The mortgage payoff calculator estimates how quickly a home loan can be paid off under your current assumptions. It includes home price, down payment, rate, term, and optional extra monthly payment.
This tool is useful for comparing baseline repayment against accelerated payoff strategies. It helps answer how much interest might be saved with consistent extra principal payments.
How It Works
The loan balance is amortized month by month. Each payment is split into interest and principal based on remaining balance and monthly interest rate.
If an extra monthly payment is entered, it is added to principal reduction each month. The schedule stops when balance reaches zero.
Formula
Base monthly mortgage payment uses the standard amortization formula M = P*r/(1-(1+r)^-n), where P is loan amount, r is monthly rate, and n is number of months.
With extra payment, the actual payment per month is base payment + extra payment, capped when final balance is near zero.
Example
A $500,000 home with $100,000 down creates a $400,000 loan. At 6% over 30 years, adding extra principal each month can reduce both payoff time and total interest.
Use this model to evaluate affordability, debt reduction speed, and trade-offs between mortgage prepayment and investing surplus cash elsewhere.
Frequently Asked Questions
Does this include taxes or insurance?
No. It models principal and interest only.
Is extra payment always beneficial?
It lowers interest and payoff time, but opportunity cost should be considered.
Can rates change during the loan?
This version assumes a fixed-rate mortgage over the selected term.