Mortgage Payoff Calculator

Set the date you want your mortgage gone by, and this calculator works backward to show the payment it takes to get there.

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How this is different from our Extra Payment Calculator

This calculator answers "I want this mortgage gone by a specific date — what payment does that take?" Our Extra Payment Calculator answers the reverse question — "if I add a specific extra amount every month, how much sooner am I done?" Same underlying math, opposite direction: pick this one when you have a deadline in mind, the other when you have a dollar amount in mind.

How the calculation works

The calculator finds the fixed monthly payment that brings your current balance to exactly zero by your target month — the standard loan formula, run against a shorter timeline than your original schedule. The gap between that number and what you're paying today is the extra you'd need to commit to.

Is an early payoff the right move?

If your mortgage rate is low, money put toward investing instead can often out-earn the interest you'd save — worth comparing against the Compound Interest Calculator.
If your rate is high, or the peace of mind of being debt-free matters more to you than the optimal math, an early payoff is a completely reasonable choice.
Check your loan for prepayment penalties before committing to an accelerated schedule — most conventional mortgages don't have them, but it's worth confirming.