Example: Current balance: $380,000 · Interest rate: 6.25% · Current monthly payment (P&I): $2,600 · Extra monthly payment: $300 → Payoff time with extra payment: 18 years, 5 months.
Payoff time currently: 23 years
Time saved: 4 years, 7 months
Interest saved: $76,401
Frequently asked questions
How do I calculate mortgage payoff? Enter your numbers above and the result updates instantly. For example: Current balance: $380,000 · Interest rate: 6.25% · Current monthly payment (P&I): $2,600 · Extra monthly payment: $300 → Payoff time with extra payment: 18 years, 5 months.
Is this Mortgage Payoff Calculator free? Yes — completely free with no sign-up or paywall. It runs entirely in your browser and keeps working offline; the numbers you enter never leave your device.
How accurate is it? It uses the standard published formula for mortgage payoff. Results are estimates for planning — not financial, tax, medical, engineering, or legal advice.