Home · Free calculator

Pay off my mortgage early

Your new payoff date and interest saved with extra payments, a lump sum or every-two-weeks payments. No account needed.

Your numbers

Answer each Yes/No question, then fill in the amounts that appear. Use 0 only when an amount is truly zero. Want to see how it works first? Load example numbers below.

Is your mortgage a fixed-rate loan with the same payment every month?

Adjustable-rate (ARM), interest-only and reverse mortgages work differently. Check your loan papers for a prepayment penalty before paying extra.

YesNo

How much do you still owe on your mortgage? (dollars)

The principal balance on your latest statement, not a payoff quote. For example, 240,000.

What is the interest rate on your mortgage? (percent)

The yearly rate on your statement, not the APR. For example, 6.5.

Which do you know: the years left or the monthly payment?Either one is enough. Your statement shows both the payment and the maturity date.

How many years are left on the loan? (years)

For example, 25 for a 30-year loan you took out 5 years ago. Use a decimal for part of a year: 25.5 is 25 years and 6 months.

How do you want to pay the loan off faster?Not sure? Try each one: the answer shows the new payoff date and the interest you save, next to what happens if you change nothing.

How much extra will you pay each month? (dollars)

On top of the regular payment, all of it going to principal. For example, 200.

Do you pay private mortgage insurance (PMI) each month?

Conventional loans with less than 20% down usually charge PMI. We show when it ends on its own and when paying extra lets you ask to cancel it sooner. FHA mortgage insurance follows different rules: answer No.

YesNo

Your answer shows up here.

Answer the questions, then press Calculate.
Or load example numbers to see how it works.

Free · no sign-up needed

Assumptions, sources & limitations

Planning estimates only. Not a tax return, filing, payment, lending quote or personalized advice. Results depend on complete and accurate inputs. No guarantee of savings or penalty protection. Tax figures checked October 31, 2026; changes and special rules may apply. This initial release needs firm validation before client reliance.