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Extra Payments and Payoff-Date Goals Calculator

Choose the month you want your mortgage paid off, or try extra monthly money, a lump sum and yearly payments. See the interest you could avoid, then save a plan to check your progress.

Extra Payments & Payoff-Date Goals

When do you want your mortgage paid off?

A payoff-date goal finds the monthly extra you would need on top of your normal loan payment and the other extras you enter. Interest saved is a future cost you could avoid; it is not cash received today or a lower required payment.

Your numbersYour loan typeWhat would you like to find out?

What you still owe ($)

This is the loan balance today, not the amount you borrowed years ago. Do not use the payoff quote, which can include unpaid interest and fees.

Find “principal balance” on your statement.

Your fixed interest rate (%)

Find the interest rate on your mortgage statement. Use the interest rate, not APR. This tool cannot predict adjustable rates.

For 6.5%, type 6.5.

Scheduled payments left (months)

Use the number of monthly payments remaining if you pay as usual. Ten years left means 10 × 12 = 120. If past extra payments changed your payoff, enter the statement payment below.

Years left × 12.

Statement loan-only payment ($)

Find the principal and interest parts of your monthly bill and add them. Leave out taxes, homeowners insurance, mortgage insurance and HOA. Leave blank to estimate from balance, rate and months left.

Optional: principal + interest only.

Extra principal each month ($)

Example: your required loan-only payment is $1,500. Paying $1,600 means $100 extra. Tell the servicer to apply extra money to principal. A payoff-date goal calculates this amount for you.

Money above your required payment.

First payment month for this plan

We count payments at the end of each chosen month. Dates are estimates.

Month you want the loan paid off

We count payments at the end of each chosen month. Dates are estimates.

Get a more accurate estimate: add a lump sum, yearly payments or later extras

One-time extra payment ($)

This is money you plan to pay once toward the first mortgage balance, in the numbered month below. It is not a recurring amount.

Example: a $5,000 lump sum.

When to make that payment (month number)

Count from the plan start: month 1 is the first payment, month 12 is the twelfth payment. Nothing is applied if the loan is already paid off.

1 means the first payment month.

Extra payment once each year ($)

Example: pay a $1,000 bonus once every 12 months. This is in addition to monthly extras and any one-time payment. Do not enter the same money twice.

Use zero if you have no annual payment.

First annual payment (month number)

If you choose 12, the annual extra happens at plan months 12, 24, 36 and so on. These are plan months, not January through December.

Choose 1 to 12; repeats every 12 months.

Additional monthly extra starting later ($)

This is added to the extra monthly amount above. If you already pay $100 extra and enter $50 here, the later extra becomes $150 total each month.

Example: $50 more after a raise.

Start that additional extra (month number)

The additional monthly extra starts in this numbered plan month and continues until payoff. A zero amount means this option has no effect.

Example: 13 means after the first year.

Not sure how many payments are left?

Original loan lengthScheduled monthly payments already made

This shortcut assumes no term changes. If earlier extra payments changed your payoff, use your statement’s loan-only payment.

Calculating stays in this browser. Nothing is sent or saved until you choose to save the plan in your private account.

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Ready when you are.

Enter your numbers to see a plain-English comparison.

Educational fixed-rate estimate. Taxes, insurance, HOA, tax effects, investment returns, late fees and prepayment penalties are excluded. Ask your servicer to apply extra money to principal and check any early-payment fee. AI answers and live notifications are not connected.

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Want to compare refinancing instead? Use the refinance calculator →