About This Calculator

We built this early mortgage payoff calculator because we believe everyone deserves free, accurate tools to make informed financial decisions. No signup required, no data collected, no sales pitch—just straightforward math to help you understand your options.

Our Methodology

Our calculator uses standard amortization formulas to compute your payment schedule. For each month, we calculate:

• Interest charge = Remaining balance × (Annual rate ÷ 12)
• Principal payment = Monthly payment − Interest charge
• New balance = Previous balance − Principal payment − Extra payment

We iterate this calculation until your balance reaches zero, giving you an accurate month-by-month view of your mortgage payoff journey.

Assumptions and Limitations

Our calculations assume:

• Fixed interest rate for the life of the loan
• No prepayment penalties
• Extra payments applied immediately to principal
• Regular payment schedule with no missed payments

Real-world results may vary based on your lender's specific policies, timing of payments, and any fees associated with extra payments.

Why Free?

We sustain this website through advertising. This allows us to provide the calculator and educational content at no cost to you. We never sell your data or require registration.

Accuracy Commitment

We've tested our calculator against industry-standard amortization tools and verified the math with certified financial professionals. If you find any discrepancies, please let us know.