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Mortgage Payoff Calculator

See how extra payments cut years from your mortgage and save you thousands in interest. No signup needed.

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How much can you save by paying your loan off early?

Enter your loan details and simulate the impact of paying a little more each month. See exactly when you'll be debt-free — no account needed.

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You just found your savings number.

Create a free account to unlock your full payoff plan — track real payments, compare strategies, and manage multiple loans.

  • Track your real loan balance month by month
  • Build detailed payoff strategies: reduce term, installment, or both per period
  • Record extra payments and see the cumulative impact in real time
  • Manage multiple loans in one place
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Frequently asked questions

How do extra mortgage payments reduce my loan term?

Extra payments go directly to your principal balance, reducing the amount that accrues interest each month. Even small extra payments compound over time and can cut years off your mortgage.

How much does one extra mortgage payment per year save?

On a $300,000 30-year mortgage at 7%, one extra payment per year saves approximately $40,000 in interest and cuts 4–5 years off your term. Try it in the calculator above.

Is it better to make extra payments or invest?

It depends on your mortgage rate vs. expected investment returns. If your mortgage rate is 6%+ the guaranteed return of paying it off early often makes sense. Use our calculator to see the exact numbers.

What is an amortization schedule?

An amortization schedule shows every monthly payment broken down into principal and interest. Early in your mortgage, most of each payment is interest — extra payments accelerate the principal reduction.

Can I use this for different mortgage types?

Yes. Works for fixed-rate mortgages in any currency. Enter your current rate to simulate the impact of extra payments.

Ready to track your real progress?

Create a free account to save your simulation, track real payments, and manage multiple loans.

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