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Free mortgage payoff calculator. See how much interest and time you save by paying extra each month, switching to biweekly payments, or making a one-time lump-sum payment on a 15-, 20- or 30-year mortgage.
Even $50 extra per month adds up over a 30-year loan.
Interest saved
$69,338
Time saved
4 yr 2 mo
Paid off in 25 yr 10 mo instead of 30 yr.
Free mortgage payoff calculator that compares your current 15-, 20- or 30-year mortgage to three early-payoff strategies side by side: an extra principal payment every month, switching to a biweekly schedule (which adds one extra full monthly payment per year), or a one-time lump sum applied in a specific month. See the exact dollar amount of interest saved and how many years and months you cut off the loan. Supports USD, GBP, EUR, CAD and AUD.
See exactly how much interest you save by adding even $50–$100 of extra principal every month on a 30-year loan.
Switching to biweekly adds one extra full payment per year — see how that changes payoff date and total interest.
Apply a bonus, tax refund or inheritance against principal and watch the years-saved number jump.
Toggle the term between 15, 20, 25 and 30 years to size up the trade-off between monthly P&I and lifetime interest.
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Deep dives and expert tips to get the most out of Mortgage Payoff Calculator.
Generate a month-by-month loan amortization schedule with principal/interest split. Download as CSV or print as PDF. Free, no signup, no watermark.
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Why is interest so much higher than principal early on?
Standard amortization charges interest on the remaining balance every month. Early in the loan the balance is huge, so most of each payment is interest. Extra principal payments shrink the balance faster, which cuts the interest on every payment that follows.
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