Mortgage Payoff Calculator

Pay Off Mortgage Early
Save Thousands in Interest

This mortgage payoff calculator is a great tool to show you how much in extra mortgage payments you would need to make to pay off your mortgage in a certain number of years.

In addition, it calculates the total amount of interest that would be saved by making the additional payments.

While there are many factors to consider before deciding whether to pay off a mortgage early, this calculator shows that it is surprisingly easy by paying a few extra dollars each month.

Mortgage Pay Off Calculator
Be sure to enter the annual interest rate as a decimal number. For instance, if the interest rate is 5 1/2%, enter it as 5.5.

Also, for the current monthly payment amount, enter only the principal and interest portion, not the taxes or insurance.

Enter the principal balance owed:
Enter the annual interest rate:
Enter the current monthly payment amount (principal & interest portion only):
Number of years you would like to pay off your mortgage in:
Additional monthly payment required:
Interest savings:

As you can see, by squeezing just a few more dollars each month from your budget to put toward your mortgage, you can save thousands in the long run and accomplish as major goal on your financial freedom plan.

Here are some other great tools to help you with your finances:

Debt Snowball Calculator
See how easy it can be to pay off all of your credit cards and loans more quickly with is debt snowball calculator.

Personal Budget Worksheet
This personal budget worksheet helps you to plan for expenses that occur on both a regular and irregular basis.

Savings Interest Calculator
Is there something that you spend money on each month that you could easily give up? This savings interest calculator will show you how regular, small savings can add up quickly.

Retirement Saving Calculator
This retirement saving calculator gives you insight into the retirement planning process.

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