Mortgage Calculator: When Will It Be Paid Off?

Use this calculator to determine precisely **when your mortgage will be paid off** and visualize how making extra principal payments can drastically reduce your loan term and save you thousands in interest.

Modify the values and click the calculate button to use

Option 1: I Know the Original Loan Details and Remaining Term

This mode is perfect for new loans or loans where you know the original amount, term, and the current remaining term (if you've already made some payments).

Original Loan Amount
Original Loan Term years
Annual Interest Rate
Payments Made
 years
months
Repayment Options:

per month
per year (Lump Sum)
one time payment

 

Example Payoff: 24 years and 1 month

The original calculation had a remaining term of 25 years. By paying an extra $200.00 per month starting now, the loan could be paid off in 24 years and 1 month.

Interest Savings
$3,758		 Time Savings
11 months
Original Est. Interest: $253,300
With Payoff Est. Interest: $249,542
Reduce interest by 1.5%
Original Term: 25 yrs, 0 mos
New Payoff: 24 yrs, 1 mos
Payoff 3.7% faster
  Original Plan New Payoff
Monthly Payment$1,703.33$1,903.33
Total Interest Paid$253,300.00$249,542.00
Payoff Date25 yrs, 0 mos24 yrs, 1 mos

View Amortization Table