Skip to Content

Early Mortgage Payoff Calculator

Use this calculator to see how much time and money you could save by making extra payments on your mortgage.

All fields are required.

Enter loan details

$
%

Enter extra payment details

$

Your results

Total interest saved over life of loan

$41,739.22

Total interest without extra payments

$246,983.33

Total interest with extra payments

$205,244.11

Total time saved

4 years and 4 months

Months to pay off without extra payments

360

Months to pay off with extra payments

308

How it works

Extra payment savings over time.

By making additional payments on your mortgage, you can save more.

Go to early mortgage payoff calculator

How we calculate your savings

Using the loan and extra payment details you entered, we calculate your interest and time savings by comparing the amortization schedule in two scenarios: one with extra payments and the other without. This will show you exactly what you’ll save when you make extra payments toward your loan.

Amortization is the process of paying a loan off over time. At first, a larger portion of your monthly payment goes toward paying interest, rather than principal. Making extra payments pays down the principal so that you’re accruing interest on a smaller remainder of the loan for the rest of the term. This helps you pay off your loan faster and save you money over the life of your loan.

Find the mortgage option that's right for you.  

Contact Us

Get personalized help

Give us a call

1-800-248-4638

TTY: We accept 711 or other relay service

Mon-Fri: 8 AM to 10 PM ET

Sat: 9 AM to 7 PM ET

Have Questions?