Evaluate extra monthly, annual, one-time, biweekly, or lump-sum payoff options and compare interest savings.
Use this section when the original loan and remaining years/months are known.
Enter values and click Calculate.
| Original | With payoff | |
|---|---|---|
| No result yet. | ||
Use this section when your statement gives current balance, monthly payment, and interest rate.
Enter values and click Calculate.
| Original | With payoff | |
|---|---|---|
| No result yet. | ||
Enter your balance, rate, and any extra monthly, annual, or one-time payments. The comparison table and chart show how much sooner you finish and how much interest you skip — side by side with your current schedule.
| Scenario | Standard payment | +0/month extra |
|---|---|---|
| Loan amount | 0,000 | 0,000 |
| Rate | 6.5% | 6.5% |
| Payoff time | 30 years | ~22 years |
| Total interest | ~2,000 | ~5,000 |
Your numbers will differ — that's why the calculator above exists. Check your loan for prepayment penalties before you send extra principal.
Bi-weekly schedules, lump-sum windfalls, and refinancing to a shorter term each behave differently. We compare seven payoff approaches — with honest notes on which are overhyped — in our guide to paying off your mortgage faster. For bi-weekly math specifically, use the bi-weekly calculator.