How much does paying extra save me?

It depends on your balance and rate. Because extra payments go straight to principal, even a small monthly top-up can cut years off the term and save tens of thousands in interest.

Is it better to pay extra monthly or as a lump sum?

Both reduce principal and save interest. A lump sum saves slightly more because it starts reducing interest immediately, but monthly extra payments are easier to sustain.

Mortgage Payoff Calculator

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Loan balance ($)

Interest rate (%)

Term remaining (yr)

Extra per month ($)

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See how much interest you save and how many months you cut by paying extra each month. Free, instant, no signup.

How to use Mortgage Payoff Calculator

Open the toolNo signup and nothing to install; it works as soon as the page loads.
Set “Loan balance”
Set “Interest rate”
Set “Term remaining”
Set “Extra per month”
Read the resultChange any input and the result is recalculated immediately.

Worked example with the defaults

INTEREST SAVED · Paying $200.00 extra each month: $108,097

Nothing you enter leaves your device

All of the work happens inside your browser. Whatever you type is never packaged up and sent to a server, and no request this page makes carries it.

That makes it safe for contract amounts, personal details and internal documents you would rather not hand to a third party — close the tab and it is gone.

What this tool does not do

Mortgage Payoff Calculator only does what a browser can do on its own — it talks to no backend service. So it keeps no history for you and syncs nothing across devices; if you need a record, copy or download the result.

It is also not a substitute for professional judgement. For legal, medical or tax decisions, treat the output as a starting point rather than a final answer.

Frequently Asked Questions

How much does paying extra save me?: It depends on your balance and rate. Because extra payments go straight to principal, even a small monthly top-up can cut years off the term and save tens of thousands in interest.
Is it better to pay extra monthly or as a lump sum?: Both reduce principal and save interest. A lump sum saves slightly more because it starts reducing interest immediately, but monthly extra payments are easier to sustain.