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Pay Off Mortgage Early Calculator

See how much sooner your mortgage will be paid off and how much interest you'll save with extra principal each month, biweekly payments or a lump sum, and find the extra payment needed to be mortgage-free by a target year.

Updated November 4, 2026. Free, no sign-up; everything runs in your browser and nothing you type is stored.

Pay off mortgage early calculator

Mortgage balance ($)Interest rate (%)Months leftExtra principal each month ($)One-time lump sum now ($)

Pay biweekly (half the payment every 2 weeks)

Paid off

–

–Required payment (P&I)

–New time to payoff

–Payoff month (from Nov 2026)

–Interest saved

–Interest if you change nothing

–Interest with your plan

Pay off by a target

I want it paid off in (years)

–Extra needed

Extra mortgage payment calculator: how extra principal works

Every extra dollar of principal stops interest on that dollar for the rest of the loan. The required payment doesn't change; the loan just ends earlier. On a new $300,000, 30-year mortgage at 6.5% ($1,896.20 a month), paying $200 extra a month ends it about 7 years early and saves about $103,000 of interest.

Extra monthly: mark it "apply to principal" so the servicer doesn't hold it as an early payment.
Biweekly: half the payment every two weeks is 13 full payments a year. Use your servicer's official program or just add 1/12 of a payment each month; avoid paid third-party biweekly services.
Lump sum: a bonus or tax refund toward principal; if you want a lower payment instead of an earlier payoff, see the recast mortgage calculator.

Mortgage payoff calculator: should you pay off your mortgage early?

Prepaying is a guaranteed return equal to your rate. It usually makes sense after you have an emergency fund, no high-interest debt and at least your full 401(k) match. At low mortgage rates (3% to 4%), investing may beat prepaying over long periods; at 6% to 7%, prepaying is competitive. Check your note for a prepayment penalty (rare on loans made after 2014 rules, and limited to the first 3 years where allowed).

Home loan payoff calculator, house payoff calculator, mortgage payback calculator

All of these answer the same questions: when will the home loan be paid off, and how much will I save by paying more? The table above shows the payoff time and savings for extra payments from $0 to $1,000 a month, and the target box shows the extra needed to be done by a set year.

Calculate extra mortgage payments: other names for this tool

This extra mortgage calculator is also a calculator for paying off a mortgage early, an early repayment mortgage payment calculator and a mortgage early repayment calculator. It answers the same questions as a home loan early payoff calculator, home loan pay off early calculator, house loan early payoff calculator, home payoff calculator, house loan payoff calculator, mortgage loan payoff calculator, mortgage loan early payoff calculator and mortgage payoff estimator. Use it as a mortgage loan calculator with extra payments, mortgage payment calculator pay extra, mortgage payment calculator payoff or mortgage payment calculator to pay off early; as a mortgage pay off faster calculator or mortgage pay off sooner calculator; or as a house payment calculator pay off early, pay off home calculator, pay off home early calculator, pay off house early calculator, paying off home calculator or paying off home loan early calculator.

To calculate extra mortgage payments for a goal, use the target box; as a mortgage calculator to pay off by a set year, a pay down mortgage calculator or paying more on mortgage calculator, the table shows each extra amount's effect.

Common questions

How much faster will I pay off my mortgage with extra payments?

$200 extra a month on a $300,000, 6.5%, 30-year loan cuts about 7 years and saves about $103,000 of interest.

Do biweekly mortgage payments save money?

Yes: 26 half-payments equal 13 full payments a year, which cuts about 6 years off a 30-year loan at 6.5%.

Is it better to pay extra principal or invest?

Prepaying earns your mortgage rate risk-free; investing may earn more over time but with risk.

How do I pay off my mortgage in 15 years?

Find the 15-year payment on your balance and pay the difference as extra principal; the target box calculates it.

Is there a penalty for paying off a mortgage early?

Usually not; where allowed, prepayment penalties are limited to the first 3 years of qualified mortgages.

Sources

General information, not financial, tax or legal advice. Check important numbers with the official source before acting on them.