Extra-Payment Payoff Calculator

Estimates only. This tool is for educational and planning purposes based on the numbers you enter and general assumptions. It is not a payment quote, a loan offer, financial advice, or a commitment to lend. Actual results depend on your exact balance, rate, accrual method, and servicer.

Tell your servicer the extra money is for principal. These savings only happen if the extra amount is applied to your principal balance. Many servicers otherwise treat extra money as a prepayment of your next scheduled payment, which does not shorten the loan. Confirm how to designate principal-only payments.

No prepayment penalty assumed. Most conforming mortgages have none, but some loans do. Check your note before making large extra payments.