Mortgage Payoff Calculator

Calculate savings from extra mortgage payments and early payoff strategies

Mortgage Details

Extra Payment Options

Payoff Results

Payment Strategy Options

Extra Monthly Payment

Add a fixed amount to your monthly payment

Best for: Steady income, consistent savings

Bi-weekly Payments

Pay half your monthly payment every two weeks

Best for: Bi-weekly paycheck schedule

Annual Extra Payment

Apply annual bonus or tax refund to principal

Best for: Irregular extra income

Aggressive Paydown

Combine multiple strategies for maximum savings

Best for: High income, debt-free goals

Mortgage Payoff Strategies

Bi-weekly Payments
✓ Painless 26 payments vs 12
✓ Saves 4-6 years typically
✗ May have setup fees
✗ Less flexibility
Extra Principal
✓ Immediate interest savings
✓ Flexible amounts
✗ Requires discipline
✗ Opportunity cost
Refinancing
✓ Lower interest rate
✓ Reset to shorter term
✗ Closing costs
✗ Credit requirements
Recast/Re-amortization
✓ Lower monthly payments
✓ Keep current rate
✗ Requires large payment
✗ Not all lenders offer