About this calculator
Paying a mortgage off early is one of the highest-return, lowest-risk moves a homeowner can make. This calculator works backward from your target payoff date to show the exact monthly payment required and the interest you eliminate.
What it shows you
- The monthly payment needed to hit your target date
- The extra amount per month above your current payment
- Total interest saved vs. the original schedule
- Your current payment and the new payment, side by side
What you'll enter
- Current loan balance and annual interest rate
- Remaining loan term, in years
- Your target payoff term, in years
When to use it
- You want the mortgage paid off sooner, on a timeline you choose, such as by retirement
- Finding the payment needed to hit that target
Why it matters
Telling a client to "pay more" is vague. Showing the precise payment that retires their mortgage by a meaningful date — a retirement, a child's graduation — makes the goal real and achievable.
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