Mortgage Payoff Calculator

Use our handy and simple online calculator to estimate how much will you save by paying off your mortgage early

Select the App

How to use Mortgage Payoff Calculator

Step 1

Launch one of our applications by clicking on the button above the gray box at the top of the page

Step 2

Use the application following the instructions indicated inside, make all the necessary calculations

Step 3

If for some reason you do not like the application, try others by clicking on other buttons, they have slight differences

What is Mortgage Payoff, why and how it is calculated and who needs to do it

In short, it is a standard mortgage calculator with built-in additional payment features, making it very easy to use. And very powerful. By entering the initial mortgage amount, you can quickly understand what additional payments you are paying for the interest savings and mortgage years. The Mortgage Repayment Calculator will help you determine the rate of mortgage repayment by increasing your monthly mortgage payment. The interest rate is used to calculate the monthly payment. Please note that the interest rate is different from the annual interest rate (APR), which includes other expenses such as mortgage insurance, initial fees, and/or points that were paid at the time the mortgage was created.

You need to increase the mortgage amount you want to pay and write down the additional amount that will be applied to the principal amount in the comments section of the receipt (or in other annotations for online banking payments). By paying a little more per month, you can get to the end of the loan faster and reduce the total interest you pay. Insert the numbers below to see what might happen. Before you overpay on your mortgage, check whether your lender allows you to overpay penalties and how much you can overpay. The additional amount will reduce the principal amount of the mortgage, as well as the total amount of interest you will pay and the number of repayments.

Fill in the blanks with your home loan information and enter how many years you want to pay back. The calculator not only tells you how much you should pay each month to pay off the principal faster but also shows you how much interest you will save. Best of all, however, if your financial situation has changed and you have more money to set aside for housing costs, paying off your mortgage early can save you thousands of dollars in interest costs. Whether you're thinking about extra payments or early repayment, our mortgage repayment calculator will help you determine exactly how much money you want to save according to different payment schedules.

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