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Mortgage Payoff Calculator

Calculate how many months and how much interest you'll save by paying extra toward your mortgage principal each month.

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Currency for this calculator
Time to Pay Off
15y 3m (183 months)
  • Total Interest Paid$120,999.49
  • Total Paid$330,999.49
Show your work
  1. Monthly interest rate = 6.5% ÷ 12 = 0.5417%
  2. Simulated month-by-month: interest = balance × monthly rate, then the payment reduces the balance, until it reaches $0.
  3. Result: 183 months, $120,999.49 in total interest.

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