🏠 Mortgage Payoff Calculator

ℹ️ About Early Mortgage Payoff

Paying off your mortgage early is an effective way to reduce total interest costs. By making extra payments, you can:

• Save significant interest — every extra dollar reduces the principal that future interest is calculated on
• Shorten your loan term — keeping the same payment while paying extra directly cuts your payoff time
• Free up cash flow — once paid off, that monthly payment stays in your pocket

Three common early payoff strategies:

• Extra Monthly Payment — add a fixed amount each month; consistent and predictable savings
• Lump Sum Payment — use a bonus or savings to reduce principal all at once; immediate impact
• Biweekly Payments — pay half every two weeks, effectively making one extra payment per year; painless acceleration

⚠️ This calculator is for reference only. Actual repayment terms are subject to your lender's confirmation. Early repayment may involve prepayment penalties — please consult your lender.