{"tool":{"slug":"mortgage-payoff","name":"Mortgage payoff calculator","version":"2026-08-21","canonicalUrl":"https://carlo.finance/tools/mortgage-payoff","jsonUrl":"https://carlo.finance/tools/mortgage-payoff.json","pageUrl":"https://carlo.finance/tools/mortgage-payoff","parameters":[{"key":"balance","label":"Remaining balance","unit":"usd","min":0,"max":100000000,"default":300000,"sourceId":null,"help":"What you still owe on the mortgage, from your latest statement. The default is an example, not a statistic."},{"key":"rate","label":"Interest rate","unit":"percent","min":0,"max":30,"default":6.65,"sourceId":"pmms","help":"The annual rate on your note. The default is this week's 30-year survey average; an existing loan keeps its own rate, so enter yours."},{"key":"yearsLeft","label":"Years left","unit":"years","min":1,"max":40,"default":25,"sourceId":null,"integer":true,"help":"Years until the scheduled payoff. The default is an example, not a statistic."},{"key":"extra","label":"Extra principal each month","unit":"usd-per-month","min":0,"max":10000000,"default":200,"sourceId":null,"help":"Paid on top of the scheduled payment every month. The default is an example to change; zero shows the plain schedule."},{"key":"lump","label":"One-time principal payment now","unit":"usd","min":0,"max":100000000,"default":0,"sourceId":null,"help":"Optional. A single extra principal payment made now, on top of anything monthly; it cuts the balance before the next payment."}]},"inputs":{"balance":300000,"rate":6.65,"yearsLeft":25,"extra":200,"lump":0},"result":{"scheduledPayment":2053.83,"monthlyOutlay":2253.83,"baselineMonths":300,"newMonths":243,"monthsSaved":57,"baselinePayoffDate":"Aug 2051","payoffDate":"Nov 2046","baselineInterest":316149,"totalInterest":245685,"interestSaved":70464,"baselineTotalPaid":616149,"totalPaid":545685,"firstYear":{"interest":19730,"principal":7316},"yearly":[{"year":1,"paid":27045.96,"interest":19729.68,"principal":7316.28,"balance":292683.72},{"year":2,"paid":27045.96,"interest":19228.04,"principal":7817.92,"balance":284865.79},{"year":3,"paid":27045.96,"interest":18692,"principal":8353.96,"balance":276511.83},{"year":4,"paid":27045.96,"interest":18119.21,"principal":8926.75,"balance":267585.09},{"year":5,"paid":27045.96,"interest":17507.15,"principal":9538.81,"balance":258046.28},{"year":6,"paid":27045.96,"interest":16853.13,"principal":10192.83,"balance":247853.45},{"year":7,"paid":27045.96,"interest":16154.26,"principal":10891.7,"balance":236961.75},{"year":8,"paid":27045.96,"interest":15407.47,"principal":11638.49,"balance":225323.26},{"year":9,"paid":27045.96,"interest":14609.48,"principal":12436.48,"balance":212886.79},{"year":10,"paid":27045.96,"interest":13756.78,"principal":13289.18,"balance":199597.6},{"year":11,"paid":27045.96,"interest":12845.61,"principal":14200.35,"balance":185397.25},{"year":12,"paid":27045.96,"interest":11871.96,"principal":15174,"balance":170223.25},{"year":13,"paid":27045.96,"interest":10831.56,"principal":16214.4,"balance":154008.86},{"year":14,"paid":27045.96,"interest":9719.83,"principal":17326.13,"balance":136682.72},{"year":15,"paid":27045.96,"interest":8531.86,"principal":18514.1,"balance":118168.63},{"year":16,"paid":27045.96,"interest":7262.45,"principal":19783.51,"balance":98385.11},{"year":17,"paid":27045.96,"interest":5906,"principal":21139.96,"balance":77245.15},{"year":18,"paid":27045.96,"interest":4456.54,"principal":22589.42,"balance":54655.73},{"year":19,"paid":27045.96,"interest":2907.7,"principal":24138.26,"balance":30517.47},{"year":20,"paid":27045.96,"interest":1252.67,"principal":25793.29,"balance":4724.18},{"year":21,"paid":4765.61,"interest":41.44,"principal":4724.18,"balance":0}]},"drivers":[{"key":"rate","label":"Interest rate","step":1,"monthsDelta":-3,"interestDelta":40330,"sentence":"Each point on the rate adds $193 to the scheduled payment and $40,330 of interest over the remaining schedule."},{"key":"lump","label":"One-time principal now","step":10000,"monthsDelta":-17,"interestDelta":-26342,"sentence":"Each $10,000 of one-time principal now pays the loan off 17 months sooner and saves $26,342 of interest."},{"key":"extra","label":"Extra principal each month","step":100,"monthsDelta":-21,"interestDelta":-23845,"sentence":"Each $100 more of extra principal a month pays the loan off 21 months sooner and saves $23,845 of interest."}],"sensitivity":{"byExtra":[{"extra":0,"months":300,"totalInterest":316149,"payoffDate":"Aug 2051"},{"extra":100,"months":268,"totalInterest":275989,"payoffDate":"Dec 2048"},{"extra":200,"months":243,"totalInterest":245685,"payoffDate":"Nov 2046"},{"extra":500,"months":191,"totalInterest":186442,"payoffDate":"Jul 2042"},{"extra":1000,"months":143,"totalInterest":134415,"payoffDate":"Jul 2038"}],"byLump":[{"lump":0,"months":243,"totalInterest":245685,"payoffDate":"Nov 2046"},{"lump":5000,"months":234,"totalInterest":232110,"payoffDate":"Feb 2046"},{"lump":10000,"months":226,"totalInterest":219343,"payoffDate":"Jun 2045"},{"lump":25000,"months":205,"totalInterest":185266,"payoffDate":"Sep 2043"}]},"assumptions":[{"key":"balance","label":"Remaining balance","value":300000,"unit":"usd","provided":false,"source":null},{"key":"rate","label":"Interest rate","value":6.65,"unit":"percent","provided":false,"source":{"id":"pmms","name":"Freddie Mac Primary Mortgage Market Survey","url":"https://www.freddiemac.com/pmms","asOf":"2026-08-20","note":"30-year fixed-rate mortgage average 6.65%; 15-year 5.95%."}},{"key":"yearsLeft","label":"Years left","value":25,"unit":"years","provided":false,"source":null},{"key":"extra","label":"Extra principal each month","value":200,"unit":"usd-per-month","provided":false,"source":null},{"key":"lump","label":"One-time principal payment now","value":0,"unit":"usd","provided":false,"source":null}],"sources":[{"id":"pmms","name":"Freddie Mac Primary Mortgage Market Survey","url":"https://www.freddiemac.com/pmms","asOf":"2026-08-20","note":"30-year fixed-rate mortgage average 6.65%; 15-year 5.95%."}],"warnings":[],"disclaimer":"This models extra principal on a fixed-rate, fully amortizing mortgage, with a published default for the rate. It is not a payoff quote or financial advice. Your servicer's payoff statement, and your note's terms on prepayment, are the figures that count."}