Free calculator
Extra payment mortgage payoff calculator
See how much sooner your loan is paid off — and how much interest you save — when you add extra principal to each monthly payment. The estimate is based on your own numbers.
The short answer
Last updated: July 2026
This tool estimates how extra principal may shorten a fixed-rate mortgage and reduce interest by comparing two amortization schedules. It does not calculate a date-specific payoff quote: only the creditor or servicer’s current payoff statement controls the amount required to satisfy the loan.
Primary references on this page:
·
CFPB: Paying a mortgage off earlyAfter the estimate:
Self-management softwareMortgage payoff calculator
Pay a little extra. Finish years early.
Add extra principal to each monthly payment and see how much sooner the loan is paid off — and how much interest that saves over its life.
Current loan balance
$
Interest rate (APR)
6.50%
0%
12%
Years remaining
30 yrs
5 yrs
40 yrs
Extra principal per month
$
On top of the $2,023 scheduled principal & interest payment.
Input-driven result
Your inputs
Formula
Result below
Interest saved
$105,429
By adding $200/mo to the payment.
Time saved
6 yr 7 mo
Paid off in 23 yr 5 mo instead of 30 yr.
Payoff comparison
Scheduled interest
$408,142
Interest with extra
$302,714
Interest avoided
$105,429
Estimate based on your inputs. Not a promise of results.
Estimate only. It assumes a fixed rate and that every extra dollar goes to principal each month. It excludes taxes, insurance, and any prepayment terms — confirm your loan allows extra principal without a penalty.
How it works
How this tool works.
A little extra on every mortgage payment goes entirely to principal, and because interest compounds on the balance, shrinking that balance early pays off out of proportion to the amount. Even a modest monthly add-on can knock years off a loan and save a striking amount of interest over its life.
Enter the loan balance, rate, and years remaining, plus the extra you’d pay each month, and this calculator estimates the time and interest saved. It simulates the amortization schedule month by month for both plans and compares them — an illustration from your inputs, not a prediction or an offer.
Make the result useful
Payoff speed has a cash-flow tradeoff
An extra principal payment can reduce interest and shorten the loan, but it also locks cash into equity. Compare the payoff benefit with the reserve you need for repairs, vacancy, and other obligations.
Apply only amounts confirmed as principal-only with your servicer; payment timing and loan terms affect the real schedule.
Should every owner prepay?
No. Liquidity, rate, loan terms, and other uses of cash matter.
Questions landlords ask
Questions about this tool and its limits.
Built by a landlord who's done every one of these jobs by hand.
Aptoria was built by an owner-operator managing a Brooklyn portfolio — the 11pm calls, the awkward rent texts, the April receipt-pile — not by a software team guessing at the problem.
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