Mortgage Payoff Calculator
"When will this be paid off?" has a precise answer — and it moves every time you change the rate, the term, or how much you pay above the minimum.
What determines the payoff date
A mortgage ends when the balance hits zero, so anything that shrinks the balance faster pulls the date forward. Only three levers matter: how much you borrowed, the interest rate you pay on it, and how much you pay per period. The first two are largely set at closing; the third is the one you control after it.
Two numbers worth knowing
- Years earlier — the gap between your scheduled payoff and your actual one once extra payments are counted.
- Interest saved — the interest that never accrues because the balance was gone sooner. On a long mortgage this is often tens of thousands.
Early payoff isn't automatically the best move
Money used to kill a 3% mortgage is money not invested, and not held as an emergency fund. The case gets stronger as your rate rises and as you value certainty over return. Seeing the interest-saved figure lets you compare it against the alternatives honestly instead of guessing.
Do it in Hearth
Hearth shows the payoff date, years-earlier, and interest-saved figures live as you add a recurring or one-time extra payment — with the full amortization schedule underneath, so you can see the exact period the balance reaches zero.
Try it on your own numbers
Free, no sign-up — move the sliders and watch it update live.
Open the calculatorFrequently asked questions
How do I calculate my mortgage payoff date?
Amortize the loan period by period: each payment covers that period's interest first, and the rest reduces the balance. The payoff date is the period the balance reaches zero. Hearth does this for you and re-runs it instantly when you change any input.
How much sooner will extra payments pay off my mortgage?
It depends on the rate and how early you start, but a modest recurring extra — say 10% on top of the payment — commonly removes several years from a 30-year mortgage. Hearth reports the exact years-earlier figure for your numbers.
Is it better to pay off the mortgage early or invest?
Paying early is a guaranteed return equal to your mortgage rate; investing has a higher expected return with risk. The higher your rate and the more you value certainty, the better early payoff looks. Knowing the interest saved makes the comparison concrete.
Does my payoff amount equal my remaining balance?
Roughly, but not exactly — a lender's payoff quote includes interest accrued to the payoff date and any discharge fees. Use the calculator for planning and ask your lender for a formal quote before you settle.