Payoff Ledger Mortgage payoff calculator

Pick a debt-free date. Find the payment.

Enter your loan and the month you want it gone. The page finds the smallest extra amount each month that gets you there, or the one payment today that does the same.

Debt-free-by-date goal calculator

Step 1

Your loan

What you owe today, or the original amount if you set the next payment in the past.

Extra you pay now

A round-up, a bonus, a tax refund. The answer is the amount you need on top of these.

Step 2

Debt-free by

The years count from your next payment. The last payment lands in the month you pick, or sooner.

More options

Turns payoff dates into ages. It stays in this page’s link only.

Thinking in birthdays? The Before retirement calculator finds the extra amount for an age, like 65. Your numbers carry over.

All the math runs in your browser; nothing you enter is stored or sent anywhere. Last updated October 2026.

Compare dates

Each bar is the extra amount a month for one date. An earlier date needs a longer bar. Pick one to make it your target.

The amounts are on top of what you pay now. The second line is the one payment today that does the same.

Step 3

Set up the payment

Decide once. Your mortgage company sends the extra each month, and a yearly reminder keeps the plan honest.

Do these first

Then…

Your plan

    The link holds your loan and your date, so a bookmark keeps them. The reminder is a calendar file your device makes; nothing is sent.

    Check the numbers

    Each year of the plan, and the cent that decides the date.

    The plan, year by year

    Interest, principal, extra payments and the balance left at the end of each year of the plan
    YearInterestPrincipalExtraBalance

    Open every payment of this plan in the schedule, with a CSV download.

    One cent decides it

    How the answer is found

    A search, not a formula. It runs your whole schedule again and again until one cent separates a hit from a miss.

    There is no simple formula for “extra payment to hit a date” once real amortization is involved, so this tool does not approximate. It searches. It runs your full month-by-month schedule against candidate extra payments. It narrows the range until it lands on the smallest amount that reaches zero by your target month.

    $0 extra more extra → pass 1 misses the date still hits it pass 2 more than needed pass 3 pass 4… the exact minimum
    Each pass keeps the half of the range that still hits your date. After sixty passes the range is narrower than a cent. That is the answer.

    The result is exact: one cent less and the payoff slips past your date. The check under “Check the numbers” shows it for your loan. The same search also finds the single lump sum that does the job, if you’d rather make one payment today than raise every month’s.

    Figures are principal and interest only. Both answers assume your extra money goes straight to principal. Confirm that with your servicer, and check for prepayment penalties. For the full picture (one-time payments in specific months, bi-weekly schedules, every payment and a CSV export) use the main payoff calculator. Your loan and goal inputs carry over.

    More questions about this loan

    Each answer below uses your loan and what you pay now. Open a tool to change the rest; your numbers carry over.

    Debt-free by dateYou are here

    Make your plan

    When does the loan end now?

    Jul 2056on the schedule

    Try any extra amount, one-time payments or bi-weekly, and watch the date move.

    Open the payoff calculator

    See every payment?

    360 paymentsas you pay now

    Every payment, split into interest and principal, with the rows an extra amount deletes.

    Open the schedule

    Debt-free by age 65?

    $221.89more each month

    This line uses an example birthday, Jun 1985. The tool uses yours.

    Price it in birthdays

    Weigh your options

    Invest the $200 instead?

    $19,497more from investing

    Assumes 7% a year after tax, to Jul 2056. Paying extra earns a guaranteed 6.5%; the 7% is not guaranteed.

    Race the two roads

    Pay half every 2 weeks?

    $117,496less interest

    The loan ends 5 yrs 10 mos sooner. 26 half payments a year equal 13 full payments.

    Run the true calendar

    Recast after a $50,000 payment?

    $319.60less each month

    The new payment is $2,208.67. Keep paying $2,528.27 instead and the loan ends in May 2048.

    See both roads

    Refinance at 5.5%?

    20 paymentsto earn back the costs

    The usual formula says 25. This line uses an example offer: 5.5% and $6,000 in costs, rolled in, a year from now.

    Price an offer

    Today’s numbers

    Pay off the loan a year from now?

    $396,515.26to send that day

    Your statement would show $395,529.10. The payoff adds 14 days of interest at $70.44 a day.

    Price the payoff

    When can PMI stop?

    Oct 2033ask at payment #87

    Without a request it stops at payment #102. This line uses an example home value of $450,000.

    Find both dates

    Common questions

    Is the required extra payment exact?

    Yes, to the cent, for the loan as entered. It is the smallest monthly extra that reaches zero balance by your target month. Pay even slightly less and the final payment slips past your date.

    I already pay extra each month. Does this account for it?

    Yes. Open “Extra you pay now” and enter it, along with any cash (a bonus or refund) you can pay today. The baseline becomes your current path, the schedule plus those commitments, and the answer is the additional amount needed on top. If they already reach the goal date, the required extra shows $0.

    Should I choose the monthly extra or the lump sum?

    They reach the same date by different routes. The lump sum usually costs less in total. It removes principal today and stops interest on it for the whole remaining term. Monthly extras arrive gradually. Choose the lump if you have idle cash; choose monthly if you are working from income.

    What if I start extra payments later instead of now?

    Waiting raises the required amount, because early principal reduction avoids the most interest. Run the calculator again with a later next-payment month to see the difference. The same goal costs more per month the longer you wait.

    Does this include taxes, insurance, or PMI?

    No. Payoff math is principal and interest only. Escrow items change your total monthly cost but have no effect on how fast the balance falls or when the loan ends.

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