Payoff Ledger Mortgage payoff calculator

Mortgage goal seek · Reverse payoff math

Pick the date. We’ll find the payment.

Choose the month you want to be mortgage-free. This calculator finds the exact minimum extra payment that gets you there, monthly or as one lump sum today.

Debt-free-by-date goal calculator

Your loan Your loan

Optional. A round-up or autopay extra you already make. We’ll solve for what’s needed on top of it.

Optional. A bonus, tax refund, or savings you’re ready to apply now. It counts toward the goal before we solve.

Your goal Your goal: debt-free by

Optional: turns the dates into ages (“debt-free at 58”), right in your browser. Your birth date stays in this page’s own link and never rides along to the other tools. Thinking birthday-first? Solve for an age instead.

The ledger correction

Choose a goal date to see the correction.

… …
… interest you keep
… sooner than your current path

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

Balance: current path vs your goal

Current path Goal plan

How the answer is found

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 dollar less and the payoff slips past your date. 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.

today scheduled your goal date a little extra every month or one lump sum today
Two roads, one date. Many small extras or one lump today close the ledger on the same day. Without either, the payoff waits for the scheduled term.

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 (lump sums in specific months, bi-weekly schedules, the payment table and CSV export) use the main payoff calculator. Your loan and goal inputs carry over.

Work the same loan ten ways

Every tool inherits what you type here. Nothing to re-enter, nothing stored. Dollar figures are the example loan: $400,000 at 6.5% over 30 years.

Make your plan

Payoff calculator
Add $200 a month and watch $111,892 of interest die. Lump sums and milestones too.

Amortization schedule
Every payment, split into interest and principal. $200 a month deletes 67 rows.

Debt-free by dateYou are here
Pick the month; it finds the smallest extra that gets there. Twenty years costs $454.03 a month.

Before retirement
Paid off at 65 instead of 71 costs $221.89 a month. Priced in birthdays, not dates.

Weigh your options

Prepay vs invest
The market has to beat your mortgage rate after tax. Both roads run to the cent.

Bi-weekly payments
Half-payments every two weeks finish 5 years 10 months sooner. The paid programs get priced too.

Recast
A $50,000 lump can cut the payment $319.60 a month. The lower payment’s price: $137,661.

Refinance
The advertised break-even says 25 payments. The honest ledger says 20. You see both.

Today’s numbers

Payoff amount
The statement says $395,529.10. The check that clears the loan says $396,515.26.

PMI removal
Asking at 80% instead of waiting for 78% keeps $2,805. Both dates, dated.

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. Enter it under “extra you already pay,” along with any one-time cash (a bonus or refund) you can put in 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. Re-run the calculator with a later first-payment date 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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