Mortgage Payoff Calculator

A mortgage is typically the largest debt most people carry. Even small extra payments can save tens of thousands in interest over a 30-year term. Making one extra payment per year on a 30-year mortgage can shave 4-5 years off your term.

Avg Balance: $250,000Typical Rates: 5.5-7.5% (2025-2026 rates)Avg Min Payment: $1,580/mo

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$0$500$1,000$1,500$2,000

Tips for Paying Off Mortgage

  1. 1

    Make biweekly payments to effectively make 13 monthly payments per year

  2. 2

    Even $100 extra per month can save years and tens of thousands in interest

  3. 3

    Consider refinancing if rates drop 1% or more below your current rate

  4. 4

    Do not extend your term when refinancing - keep the same payoff date or shorter

  5. 5

    Put any windfalls (tax refunds, bonuses) toward your mortgage principal

Other Debt Payoff Calculators

Credit Card Debt

15-28% APR

Student Loan Debt

4-8% (federal), 3-15% (private)

Car Loan

4-10% APR

Medical Debt

0% (payment plans) to 10%+ (if sent to collections)

Personal Loan

6-36% APR

Payday Loan

300-500% effective APR

Buy Now Pay Later (BNPL)

0% (on-time) to 25-30% (late/deferred)

Back to Debt Payoff Calculator