Mortgage Payoff Calculator
See how extra payments — using cash or a credit card strategy — can eliminate your mortgage years early and save tens of thousands in interest.
1Loan Details
$
$
Loan Amount: $280,000(20.0% down)
%
2Monthly Costs (PITI)
$
$
$
Total Monthly: $2,190
3Extra Payment Strategies
Cash Strategy
$
Credit Card Strategy
$
%
Important: Credit card strategy only benefits you if you pay the full balance each month. Carrying a balance at 19.99% APR will cost more than your mortgage savings.
Monthly Payment
$1,970
Base: $1,770
Payoff Time
22y 9m
vs. 30 years
Interest Saved
$101,283
vs. no extra payments
Years Saved
7.3 yrs
off your mortgage
Remaining Balance Over Time
- No Extra Payments
- Cash Strategy
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Pro Tips for Faster Payoff
📅
Make bi-weekly payments instead of monthly — you'll make 13 full payments per year instead of 12.
💰
Apply any windfalls (tax refunds, bonuses) directly to principal to make a big dent fast.
⬆️
Round up your payment — if it's $1,247, pay $1,300. The extra $53/month adds up quickly.
💳
If using credit cards, choose one with the highest cashback rate and pay it in full every single month.