When Will I Pay Off My Mortgage? 2026 Calculator
Your payoff date is determined by the remaining balance, rate, and monthly payment. Adding even a small extra payment each month can pull that date forward by years and save substantially on interest. Enter your loan details above to see both the scheduled and accelerated payoff dates.
Your loan and extras
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instead of —
- Monthly payment
- $0.00
- Time saved
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- Interest without extras
- $0
- Interest with extras
- $0
- Interest saved
- $0
Extra payments only help if the servicer applies them to principal. Say so in writing when you send one.
Finding Your Scheduled Payoff Date
If you make only the required payment each month and never refinance, the amortisation schedule sets a fixed payoff date. On a $300,000 loan at an illustrative 7 percent rate originated in early 2026 with a 30-year term, the final payment falls in early 2056. Every month of that timeline is accounted for in the original schedule, and the balance reaches zero on the last payment.
In practice, most borrowers do not follow the original schedule to the end. Refinancing, selling, or prepaying changes the trajectory. But the scheduled date serves as the baseline — the worst-case timeline if nothing changes. Knowing it creates a concrete target to beat rather than an abstract "30 years" that feels too distant to act on.
This calculator displays that target date in calendar terms, not just a payment count, because a date on the calendar carries more motivational weight than a number of remaining payments.
How Extra Payments Pull the Date Forward
Each dollar of extra principal reduces the balance that accrues interest the following month. Over time, this creates a compounding effect: the scheduled interest drops, more of the regular payment flows to principal, and the balance declines faster than the original amortisation anticipated.
On the same $300,000 loan at 7 percent, adding $200 per month to the required payment can shorten the term by roughly seven years — moving the payoff from 2056 to approximately 2049 — and eliminate tens of thousands in interest. The savings are not proportional to the extra amount: the first $100 of extra principal produces more interest savings than the second $100, because the balance reduction starts compounding earlier.
The lump-sum calculator models one-time windfalls, while the biweekly-plus-extra calculator shows how paycheck-aligned scheduling can make consistent extra payments easier to sustain.
Extra-payment projections assume the additional amount is applied to principal each month. Confirm with your servicer that prepayments are processed this way.