Mortgage Payoff Calculator 2026 (USA)

This calculator starts from your CURRENT remaining balance and years left — the numbers on your latest statement — and compares payoff strategies from where you stand today. An amortization calculator starts from a NEW loan's original amount and full term and shows the complete month-by-month schedule from day one. Use this one to plan paying off an existing mortgage faster; use the amortization calculator to see a new loan's full schedule.

Yes, but the saving comes from paying more, not from paying more often. 26 biweekly half-payments equal 13 full monthly payments a year instead of 12 — one extra payment. On the $275,000 example above, switching to biweekly alone (no other extra) pays the loan off about 3 years 10 months sooner and saves roughly $50,400 in interest, versus 4 years 8 months and $60,700 for a flat $200/month extra — because $200/month works out to slightly more than one extra payment a year on this loan size.

Usually not. The CFPB has taken enforcement action against a company that charged consumers setup and per-payment fees to do exactly what most mortgage servicers will do for free: apply extra amounts to principal. Call your servicer first and ask whether they accept extra principal payments or a biweekly schedule at no charge before paying a third party to arrange it.

It depends on your mortgage rate versus your expected investment return, and on your risk tolerance — paying down the mortgage is a guaranteed return equal to your interest rate, while investing carries market risk for a potentially higher return. There's no universally correct answer; many people split the difference. This calculator only estimates the mortgage-payoff side of that decision.

Not automatically at every servicer. Some servicers apply an extra payment toward next month's due date instead of principal unless you specifically designate it as "principal only," whether online, by phone, or with a note on a mailed check. Confirm the designation with your servicer and check your next statement to verify the balance dropped by the full extra amount.