Mortgage Payoff Calculator
Enter your current loan details to find your exact payoff date and total remaining interest.
How to Find Your Mortgage Payoff Date
Your mortgage payoff calculator needs three inputs: current principal balance, interest rate, and monthly P&I payment. The balance and rate are on your monthly statement. Use the P&I (principal and interest) figure only — not your total PITI payment that includes escrowed taxes and insurance.
The calculator runs a month-by-month amortization: each month, your payment first covers the monthly interest (balance × rate/12), with the remainder reducing principal. This continues until the balance reaches zero — that's your payoff date.
Verify Your Balance is Decreasing
A quick sanity check: your monthly P&I payment must exceed your monthly interest charge (balance × rate/12). For a $280,000 balance at 6.8%, monthly interest is about $1,587. Any payment above $1,587 reduces the principal. If you're concerned about negative amortization on an ARM, contact your servicer for an amortization schedule.