Mortgage tool

Mortgage Payoff Planner

Most calculators only allow one tidy "extra monthly payment." Real life is a tax refund here, a bonus there, and a recurring payment you started three years in. Add any mix of one-time and recurring extra payments — past or future — and see what they do to your payoff date.

Private by design: Calculator inputs are processed locally in your browser. They are not transmitted to Shaun Graham Finance or any third party. Nothing is kept unless you ask — use Save to file near the bottom of the page to keep your own copy.

Describe the loan

Already mid-mortgage? Enter the original amount, rate, term, and start date from your closing documents — the planner rebuilds the schedule from day one.

The start date defaults to today for a new loan. Escrow is shown in your total payment but never changes the payoff math — see the note below the results for why.

Add extra payments

Mix freely: a one-time tax refund, a $200/month habit that started in 2024 and a biweekly payday round-up can all run at the same time.

No extra payments yet

Remove	Type	Amount	Repeats	Date / first payment	Last payment
No extra payments yet — the chart shows your loan as scheduled. Add a payment to see the savings.

Payments dated in the past are included too, so you can reconstruct extra payments you have already made and see where you stand today. Leave "Last payment" empty to keep a recurring payment going until the loan is gone.

Read the result

Enter your loan details to see the payoff schedule.

Monthly principal & interest$0

Payoff without extras—

Payoff with extras—

Interest saved$0

Time saved—

Remaining balance over time

Without extrasWith extras

Inspect monthEnter loan details to inspect the curves.

Same loan, different terms

Every row uses your loan amount, rate, and the extra payments above. Pick a term in step 1 to make it the active scenario. 40-year terms mostly appear via FHA loan modifications and some non-QM lenders.

Term	Monthly P&I	Interest, no extras	Interest, with extras	Payoff with extras

Year-by-year schedule (with your extras)

Year	Interest paid	Regular principal	Extra principal	Ending balance	Balance without extras

Remember this loan and its extra payments on this deviceEverything on this page, including your amounts. Leave it clear and nothing is kept — a refresh starts fresh.

Everything is calculated in your browser; nothing you enter is sent to Shaun Graham Finance. Nothing is stored on this device unless you check the box above; with it clear, a refresh starts from the defaults. When checked, the whole form — including loan amounts, dates, and extra payments — is kept in local browser storage, not cookies. That storage is not encrypted, so avoid it on a shared device. Files you save contain the loan details you entered; protect them like other financial records.

Important assumptions before sending extra money

The model assumes a fixed rate and that every regular payment is made on schedule. Extra payments are applied to principal with the next regular payment on or after their date.
Confirm with your servicer that extra money is applied to principal, not held as a prepayment of next month's bill — many require you to mark it explicitly.
Check for prepayment penalties; this calculator does not model them.
Extra payments shorten the loan but do not lower the required monthly payment. Lowering the payment itself requires a recast or refinance.
The 20% equity date uses your original purchase value and the standard 80% loan-to-value request threshold; servicers apply their own rules, and rising home values can get you there sooner via appraisal.
Biweekly extras land 26 times a year, which is why they quietly out-pace monthly extras.

Why escrow changes don't change your payoff date

If your payment jumped this year, you are not alone — property taxes and homeowners insurance have been rising fast, and roughly two-thirds of escrow accounts have been running short. But an escrow increase changes your bill, not your loan. Taxes and insurance pass through your servicer to the county and the insurer; they never touch principal or interest. That is why this planner treats escrow as an optional display-only number: the payoff math is exactly the same whether your escrow is $300 or $900. Predicting your county's next reassessment would be guesswork dressed up as precision, so we don't.

Using this with a mortgage you already have

Enter the loan as it was written at closing — original amount, original rate, original term, and the real start date. Then add the extra payments you have already made, dated when you made them. The "Where you stand today" panel shows how far ahead those payments have put you, and the chart's Today marker splits history from what is still ahead. To test a new habit, add another recurring payment starting next month and watch the payoff date move.