Mortgage Repayment Goal Calculator

 

This calculator will show you how much you will need to add to your monthly mortgage payment in order to reach your payoff goal of a specified number of months or years in the future. In addition to showing the new monthhly payment, it will also calculate how much interest you will pay under the new amortization schedule versus your original amortization schedule. This calculator is for US mortgages, which accrue interest monthly. We also offer a Canadian payoff goal calculator which accrues interest semi-annually.

Current Mortgage Info

Principal balance owed:
Annual interest rate (APR %):
Current monthly principal & interest payment amount:
Total monthly payment (including taxes, insurance, HOA, etc.):

Your Payoff Goal

Number of months you would like to pay off your mortgage in:

Your Results

Additional monthly payment required:
New P&I Payment:
Total monthly mortgage payment with all other expenses:
Interest savings:

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