Mortgage Payoff Goal Calculator

How this calculator works

Enter your current loan details and pick your target payoff date. The calculator uses binary search to work backwards — iterating until it finds the exact extra monthly payment that brings your balance to zero by that date.

The result is the amount you'd add on top of your regular principal-and-interest payment each month. Your base payment doesn't change — you're just adding to it.

Things to keep in mind

• The target date must be before your loan's scheduled end date — you can't pay off a 30-year loan in 35 years.
• Most conventional mortgages have no prepayment penalty, but verify yours before making extra payments.
• If the required extra payment is higher than expected, try sliding the target date out by a year or two.

How much extra would I need to pay per month to pay off my 30-year mortgage in 15 years?

On a $300,000 mortgage at 6%, cutting your 30-year loan to 15 years requires roughly an extra $730 per month on top of your base payment of about $1,800. That brings your total monthly payment to around $2,530 — but it saves you approximately $190,000 in interest over the life of the loan. Halving your mortgage term is one of the most impactful financial moves a homeowner can make, and it's more attainable than most people expect. Enter your own balance, rate, and a target date 15 years out to see the exact extra payment your loan requires.

How much extra would I need to pay per month to pay off my 30-year mortgage in 10 years?

Paying off a 30-year mortgage in 10 years is aggressive, but the math is straightforward. On a $300,000 loan at 6%, you'd need to pay roughly an extra $1,530 per month — bringing your total payment to about $3,330. The reward is substantial: you'd save close to $250,000 in interest and own your home free and clear in a third of the original time. This kind of payoff strategy is common among homeowners who receive a significant income increase, inherit money, or have paid off other major debts. Use the calculator above to set your target date and get the exact figure for your loan.

How much extra would I need to pay per month to pay off my 30-year mortgage in 5 years?

Paying off a 30-year mortgage in just 5 years requires serious monthly commitment. On a $300,000 mortgage at 6%, you'd need to add roughly $4,000 per month to your base payment — around $5,800 total each month. It's a high bar, but the savings are extraordinary: you'd eliminate nearly $300,000 in interest that would have otherwise accumulated over three decades. For homeowners who come into a windfall, sell a second property, or have the cash flow to make it work, five-year payoff is a legitimate goal. Plug your numbers into the calculator above and set a target date five years out to see exactly what it takes for your mortgage.