Early Mortgage Payoff Calculator
What does an extra $100 or $500 a month actually do to your mortgage? Enter your current balance, rate, and payment — the calculator shows your new payoff date and exactly how much interest you keep.
Multiple rentals? Pay them off in the right ORDER.
LandlordPro's Payoff Planner runs the debt avalanche across your whole portfolio — which loan to attack first, when each property pays off, and how each freed-up payment snowballs into the next. Free to start — up to 4 units.
Try LandlordPro free →How extra payments work
Every extra dollar goes straight to principal. A smaller principal accrues less interest next month, so more of your regular payment hits principal too — the effect compounds month after month. That's why modest extra payments early in a loan cut off years, while the same dollars late in a loan cut off months.
For landlords with several mortgages, the bigger lever is order: pay extra on the highest-rate loan first (the debt avalanche), then roll that entire freed-up payment into the next loan. The snowball accelerates with each payoff.
Frequently asked questions
Does paying extra lower my monthly payment?
No — the required payment stays the same on a standard mortgage. Extra payments shorten the term and cut total interest. To lower the payment itself, you'd recast or refinance.
Is paying off a rental early better than buying another property?
Paying extra on a 7% loan is a guaranteed, tax-free-equivalent 7% return with zero effort. Buying another door may return more — with more risk and work. Many investors split the difference: avalanche the high-rate loans, deploy the rest.
Why principal & interest only, not my full payment?
Escrowed taxes and insurance continue after payoff — they're property costs, not loan costs. Using P&I only keeps the payoff math honest.
This calculator is provided for convenience and general information only and is not financial advice. Actual loan behavior depends on your note's terms — verify with your servicer.