Mortgage Payoff Calculator | Calculate Your Completely Custom Payoff Plan
Our Mortgage Payoff Calculator gives you a plan for your money. It also helps you stay motivated as you chip away at your mortgage loan. This calculator is not like the rest. You can FULLY customize this mortgage payoff calculator to match your exact payoff plan.
Are you planning to put a big chunk toward the mortgage every month? What about your future tax return, bonus, or other large amount down the road? Are you planning to increase your income over the next few years and want to put it toward the mortgage, and you want to know how that will improve your payoff date?
We’ve got you. Ours can totally do that!
Microsoft Excel File (can also be used with Google Sheets)
+ User friendly
+ Fully automated (you fill in the white boxes, everything else will auto calculate!)
+ Space for 1-10 mortgages (must all be fixed and on same payment schedule e.g. monthly)
+ Change and play around with several variables to see how it affects your payoff date
+ Input for one-time lump sum payments on mortgage (bonuses, tax refunds, etc.)
+ Input for expected increases in monthly mortgage payment (future raises, second job, etc.)
+ Shows mortgage payoff date whether you are on a monthly, twice monthly, or biweekly mortgage schedule for your minimum payment
+ Clearly displays your mortgage stats
+ Clearly displays mortgage payoff month and year
What You Will Be Able to Do With This Calculator:
+ See how fast you can get ahead of your lender’s schedule and how you are putting the interest payments right back into your pocket
+ Quickly calculate mortgage interest saved, keeping you motivated to stay ahead
+ Quantify your mortgage-free wins by watching your payoff date get closer and closer
+ Include future lump sum payments, like bonuses, tax returns, and leftover spending money to see the true power of your commitment
+ Easily adjust payoff dates with lifestyle or income changes, ensuring you stay the course no matter what life throws at you
+ Help your spouse or family see the power of an aggressive mortgage paydown plan so that you can be on the same page
Have user questions? Email me at email@example.com
NOTE: This tool works best with Excel, but can also be used with Google Sheets.