About the Payoff calculator
Payoff is a free debt and mortgage amortization calculator that shows you, month by month, exactly where every payment goes. Enter what you borrowed, your interest rate, and either your loan term or the monthly payment you can afford — payoff.tips builds your complete schedule instantly, splitting each payment into principal and accrued interest and charting the moment your payments start building more equity than they pay in interest.
Loans and mortgages, with the details that matter
For standard loans — auto loans, personal loans, student debt — you can solve in either direction: fix the term and learn your payment, or fix your payment and learn how long the debt survives. For mortgages, Payoff also models discount points and closing costs, whether you pay them in cash at closing or finance them into the loan, and can compare the mortgage cash flow against what you would have paid in rent over the same years — a cash-flow comparison only, not a buy-vs-rent verdict.
See what extra payments really do
Add an extra amount toward principal — every two weeks, every month, quarterly, twice a year, or once a year — and the calculator estimates how many months sooner you'll be debt-free and how much interest you avoid, with your original balance curve drawn alongside the accelerated one.
Private by design
Everything on payoff.tips runs in your own browser. Your numbers are never uploaded, stored, or shared — there are no accounts. The site is supported by display ads and aggregate analytics, and neither ever sees the figures you type. You can export your full schedule as a CSV file or print it, and the file is generated locally on your device.
Frequently asked questions
How does the amortization math work?
Each month, interest equals your remaining balance × (annual note rate ÷ 12). Whatever remains of your payment reduces principal. Because the balance shrinks a little every month, interest shrinks with it and an ever-larger share of the same payment goes to principal — that's the crossover point marked on the chart.
How much can extra principal payments save?
Every extra dollar reduces the balance that all future interest is charged on. On a typical 30-year mortgage, even a modest recurring extra payment can shave years off the loan and avoid tens of thousands of dollars in interest. Enter your own numbers above to see the exact figure for your loan.
Should I pay mortgage points or roll closing costs into the loan?
Points are prepaid interest — each costs 1% of the amount borrowed and typically buys a lower rate, which pays off if you keep the loan long enough. In this calculator the points field records their cost only; it doesn't change your rate automatically, so enter the rate your lender quotes after the discount. You can pay entered costs upfront or roll them into the loan, and compare how each choice changes your payment and total cost. Down payment, prepaids, and escrow funding are not modeled.
Is this financial advice?
No — Payoff is an educational tool. Its results are estimates based on standard fixed-rate amortization and the numbers you enter. Real loans can include variable rates, escrow, PMI, fees, and lender-specific rounding, so always confirm figures with your lender and consult a qualified professional for decisions.