Mortgage Payoff Accelerator

When you pay more than the scheduled amount, the surplus goes to principal (tell your servicer to apply it that way). Less principal means less interest next month, compounding your savings.

Earlier dollars save more. A lump sum today beats the same total spread over years, because it kills interest accrual immediately.

Most U.S. residential mortgages originated in the last decade have no prepayment penalty, but verify with your servicer before sending extra.

Compare your mortgage rate to expected investment returns, and weigh the guaranteed return of killed interest against market risk. This calculator shows the guaranteed side.

Paying half your payment every two weeks equals 26 half-payments — one extra full payment a year. Enter that extra twelfth as a monthly extra to model it.

No. Planning estimates only — confirm with your lender or advisor.