Loan Payoff Calculator
Start from what you owe today and what you pay: when the loan's actually gone, how much interest is left, and what an extra payment would change.
Ben / Reviewed Sep 27, 2026 / v2.0.0
Results
Showing the numbers you calculated- Payoff date
- 09/01/2041
- With extras · 07/01/2046 without
- Interest still to pay
- $110,664.18
- With extras · $155,680.55 without
- Payments left
- 180
- Last one $1,364.18
- Interest saved by extras
- $45,016.37
- Time saved
- 4 years 10 months
- 58 fewer payments
- Total still to pay
- $310,664.18
- Principal + interest (+ extras)
- Payments at the regular amount
- 238
- NPER: 237.12
- Years left (regular payment)
- 19.8
Year by year: regular payment vs. with extras
Swipe the table sideways to see all 6 columns.
| Year | Interest (regular) | Interest (with extras) | Saved | Year-end balance (regular) | Year-end balance (with extras) |
|---|---|---|---|---|---|
| 2026 | $3,243.22 | $3,185.64 | $57.58 | $198,743.22 | $193,085.64 |
| 2027 | $12,764.17 | $12,312.43 | $451.74 | $193,507.39 | $184,998.07 |
| 2028 | $12,413.50 | $11,770.79 | $642.71 | $187,920.89 | $176,368.86 |
| 2029 | $12,039.36 | $11,192.88 | $846.48 | $181,960.25 | $167,161.74 |
| 2030 | $11,640.16 | $10,576.28 | $1,063.88 | $175,600.41 | $157,338.02 |
| 2031 | $11,214.25 | $9,918.38 | $1,295.87 | $168,814.66 | $146,856.40 |
| 2032 | $10,759.78 | $9,216.37 | $1,543.41 | $161,574.44 | $135,672.77 |
| 2033 | $10,274.89 | $8,467.39 | $1,807.50 | $153,849.33 | $123,740.16 |
| 2034 | $9,757.54 | $7,668.25 | $2,089.29 | $145,606.87 | $111,008.41 |
| 2035 | $9,205.51 | $6,815.57 | $2,389.94 | $136,812.38 | $97,423.98 |
| 2036 | $8,616.54 | $5,905.80 | $2,710.74 | $127,428.92 | $82,929.78 |
| 2037 | $7,988.08 | $4,935.11 | $3,052.97 | $117,417.00 | $67,464.89 |
Payoff schedule
Swipe the table sideways to see all 7 columns.
| # | Date | Payment | Interest | Principal | Extra | Balance |
|---|---|---|---|---|---|---|
| 1 | 10/01/2026 | $6,700.00 | $1,083.33 | $416.67 | $5,200.00 | $194,383.33 |
| 2 | 11/01/2026 | $1,700.00 | $1,052.91 | $447.09 | $200.00 | $193,736.24 |
| 3 | 12/01/2026 | $1,700.00 | $1,049.40 | $450.60 | $200.00 | $193,085.64 |
| 4 | 01/01/2027 | $1,700.00 | $1,045.88 | $454.12 | $200.00 | $192,431.52 |
| 5 | 02/01/2027 | $1,700.00 | $1,042.34 | $457.66 | $200.00 | $191,773.86 |
| 6 | 03/01/2027 | $1,700.00 | $1,038.78 | $461.22 | $200.00 | $191,112.64 |
| 7 | 04/01/2027 | $1,700.00 | $1,035.19 | $464.81 | $200.00 | $190,447.83 |
| 8 | 05/01/2027 | $1,700.00 | $1,031.59 | $468.41 | $200.00 | $189,779.42 |
| 9 | 06/01/2027 | $1,700.00 | $1,027.97 | $472.03 | $200.00 | $189,107.39 |
| 10 | 07/01/2027 | $1,700.00 | $1,024.33 | $475.67 | $200.00 | $188,431.72 |
| 11 | 08/01/2027 | $1,700.00 | $1,020.67 | $479.33 | $200.00 | $187,752.39 |
| 12 | 09/01/2027 | $1,700.00 | $1,016.99 | $483.01 | $200.00 | $187,069.38 |
| 13 | 10/01/2027 | $1,700.00 | $1,013.29 | $486.71 | $200.00 | $186,382.67 |
| 14 | 11/01/2027 | $1,700.00 | $1,009.57 | $490.43 | $200.00 | $185,692.24 |
| 15 | 12/01/2027 | $1,700.00 | $1,005.83 | $494.17 | $200.00 | $184,998.07 |
| 16 | 01/01/2028 | $1,700.00 | $1,002.07 | $497.93 | $200.00 | $184,300.14 |
| 17 | 02/01/2028 | $1,700.00 | $998.29 | $501.71 | $200.00 | $183,598.43 |
| 18 | 03/01/2028 | $1,700.00 | $994.49 | $505.51 | $200.00 | $182,892.92 |
| 19 | 04/01/2028 | $1,700.00 | $990.67 | $509.33 | $200.00 | $182,183.59 |
| 20 | 05/01/2028 | $1,700.00 | $986.83 | $513.17 | $200.00 | $181,470.42 |
| 21 | 06/01/2028 | $1,700.00 | $982.96 | $517.04 | $200.00 | $180,753.38 |
| 22 | 07/01/2028 | $1,700.00 | $979.08 | $520.92 | $200.00 | $180,032.46 |
| 23 | 08/01/2028 | $1,700.00 | $975.18 | $524.82 | $200.00 | $179,307.64 |
| 24 | 09/01/2028 | $1,700.00 | $971.25 | $528.75 | $200.00 | $178,578.89 |
Schedule at the regular payment (no extras)
Swipe the table sideways to see all 6 columns.
| # | Date | Payment | Interest | Principal | Balance |
|---|---|---|---|---|---|
| 1 | 10/01/2026 | $1,500.00 | $1,083.33 | $416.67 | $199,583.33 |
| 2 | 11/01/2026 | $1,500.00 | $1,081.08 | $418.92 | $199,164.41 |
| 3 | 12/01/2026 | $1,500.00 | $1,078.81 | $421.19 | $198,743.22 |
| 4 | 01/01/2027 | $1,500.00 | $1,076.53 | $423.47 | $198,319.75 |
| 5 | 02/01/2027 | $1,500.00 | $1,074.23 | $425.77 | $197,893.98 |
| 6 | 03/01/2027 | $1,500.00 | $1,071.93 | $428.07 | $197,465.91 |
| 7 | 04/01/2027 | $1,500.00 | $1,069.61 | $430.39 | $197,035.52 |
| 8 | 05/01/2027 | $1,500.00 | $1,067.28 | $432.72 | $196,602.80 |
| 9 | 06/01/2027 | $1,500.00 | $1,064.93 | $435.07 | $196,167.73 |
| 10 | 07/01/2027 | $1,500.00 | $1,062.58 | $437.42 | $195,730.31 |
| 11 | 08/01/2027 | $1,500.00 | $1,060.21 | $439.79 | $195,290.52 |
| 12 | 09/01/2027 | $1,500.00 | $1,057.82 | $442.18 | $194,848.34 |
What this does
You don't need the original loan paperwork for this one. Enter today's balance, the rate, and what you actually pay, and it runs the loan forward to the last payment: when that is, how many payments are left, and how much interest you'll still pay.
Add an extra amount (every payment, one time, or both) and it shows the payoff date and interest side by side, so you can see what the extra money buys.
How the math works
Every payment: interest on the balance, the rest to principal, repeat until the balance hits zero.
interest = balance × rate per payment principal = payment − interest (+ any extra) balance = balance − principal
The last payment is just whatever's left, so it's usually smaller than the others.
For a quick check, Excel's NPER gives the exact (unrounded) number of payments:
NPER = −ln(1 − r × balance ÷ payment) ÷ ln(1 + r)
If the payment doesn't cover the interest, the balance never goes down — the calculator stops you rather than pretend the loan pays off.
Check my math: a worked example
You owe $200,000 at 6.50% and pay $1,500.00 monthly, with the next payment on 10/01/2026.
- NPER says 237.12 payments, so 238 actual payments — the last one only $180.55.
- That's about 19.8 years: the loan is gone on 07/01/2046.
- Interest still ahead of you: $155,680.55.
- Add $200 with every payment and a one-time $5,000, and it's 180 payments with $110,664.18 of interest, done 09/01/2041.
The extras save $45,016.37 of interest and finish the loan 4 years 10 months sooner.
These numbers come straight from the calculator using its example inputs — if the math ever changes, this example changes with it.
Mistakes I see a lot
- Entering the full monthly bill. If your payment includes escrow, subtract it — only principal and interest pay down the loan.
- Using the payoff quote as the balance. A payoff quote includes accrued interest; the balance on your statement is the principal.
- Assuming the lender applies extra money to principal. Say so when you pay, and check the next statement.
Questions people ask
- Why is the payment count different from NPER?
- NPER gives a fractional answer (like 237.12). You can't make 0.12 of a payment, so the schedule has 238 payments and the last one is small.
- My lender's payoff date is a little different — why?
- Lenders often count actual days between payments and apply payments the day they arrive. This uses equal periods (1/12 of a year per month), which lands within a payment or so.
- What if I can only afford the extra sometimes?
- Use the one-time extra for a single lump sum, or the Extra Payment calculator for a list of one-time payments on specific dates.
- Does the spreadsheet recalculate?
- Yes. Change the balance, payment, or extras on the Inputs sheet and both schedules, the comparison, and the summary update.
Assumptions and limits
- Starts from today's balance (principal only) and keeps making the same regular payment until the loan is gone. The last payment is only what's left.
- Fixed rate; each period's interest is the balance × the annual rate ÷ payments per year, rounded to the cent, like a lender.
- Extra principal goes straight to the balance with the payment it's made with. The one-time extra rides along with the first payment on or after its date (the next payment if you leave the date blank).
- The schedule is capped at 1,200 payments; a payment too small to pay the loan off within that is rejected instead of silently cut off.
- No escrow, fees, rate changes, or prepayment penalties.
Disclaimer: Educational and planning use only. Results depend on what you enter and may not match your lender, your tax return, or professional accounting treatment. Informational content + opinions only — not tax/legal advice.