House Loan Payoff Calculator
On a $250,000 house loan at 6.5% over 30 years you still owe $211,940 after 10 years. An extra $250 a month ends the loan 9 years 2 months sooner and saves $112,596 of interest.
Enter your own balance, rate and time left, then read the tables for what you owe each year and for each size of monthly extra.
House loan payoff calculator
Payoff with no extra: 30 years, $318,861 of interest.
Payoff with the extra: 20 years 10 months, $206,265 of interest.
You save $112,596 of interest and finish 9 years 2 months sooner.
What you owe each year
The loan is $250,000 at 6.5% over 30 years, a payment of $1,580.17 a month. With no extra it costs $318,861 in interest.
| After | Balance you owe | Interest still to pay |
|---|---|---|
| 5 years | $234,027 | $240,024 |
| 10 years | $211,940 | $167,300 |
| 15 years | $181,398 | $103,033 |
| 20 years | $139,163 | $50,457 |
| 25 years | $80,760 | $14,050 |
Paying the loan off in one payment at any of these points removes the interest in the last column.
What a monthly extra does
| Extra a month | Paid off in | Sooner by | Interest saved |
|---|---|---|---|
| $100 | 25 years 4 months | 4 years 8 months | $58,860 |
| $250 | 20 years 10 months | 9 years 2 months | $112,596 |
| $500 | 16 years 3 months | 13 years 9 months | $163,516 |
| $1,000 | 11 years 6 months | 18 years 6 months | $213,459 |
Check the contract first
The CFPB says a prepayment penalty is a fee that some lenders charge if you pay off all or part of your mortgage early.
Read your loan papers before you send extra. To start from the year you want to be done, use the early payoff home loan calculator.
Frequently asked questions
How much do I still owe on my house loan after 10 years?
On the example loan you owe $211,940 after 10 years, which is $38,060 of the $250,000 paid down. Enter your own balance, rate and time left in the calculator for your loan.
Why does the balance fall so slowly at first?
Each payment first covers the month's interest and the rest reduces the balance. In the first month of the example loan, $1,354.17 of the $1,580.17 payment is interest.
How do I get the exact amount to pay my house loan off?
Ask your servicer for a payoff statement. It includes interest up to the payoff date and may include fees, so it can differ from the balance on your last statement.
Should the extra go to principal?
Yes. Tell your servicer the extra is for principal, so it is not held as an early payment of next month's bill. Check how your servicer asks for that.
Is this the same as the early payoff home loan calculator?
It uses the same math. This page starts from what you owe now and what a monthly extra does; the early payoff calculator starts from the year you want to be done and gives the extra it takes.
Sources
Every figure on this page comes from the pages below. Checked 2026-11-10. Rules change, so confirm with your own servicer.
- CFPB: What is a prepayment penalty? (the definition of a prepayment penalty)
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