Home Mortgage Payoff Strategy Calculator

Compare various strategies for paying off your home mortgage quickly and save on interest expenses.
Primary Loan Details
30 years
Savings & Expenses
Over and above expenses
Strategy Details
Monthly Payments

This is the standard minimum monthly payment.

Payments Twice A Month

Two equal payments each month, exactly half the monthly payment.

Payments Every Two Weeks

Payment every two weeks, exactly half the monthly payment, for a total of 26 payments.

Additional Yearly Payment

One additional principal payment made a the end of each year.

Extra Monthly Principal

Additional principal payment made each month.

HELOC Accelerated

The strategy uses a HELOC to make lump sum principal payments.

Debt Cliff

Extra savings goes into a separate savings account and builds until the mortgage can be paid off in one payment.

Strategy Comparison Summary
StrategyMonthsInterestInterest Savings
Monthly Payments360 (30 years)$69,801$0
Payments Twice A Month359 (29 years, 11 months)$69,278$522
Payments Every Two Weeks319 (26 years, 7 months)$60,651$9,149
Additional Yearly Payment275 (22 years, 11 months)$51,319$18,482
Extra Monthly Principal77 (6 years, 5 months)$13,175$56,626
HELOC Accelerated78 (6 years, 6 months)$13,716$56,085
Debt Cliff83 (6 years, 11 months)$24,921$44,880
Strategy Comparison Chart
  • Monthly Payments
  • Payments Twice A Month
  • Payments Every Two Weeks
  • Additional Yearly Payment
  • Extra Monthly Principal
  • HELOC Accelerated
  • Debt Cliff

DISCLAIMER: The calculators found on NvestaLabs.com are designed to be used for educational purposes only, and does not constitute investment advice. NvestaLabs.com recommends that you seek the advice of a real estate professional before making any type of investment. The calculated results presented on this site may not reflect the actual investment returns. There are many factors that can cause your actual return to differ from what is estimated on this site. NvestaLabs.com is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by the investment tools on this site. Additional, NvestaLabs.com is not responsible for any human or programmatic errors or omissions.