# Mortgage Lump Sum Payoff Calculator **URL:** \ **Category:** Factual Questions\ **Created:** [August 25, 2021, 2:55pm UTC](https://boards.straightdope.com/t/mortgage-lump-sum-payoff-calculator/949505 "2021-08-25T14:55:17Z")\ **Posts on this page:** 10\ **Page:** 1
**Author:** ![MindsEye\_Watering](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/mindseye_watering/32/3619_2.png) [@MindsEye\_Watering](https://boards.straightdope.com/u/MindsEye_Watering)\ **Post date:** [August 25, 2021, 2:55pm UTC](https://boards.straightdope.com/t/mortgage-lump-sum-payoff-calculator/949505/1 "2021-08-25T14:55:17Z")
Anyone know of an online calculator that will show how much interest I would save if I payed off my mortgage right now in one lump sum? I am probably using incorrect search terms, but all the calculators that I am finding pertain to extra principal payments, which I don’t need. ---
**Author:** ![naita](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/naita/32/5862_2.png) [@naita](https://boards.straightdope.com/u/naita)\ **Post date:** [August 25, 2021, 3:00pm UTC](https://boards.straightdope.com/t/mortgage-lump-sum-payoff-calculator/949505/2 "2021-08-25T15:00:48Z")
Can’t you use a straight mortgage calculator, change the loan term to the remaining time on your loan and look at “total interest paid”? [https://www.mortgagecalculator.org/](https://www.mortgagecalculator.org/) ---
**Author:** ![Earl\_Snake-Hips\_Tucker](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/earl_snake-hips_tucker/32/3269_2.png) [@Earl\_Snake-Hips\_Tucker](https://boards.straightdope.com/u/Earl_Snake-Hips_Tucker)\ **Post date:** [August 25, 2021, 3:06pm UTC](https://boards.straightdope.com/t/mortgage-lump-sum-payoff-calculator/949505/3 "2021-08-25T15:06:45Z")
Maybe. If they’re using [Rule of 78](https://en.wikipedia.org/wiki/Rule_of_78s) can give some different payoff numbers than a straight amortization. ---
**Author:** ![MindsEye\_Watering](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/mindseye_watering/32/3619_2.png) [@MindsEye\_Watering](https://boards.straightdope.com/u/MindsEye_Watering)\ **Post date:** [August 25, 2021, 3:13pm UTC](https://boards.straightdope.com/t/mortgage-lump-sum-payoff-calculator/949505/4 "2021-08-25T15:13:39Z")
No. I can’t make that one work correctly. ---
**Author:** ![AlsoNamedBort](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/alsonamedbort/32/3213_2.png) [@AlsoNamedBort](https://boards.straightdope.com/u/AlsoNamedBort)\ **Post date:** [August 25, 2021, 3:28pm UTC](https://boards.straightdope.com/t/mortgage-lump-sum-payoff-calculator/949505/5 "2021-08-25T15:28:45Z")
Here you go: > **[Early Mortgage Payoff Calculator: How Much Should Your Extra Payments Be? -...](https://www.nerdwallet.com/article/mortgages/early-mortgage-payoff-calculator)** > > Pay off your mortgage early by adding extra to your monthly payments. NerdWallet's early mortgage payoff calculator figures out how much more to pay. Just put “0” for “In how many years do you want to pay off your mortgage” ---
**Author:** ![MindsEye\_Watering](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/mindseye_watering/32/3619_2.png) [@MindsEye\_Watering](https://boards.straightdope.com/u/MindsEye_Watering)\ **Post date:** [August 25, 2021, 3:33pm UTC](https://boards.straightdope.com/t/mortgage-lump-sum-payoff-calculator/949505/6 "2021-08-25T15:33:56Z")
Okay, this seems to work. The numbers are making sense. Thank you! ---
**Author:** ![mixdenny](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/mixdenny/32/2962_2.png) [@mixdenny](https://boards.straightdope.com/u/mixdenny)\ **Post date:** [August 25, 2021, 10:40pm UTC](https://boards.straightdope.com/t/mortgage-lump-sum-payoff-calculator/949505/7 "2021-08-25T22:40:04Z")
Isn’t it just as simple as reading your monthly statement? The payoff is the remaining balance. The total of all the payments you have left to pay is the amount including interest. Subtract one from the other. ---
**Author:** ![Hampshire](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/hampshire/32/4887_2.png) [@Hampshire](https://boards.straightdope.com/u/Hampshire)\ **Post date:** [August 25, 2021, 11:37pm UTC](https://boards.straightdope.com/t/mortgage-lump-sum-payoff-calculator/949505/8 "2021-08-25T23:37:22Z")
Just have to find a calculator with an amortization schedule included. Plug in the existing loan conditions then scroll to the bottom for total interest paid. ---
**Author:** ![MindsEye\_Watering](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/mindseye_watering/32/3619_2.png) [@MindsEye\_Watering](https://boards.straightdope.com/u/MindsEye_Watering)\ **Post date:** [August 25, 2021, 11:49pm UTC](https://boards.straightdope.com/t/mortgage-lump-sum-payoff-calculator/949505/9 "2021-08-25T23:49:13Z")
Thanks, folks. I got the answers I needed. ---
**Author:** ![amarinth](https://avatars.discourse-cdn.com/v4/letter/a/3be4f8/32.png) [@amarinth](https://boards.straightdope.com/u/amarinth)\ **Post date:** [August 26, 2021, 2:44am UTC](https://boards.straightdope.com/t/mortgage-lump-sum-payoff-calculator/949505/10 "2021-08-26T02:44:32Z")
Does your bank allow you to ask for your payoff number? If so, it might be easier to multiply your monthly payment by the number of months you have left and subtract the payoff. That’s about how much.