Payoff calculator

Nothing is filled in. Type your own balance, rate and years left, then add what each strategy brings. Every answer is checked two independent ways before it shows. Hypothetical, not guaranteed; closing costs, fees and taxes are not included.

Your loan

Mortgage balance ($) Mortgage rate (%) Years left

What the strategies add

One-time amount to principal ($) Monthly non-income amount to principal ($) Yearly amount to principal ($) New rate, same payment (%) Payoff goal (years)

Enter a balance, rate and years left to see results.

Velocity banking check

With the same monthly surplus, drawing a home equity line onto the mortgage only helps if the line costs less than the mortgage. The surplus does the work, not the line. Lines are usually variable and can rise.

Monthly surplus after all bills ($) Home equity line rate (%) Chunk drawn each time the line is clear ($)