Home Equity Loan Payoff Calculator
See exactly how your home equity loan balance shrinks over time. Enter your loan details and any extra monthly payment to see your new payoff date and interest savings.
Months to Payoff
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Monthly Payment ($)—
Total Interest Paid ($)—
Original Total Interest w/o Extra ($)—
Months to Payoff—
About this calculator
Estimate how long it will take to pay off a home equity loan or HELOC, including total interest paid, using an amortization schedule with optional extra monthly payments.
Frequently Asked Questions
How does an extra payment affect payoff time?
Extra payments go directly toward principal, reducing the balance faster and cutting the total interest paid over the life of the loan.
Does this work for a HELOC?
Yes, as long as you use a fixed rate and payment assumption. Variable-rate HELOCs will vary from this estimate as rates change.
Why is my payoff time different from my original term?
If you add extra payments, the calculator recalculates a shorter payoff time than your original loan term.