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Mortgage Payoff Calculator

Your lender's official payoff letter is the real number, but this gets you close so there are no surprises at the closing table. Runs on your device — nothing is submitted.

Estimated payoff amount —

Enter your loan details.

Interest on most mortgages accrues daily until the payoff is received, so the longer the gap to closing, the higher the payoff. This assumes simple daily interest and no escrow shortage or surplus — your lender's payoff letter can differ.

Why the payoff isn't just your balance

Mortgage interest is charged in arrears, so between your last statement and the day funds actually reach the lender, per-diem interest keeps accruing. Add a small administrative or recording fee for releasing the lien, and occasionally a prepayment penalty on some loan types, and the real number can run a few hundred dollars above the balance on your last statement. Always request an official payoff statement from your lender before closing — it's typically valid for 10 to 30 days and is the number your title company will actually use.

Get a written cash offer instead

Related: Home Equity Calculator · Closing Cost Calculator