Payoff by Target Date Calculator

Find out the payments needed to clear your mortgage by a specific date.

Target Payoff Date

Required Monthly Payment

-

Total Interest

-

Total Payment

-

Actual Payoff Date

-

Usage Instructions

How can I get started quickly?
  1. Fill in “Basic Information”:
    • Loan Amount (principal)
    • Annual Interest Rate (percent)
    • Original Loan Term (Years + Months supported)
    • Repayment Method: EMI (Equal Monthly Installment) or Equal Principal
    • Start Date (used to compute each due date and payoff timeline)
  2. Set “Target Payoff Date”: choose the desired date you want to fully pay off.
  3. Click “Calculate” to see the required monthly payment and the resulting KPIs.
How is the required payment calculated for a target date?
  • The calculator searches for a monthly payment that amortizes the loan by your target date.
  • With EMI, the payment is fixed each period; with Equal Principal, the fixed principal per period is adjusted to meet the target date.
  • If the target date is very aggressive (too close), required payment may be significantly higher than original.
  • If the target date is later than the original payoff date, the required payment may be lower (if allowed by the method).
How do Start Date and Target Payoff Date affect results?
  • Start Date defines the schedule baseline (first due date and monthly cadence).
  • Target Payoff Date dictates the number of remaining periods; payments are solved accordingly.
  • Minor differences may appear due to month lengths and rounding conventions.
What results and savings will I see?
  • Required Monthly Payment to meet your target date.
  • Total Interest and Total Payment under this plan.
  • Actual Payoff Date in case of rounding or schedule constraints.
How do I use the chart and window slider?
  • Use the range window to zoom into specific periods of interest.
  • Drag handles or the selection bar to adjust the window; labels update live.
  • Compare principal vs. interest dynamics over time.
How do I use the amortization table?
  • Use “Expand All / Collapse” to control visibility.
  • Export to CSV via “Export to Excel”.
  • Share a parameterized link with “Share Link”.

Related Tools & Guides

Quick Tools

🏠

Extra Payments Calculator

Plan monthly, annual, and one‑time overpayments

📊

Ramsey 25% Rule

Check if your mortgage fits Dave Ramsey's 25% rule

Helpful Guides