Paying a little extra on the mortgage sounds good, but how much does it really save? This planner works from your current balance and shows the new payoff date, the months saved and the interest you keep, for any extra amount.
Nothing hidden here. You can read how extra payments are figured right now, tab by tab. Pair it with our household budget planner and both sides of the job are covered.
What the Mortgage Payoff and Home Equity Planner does
- Current balance, new payoff date, interest saved and equity now on one Dashboard
- Normal payments vs your extra, side by side: payoff date, months saved and interest left
- Extra monthly, a yearly extra in the month you pick, and a one-time lump sum
- What If table for $50, $100, $200, $500 and $1,000 a month, plus an amount of your own
- Home equity, loan-to-value and estimated PMI dates at 80% and 78%
- 30 year equity projection and a full schedule of up to 480 payments
- Every input shows the value the math uses, with a plain note when something needs a look
What's inside
5 tabs: Start Here, Dashboard, Loan, What If, Schedule.
Who it's for
Homeowners who already have a mortgage and want to know what extra payments would do.
What you get
Two spreadsheet files (.xlsx): one filled with examples so you can see exactly how it works, and a blank copy ready for your household. For Microsoft Excel and Google Sheets. No macros, no subscription.
The formulas are locked, so a stray keystroke can't break them. You only type in the yellow cells.
What you need to use it
- Microsoft Excel 2010 or newer, on Windows or Mac, including Microsoft 365
- Or Google Sheets in any web browser, free with a Google account
- A laptop or desktop works best for setup. Phones and tablets are fine for checking numbers and quick entries.
- No macros, add-ins or internet connection needed once it's downloaded. Apple Numbers isn't supported.
Every result is an estimate, not financial advice. Rates, prices and lender rules vary, so check big decisions with your lender or a financial professional.
Questions
I don't know my exact balance. Is that OK?
Yes. Leave it blank and we work it out from the original loan. Type it in from your statement for the closest result.
Is this for buying a home?
No, it's for a loan you already have. To compare homes before you buy, use the True Cost of Homeownership Calculator.
Is there a blank version?
Yes. Every download has two files: one filled with examples so you can see how everything works, and a blank copy ready for your own household. Your rates and settings come filled in as a starting point, so change them to match yours.
Can I change the formulas?
The gray formula cells are locked so they can't be erased by accident. If you really want to change one, open Review in Excel and choose Unprotect Sheet. There's no password.
Does it work in Google Sheets?
Yes. Upload the file to Google Drive and open it with Google Sheets. The math works the same. Locks don't carry over, so just type in the yellow cells.
How do Free Lifetime Updates work?
Whenever we release a new version, you can download it free from your account, forever. We'll email you when there's something new.
