How long will it take to pay off my mortgage?

See how a few smart decisions could help you pay off your house faster.

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Small changes can help you shave years off the length of your mortgage. Use our calculator to find out how quickly you can pay off your home by making extra payments.

Calculator fields

  • Loan amount. This refers to how much you owe on your mortgage or plan to borrow from a lender.
  • Interest rate. You can find this rate out on your mortgage statement or by looking at the product review page for the home loan you’re interested in.
  • Repayments. These are the payments you make towards your loan to pay if off.
  • Repayment frequency. This refers to how often you’ll make payments. You can choose weekly, fortnightly/biweekly or monthly installments depending on your pay structure, loan terms and personal preference.

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Why we like: LendingTree

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Ready for a home loan? Compare rates below

Name Product Min. credit score State availability Loans offered
New American Funding
620
Not available in: HI, NY
Conventional , Refinance, Jumbo, HELOC, FHA, VA, USDA, Reverse
Loan officers work with you to find the right mortgage to fit your lifestyle and budget.
Axos Bank
620
Available in all states
Conventional, Refinance, Jumbo, Home Equity, Fixed, Adjustable, FHA, VA, USDA
Explore a full suite of home loan options with this direct online lender.
Figure Refinance
600
AK, AL, AZ, CA, DE, FL, GA, IA, ID, IN, KS, KY, LA, MA, MI, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, OH, PA, SD, TN, WA, WI, WV
Refinance
Apply in minutes for a cash-out refinance quote that won't hurt your credit.
Credible
620
Not available in: AZ, HI, MO, NV, NY, RI, UT, WA, WV
Conventional, Refinance, Jumbo
Prequalify in minutes and then compare home loan options from several top online lenders.
LendingTree
620
Available in all states
Conventional, Refinance, Home Equity, HELOC, Jumbo, Reverse, FHA, VA, USDA
Connect with vetted home loan lenders quickly through this online marketplace.
LoanDepot
620
Available in all states
Conventional, Refinance, Home Equity, Jumbo, Fixed, Adjustable, FHA, VA, USDA
A nontraditional lender offering impartial guidance on a range of loans.
Rocket Mortgage
620
Available in all states
Conventional, Refinance, Jumbo, FHA, VA, USDA
Streamline your mortgage from quote to final payment — all from your computer or phone.

Compare up to 4 providers

Tips to pay off your mortgage faster

  • Make payments more often. Make biweekly instead of monthly mortgage repayments. Because there are a little over four weeks in a month, you’ll end up make two extra payments a year.
  • Repay more when you have unexpected funds. Consider dumping your tax refunds, work bonuses or dividends from any other investments. This can also help you cut down the interest payable.
  • Increase your payments when interest rates are low. If you have a variable interest rate, keep making the same (or higher) monthly payments when your interest rate goes down — the difference will go directly to your principal.
  • Consider refinancing. Your loan may not be the most competitive product on the market anymore. Consider refinancing to a mortgage with a lower interest rate.

Bottom line

Paying extra on your mortgage can help you cut down the length of your loan and save money on interest. If your interest rate is so high you can barely afford your monthly payments as-is, consider switching to a new, more competitive mortgage.

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