Mortgage, Escrow & Payoff Planner — See What Extra Payments Really Do

On a $360,000 loan at 6.5%, an extra $100 a month saves you $62,908 in interest and pays the house off three and a half years early.

Nobody tells you that. Your servicer certainly will not. This workbook shows you your version of that number in about five minutes.

What it does

• Payoff Scenarios — six extra-payment amounts side by side. Months to payoff, years saved, total interest, and exactly how much each one saves you. This is the page people screenshot.
• Loan Inputs — ten numbers off your closing disclosure, and every headline figure calculates: true monthly payment with taxes, insurance, PMI and HOA; total interest over the life of the loan; your real payoff date.
• Amortization — all 480 possible payments with principal, interest, extra payments, running balance and loan-to-value. Type an extra payment into the inputs and the whole schedule rebuilds around it.
• PMI section — the exact date you can write to your lender and request cancellation at 80% LTV, the date it terminates automatically at 78%, and how much PMI you have left to pay if you do nothing.
• Escrow Tracker — checks whether your servicer is over-collecting against the federal two-month cushion cap, and logs the account month by month.

The maths is right

Interest is calculated exactly — full payments for every month but the last, plus one partial final payment. The scenario tab ties out to the amortization schedule to the cent. No rounding fudge, no approximations dressed up as answers.

Details

• Works in Microsoft Excel, Google Sheets, Apple Numbers and LibreOffice
• Instant download
• Handles 15, 20, 30 and 40-year terms
• Yours forever, single-user licence

A planning tool, not financial or tax advice, and no substitute for your lender's figures. PMI rules described are the federal Homeowners Protection Act defaults for conventional loans; FHA MIP works differently. Confirm with your servicer in writing.