Reverse Mortgage Payoff Calculator

Reverse Mortgage Payoff Calculator with amortization schedule to calculate how much earlier you can payoff your reverse mortgage with extra payment and check the interest payment savings.

Reverse Mortgage Early Payoff Calculator
Reverse Mortgage Balance	$
Interest Rate
Current Monthly Payment	$
Extra Monthly Payment	$
	OR
Desired Payoff Years	years

Reverse Mortgage vs. Early Payoff
	Original	Early Payoff
Monthly Payment	$2,325.72	$2,705.72
Expected Payoff Time	61 months	51 months
Total Interest	$20,121.40	$16,805.08
Total Principal	$120,000.00	$120,000.00
Total Payment	$140,121.40	$136,805.08
Total Interest Savings	$0	$3,316.32
Payoff Date	Dec, 2028	Feb, 2028

Reverse Mortgage Early Payoff Amortization Schedule
Payment Date	Payment #	Interest Paid	Principal Paid	Total Payment	Remaining Balance
Dec, 2023	1	$625.00	$2,080.72	$2,705.72	$117,919.28
Jan, 2024	2	$614.16	$2,091.56	$2,705.72	$115,827.72
Feb, 2024	3	$603.27	$2,102.45	$2,705.72	$113,725.27
Mar, 2024	4	$592.32	$2,113.40	$2,705.72	$111,611.87
Apr, 2024	5	$581.31	$2,124.41	$2,705.72	$109,487.46
May, 2024	6	$570.25	$2,135.47	$2,705.72	$107,351.99
Jun, 2024	7	$559.12	$2,146.60	$2,705.72	$105,205.40
Jul, 2024	8	$547.94	$2,157.78	$2,705.72	$103,047.62
Aug, 2024	9	$536.71	$2,169.01	$2,705.72	$100,878.61
Sep, 2024	10	$525.41	$2,180.31	$2,705.72	$98,698.30
Oct, 2024	11	$514.05	$2,191.67	$2,705.72	$96,506.63
Nov, 2024	12	$502.64	$2,203.08	$2,705.72	$94,303.55
Dec, 2024	13	$491.16	$2,214.56	$2,705.72	$92,088.99
Jan, 2025	14	$479.63	$2,226.09	$2,705.72	$89,862.90
Feb, 2025	15	$468.04	$2,237.68	$2,705.72	$87,625.22
Mar, 2025	16	$456.38	$2,249.34	$2,705.72	$85,375.88
Apr, 2025	17	$444.67	$2,261.05	$2,705.72	$83,114.83
May, 2025	18	$432.89	$2,272.83	$2,705.72	$80,842.00
Jun, 2025	19	$421.05	$2,284.67	$2,705.72	$78,557.33
Jul, 2025	20	$409.15	$2,296.57	$2,705.72	$76,260.76
Aug, 2025	21	$397.19	$2,308.53	$2,705.72	$73,952.23
Sep, 2025	22	$385.17	$2,320.55	$2,705.72	$71,631.68
Oct, 2025	23	$373.08	$2,332.64	$2,705.72	$69,299.04
Nov, 2025	24	$360.93	$2,344.79	$2,705.72	$66,954.25
Dec, 2025	25	$348.72	$2,357.00	$2,705.72	$64,597.25
Jan, 2026	26	$336.44	$2,369.28	$2,705.72	$62,227.98
Feb, 2026	27	$324.10	$2,381.62	$2,705.72	$59,846.36
Mar, 2026	28	$311.70	$2,394.02	$2,705.72	$57,452.34
Apr, 2026	29	$299.23	$2,406.49	$2,705.72	$55,045.85
May, 2026	30	$286.70	$2,419.02	$2,705.72	$52,626.83
Jun, 2026	31	$274.10	$2,431.62	$2,705.72	$50,195.21
Jul, 2026	32	$261.43	$2,444.29	$2,705.72	$47,750.92
Aug, 2026	33	$248.70	$2,457.02	$2,705.72	$45,293.90
Sep, 2026	34	$235.91	$2,469.81	$2,705.72	$42,824.09
Oct, 2026	35	$223.04	$2,482.68	$2,705.72	$40,341.41
Nov, 2026	36	$210.11	$2,495.61	$2,705.72	$37,845.80
Dec, 2026	37	$197.11	$2,508.61	$2,705.72	$35,337.20
Jan, 2027	38	$184.05	$2,521.67	$2,705.72	$32,815.53
Feb, 2027	39	$170.91	$2,534.81	$2,705.72	$30,280.72
Mar, 2027	40	$157.71	$2,548.01	$2,705.72	$27,732.71
Apr, 2027	41	$144.44	$2,561.28	$2,705.72	$25,171.43
May, 2027	42	$131.10	$2,574.62	$2,705.72	$22,596.81
Jun, 2027	43	$117.69	$2,588.03	$2,705.72	$20,008.79
Jul, 2027	44	$104.21	$2,601.51	$2,705.72	$17,407.28
Aug, 2027	45	$90.66	$2,615.06	$2,705.72	$14,792.22
Sep, 2027	46	$77.04	$2,628.68	$2,705.72	$12,163.54
Oct, 2027	47	$63.35	$2,642.37	$2,705.72	$9,521.18
Nov, 2027	48	$49.59	$2,656.13	$2,705.72	$6,865.05
Dec, 2027	49	$35.76	$2,669.96	$2,705.72	$4,195.08
Jan, 2028	50	$21.85	$2,683.87	$2,705.72	$1,511.21
Feb, 2028	51	$7.87	$1,511.21	$1,519.08	$0.00

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