Amortization Schedule


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
May, 2029 Jul, 2028


Reverse Mortgage Early Payoff Amortization Schedule

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



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