Mortgage Payoff Calculator with Line of Credit BETA VERSION

This spreadsheet is still being tested.

MORTGAGE Information BUDGET Information LINE OF CREDIT Information

Loan Amount 180,000 Monthly Income 6,000.00 Starting Annual Rate 6.000%
Fixed Annual Interest Rate 6.000% Monthly Non-PI Expenses 4,420.81 Amount to Transfer 10,000
Term (years) 30 Monthly Loan Payment 1,079.19 Paycheck Parking? Yes
Loan Issue Date 1/1/2018 Free Cash Flow * 500.00 Days in Year 365
Monthly Payment 1,079.19 * Used to make extra payments or pay off the line of credit

Scenario 1: Traditional Amortization Scenario 2: Regular Extra Payments Scenario 3: Using a Line of Credit
Total Interest 208,509 Total Interest 87,160 Total Interest 0
Years to Pay Off 30 Years to Pay Off 14 3/12 Years to Pay Off 0
Interest Savings 0 Interest Savings 121,349 Interest Savings 208,509

Line of Credit Balance

20,000
18,000
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
43101

MORTGAGE ACCOUNT LINE OF CREDIT ACCOUNT TRADITIONAL (No Extra Payments) TRADITIONAL With Extra Payments
Pmt Principal Principal Payment Interest Interest Interest LOC Prin. LOC Total Pmt Pmt
Date Payment Interest Rate Payment Draw Date Payment Interest Principal Balance Date Payment Interest Principal Balance
No. Paid Balance to Mrtg Accrued Paid Balance Paid Balance Owed No. No.
1/1/2018 10,000.00 10,000.00 170,000.00 6.000% 6,000.00 10,000.00 0.00 -4000.00 4,000.00 174,000.00 0 1/1/2018 180,000.00 0 1/1/2018 180,000.00
#N/A 1 2/1/2018 1,079.19 900.00 179.19 179,820.81 1 2/1/2018 1,579.19 900.00 679.19 179,320.81
2 3/1/2018 1,079.19 899.10 180.09 179,640.72 2 3/1/2018 1,579.19 896.60 682.59 178,638.22
3 4/1/2018 1,079.19 898.20 180.99 179,459.73 3 4/1/2018 1,579.19 893.19 686.00 177,952.22
4 5/1/2018 1,079.19 897.30 181.89 179,277.84 4 5/1/2018 1,579.19 889.76 689.43 177,262.79
5 6/1/2018 1,079.19 896.39 182.80 179,095.04 5 6/1/2018 1,579.19 886.31 692.88 176,569.92
6 7/1/2018 1,079.19 895.48 183.72 178,911.33 6 7/1/2018 1,579.19 882.85 696.34 175,873.57
7 8/1/2018 1,079.19 894.56 184.63 178,726.69 7 8/1/2018 1,579.19 879.37 699.82 175,173.75
8 9/1/2018 1,079.19 893.63 185.56 178,541.13 8 9/1/2018 1,579.19 875.87 703.32 174,470.43
9 10/1/2018 1,079.19 892.71 186.49 178,354.65 9 10/1/2018 1,579.19 872.35 706.84 173,763.59
10 11/1/2018 1,079.19 891.77 187.42 178,167.23 10 11/1/2018 1,579.19 868.82 710.37 173,053.22
11 12/1/2018 1,079.19 890.84 188.35 177,978.88 11 12/1/2018 1,579.19 865.27 713.92 172,339.29
12 1/1/2019 1,079.19 889.89 189.30 177,789.58 12 1/1/2019 1,579.19 861.70 717.49 171,621.80
13 2/1/2019 1,079.19 888.95 190.24 177,599.34 13 2/1/2019 1,579.19 858.11 721.08 170,900.72
14 3/1/2019 1,079.19 888.00 191.19 177,408.14 14 3/1/2019 1,579.19 854.50 724.69 170,176.03
15 4/1/2019 1,079.19 887.04 192.15 177,215.99 15 4/1/2019 1,579.19 850.88 728.31 169,447.72
16 5/1/2019 1,079.19 886.08 193.11 177,022.88 16 5/1/2019 1,579.19 847.24 731.95 168,715.77
17 6/1/2019 1,079.19 885.11 194.08 176,828.80 17 6/1/2019 1,579.19 843.58 735.61 167,980.15
18 7/1/2019 1,079.19 884.14 195.05 176,633.76 18 7/1/2019 1,579.19 839.90 739.29 167,240.86
19 8/1/2019 1,079.19 883.17 196.02 176,437.73 19 8/1/2019 1,579.19 836.20 742.99 166,497.88
20 9/1/2019 1,079.19 882.19 197.00 176,240.73 20 9/1/2019 1,579.19 832.49 746.70 165,751.17
21 10/1/2019 1,079.19 881.20 197.99 176,042.75 21 10/1/2019 1,579.19 828.76 750.44 165,000.74
22 11/1/2019 1,079.19 880.21 198.98 175,843.77 22 11/1/2019 1,579.19 825.00 754.19 164,246.55
23 12/1/2019 1,079.19 879.22 199.97 175,643.80 23 12/1/2019 1,579.19 821.23 757.96 163,488.59
24 1/1/2020 1,079.19 878.22 200.97 175,442.82 24 1/1/2020 1,579.19 817.44 761.75 162,726.85
25 2/1/2020 1,079.19 877.21 201.98 175,240.85 25 2/1/2020 1,579.19 813.63 765.56 161,961.29
26 3/1/2020 1,079.19 876.20 202.99 175,037.86 26 3/1/2020 1,579.19 809.81 769.38 161,191.91
27 4/1/2020 1,079.19 875.19 204.00 174,833.86 27 4/1/2020 1,579.19 805.96 773.23 160,418.67
28 5/1/2020 1,079.19 874.17 205.02 174,628.84 28 5/1/2020 1,579.19 802.09 777.10 159,641.58
29 6/1/2020 1,079.19 873.14 206.05 174,422.79 29 6/1/2020 1,579.19 798.21 780.98 158,860.59
30 7/1/2020 1,079.19 872.11 207.08 174,215.71 30 7/1/2020 1,579.19 794.30 784.89 158,075.71
31 8/1/2020 1,079.19 871.08 208.11 174,007.60 31 8/1/2020 1,579.19 790.38 788.81 157,286.89
32 9/1/2020 1,079.19 870.04 209.15 173,798.45 32 9/1/2020 1,579.19 786.43 792.76 156,494.14
33 10/1/2020 1,079.19 868.99 210.20 173,588.25 33 10/1/2020 1,579.19 782.47 796.72 155,697.42
34 11/1/2020 1,079.19 867.94 211.25 173,377.00 34 11/1/2020 1,579.19 778.49 800.70 154,896.71
35 12/1/2020 1,079.19 866.88 212.31 173,164.69 35 12/1/2020 1,579.19 774.48 804.71 154,092.00
36 1/1/2021 1,079.19 865.82 213.37 172,951.33 36 1/1/2021 1,579.19 770.46 808.73 153,283.27
37 2/1/2021 1,079.19 864.76 214.43 172,736.89 37 2/1/2021 1,579.19 766.42 812.77 152,470.50
38 3/1/2021 1,079.19 863.68 215.51 172,521.39 38 3/1/2021 1,579.19 762.35 816.84 151,653.66
39 4/1/2021 1,079.19 862.61 216.58 172,304.80 39 4/1/2021 1,579.19 758.27 820.92 150,832.74
40 5/1/2021 1,079.19 861.52 217.67 172,087.13 40 5/1/2021 1,579.19 754.16 825.03 150,007.71
41 6/1/2021 1,079.19 860.44 218.76 171,868.38 41 6/1/2021 1,579.19 750.04 829.15 149,178.56
42 7/1/2021 1,079.19 859.34 219.85 171,648.53 42 7/1/2021 1,579.19 745.89 833.30 148,345.26
43 8/1/2021 1,079.19 858.24 220.95 171,427.58 43 8/1/2021 1,579.19 741.73 837.46 147,507.80
44 9/1/2021 1,079.19 857.14 222.05 171,205.53 44 9/1/2021 1,579.19 737.54 841.65 146,666.14
45 10/1/2021 1,079.19 856.03 223.16 170,982.37 45 10/1/2021 1,579.19 733.33 845.86 145,820.28
46 11/1/2021 1,079.19 854.91 224.28 170,758.09 46 11/1/2021 1,579.19 729.10 850.09 144,970.19
47 12/1/2021 1,079.19 853.79 225.40 170,532.69 47 12/1/2021 1,579.19 724.85 854.34 144,115.85
48 1/1/2022 1,079.19 852.66 226.53 170,306.16 48 1/1/2022 1,579.19 720.58 858.61 143,257.24
49 2/1/2022 1,079.19 851.53 227.66 170,078.50 49 2/1/2022 1,579.19 716.29 862.90 142,394.34
50 3/1/2022 1,079.19 850.39 228.80 169,849.70 50 3/1/2022 1,579.19 711.97 867.22 141,527.12
51 4/1/2022 1,079.19 849.25 229.94 169,619.76 51 4/1/2022 1,579.19 707.64 871.56 140,655.56
52 5/1/2022 1,079.19 848.10 231.09 169,388.67 52 5/1/2022 1,579.19 703.28 875.91 139,779.65
53 6/1/2022 1,079.19 846.94 232.25 169,156.42 53 6/1/2022 1,579.19 698.90 880.29 138,899.36
54 7/1/2022 1,079.19 845.78 233.41 168,923.01 54 7/1/2022 1,579.19 694.50 884.69 138,014.66
55 8/1/2022 1,079.19 844.62 234.58 168,688.43 55 8/1/2022 1,579.19 690.07 889.12 137,125.55
56 9/1/2022 1,079.19 843.44 235.75 168,452.68 56 9/1/2022 1,579.19 685.63 893.56 136,231.98
57 10/1/2022 1,079.19 842.26 236.93 168,215.76 57 10/1/2022 1,579.19 681.16 898.03 135,333.95

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58 11/1/2022 1,079.19 841.08 238.11 167,977.64 58 11/1/2022 1,579.19 676.67 902.52 134,431.43
59 12/1/2022 1,079.19 839.89 239.30 167,738.34 59 12/1/2022 1,579.19 672.16 907.03 133,524.40
60 1/1/2023 1,079.19 838.69 240.50 167,497.84 60 1/1/2023 1,579.19 667.62 911.57 132,612.83
61 2/1/2023 1,079.19 837.49 241.70 167,256.14 61 2/1/2023 1,579.19 663.06 916.13 131,696.70
62 3/1/2023 1,079.19 836.28 242.91 167,013.23 62 3/1/2023 1,579.19 658.48 920.71 130,775.99
63 4/1/2023 1,079.19 835.07 244.12 166,769.11 63 4/1/2023 1,579.19 653.88 925.31 129,850.68
64 5/1/2023 1,079.19 833.85 245.35 166,523.76 64 5/1/2023 1,579.19 649.25 929.94 128,920.74
65 6/1/2023 1,079.19 832.62 246.57 166,277.19 65 6/1/2023 1,579.19 644.60 934.59 127,986.16
66 7/1/2023 1,079.19 831.39 247.81 166,029.38 66 7/1/2023 1,579.19 639.93 939.26 127,046.90
67 8/1/2023 1,079.19 830.15 249.04 165,780.34 67 8/1/2023 1,579.19 635.23 943.96 126,102.94
68 9/1/2023 1,079.19 828.90 250.29 165,530.05 68 9/1/2023 1,579.19 630.51 948.68 125,154.26
69 10/1/2023 1,079.19 827.65 251.54 165,278.51 69 10/1/2023 1,579.19 625.77 953.42 124,200.84
70 11/1/2023 1,079.19 826.39 252.80 165,025.71 70 11/1/2023 1,579.19 621.00 958.19 123,242.66
71 12/1/2023 1,079.19 825.13 254.06 164,771.65 71 12/1/2023 1,579.19 616.21 962.98 122,279.68
72 1/1/2024 1,079.19 823.86 255.33 164,516.32 72 1/1/2024 1,579.19 611.40 967.79 121,311.89
73 2/1/2024 1,079.19 822.58 256.61 164,259.71 73 2/1/2024 1,579.19 606.56 972.63 120,339.26
74 3/1/2024 1,079.19 821.30 257.89 164,001.81 74 3/1/2024 1,579.19 601.70 977.49 119,361.76
75 4/1/2024 1,079.19 820.01 259.18 163,742.63 75 4/1/2024 1,579.19 596.81 982.38 118,379.38
76 5/1/2024 1,079.19 818.71 260.48 163,482.15 76 5/1/2024 1,579.19 591.90 987.29 117,392.09
77 6/1/2024 1,079.19 817.41 261.78 163,220.37 77 6/1/2024 1,579.19 586.96 992.23 116,399.85
78 7/1/2024 1,079.19 816.10 263.09 162,957.28 78 7/1/2024 1,579.19 582.00 997.19 115,402.66
79 8/1/2024 1,079.19 814.79 264.40 162,692.88 79 8/1/2024 1,579.19 577.01 1,002.18 114,400.49
80 9/1/2024 1,079.19 813.46 265.73 162,427.15 80 9/1/2024 1,579.19 572.00 1,007.19 113,393.30
81 10/1/2024 1,079.19 812.14 267.06 162,160.10 81 10/1/2024 1,579.19 566.97 1,012.22 112,381.07
82 11/1/2024 1,079.19 810.80 268.39 161,891.71 82 11/1/2024 1,579.19 561.91 1,017.29 111,363.79
83 12/1/2024 1,079.19 809.46 269.73 161,621.98 83 12/1/2024 1,579.19 556.82 1,022.37 110,341.41
84 1/1/2025 1,079.19 808.11 271.08 161,350.89 84 1/1/2025 1,579.19 551.71 1,027.48 109,313.93
85 2/1/2025 1,079.19 806.75 272.44 161,078.46 85 2/1/2025 1,579.19 546.57 1,032.62 108,281.31
86 3/1/2025 1,079.19 805.39 273.80 160,804.66 86 3/1/2025 1,579.19 541.41 1,037.78 107,243.53
87 4/1/2025 1,079.19 804.02 275.17 160,529.49 87 4/1/2025 1,579.19 536.22 1,042.97 106,200.55
88 5/1/2025 1,079.19 802.65 276.54 160,252.95 88 5/1/2025 1,579.19 531.00 1,048.19 105,152.36
89 6/1/2025 1,079.19 801.26 277.93 159,975.02 89 6/1/2025 1,579.19 525.76 1,053.43 104,098.93
90 7/1/2025 1,079.19 799.88 279.32 159,695.71 90 7/1/2025 1,579.19 520.49 1,058.70 103,040.24
91 8/1/2025 1,079.19 798.48 280.71 159,414.99 91 8/1/2025 1,579.19 515.20 1,063.99 101,976.25
92 9/1/2025 1,079.19 797.07 282.12 159,132.88 92 9/1/2025 1,579.19 509.88 1,069.31 100,906.94
93 10/1/2025 1,079.19 795.66 283.53 158,849.35 93 10/1/2025 1,579.19 504.53 1,074.66 99,832.28
94 11/1/2025 1,079.19 794.25 284.94 158,564.41 94 11/1/2025 1,579.19 499.16 1,080.03 98,752.25
95 12/1/2025 1,079.19 792.82 286.37 158,278.04 95 12/1/2025 1,579.19 493.76 1,085.43 97,666.82
96 1/1/2026 1,079.19 791.39 287.80 157,990.24 96 1/1/2026 1,579.19 488.33 1,090.86 96,575.97
97 2/1/2026 1,079.19 789.95 289.24 157,701.00 97 2/1/2026 1,579.19 482.88 1,096.31 95,479.66
98 3/1/2026 1,079.19 788.50 290.69 157,410.31 98 3/1/2026 1,579.19 477.40 1,101.79 94,377.86
99 4/1/2026 1,079.19 787.05 292.14 157,118.17 99 4/1/2026 1,579.19 471.89 1,107.30 93,270.56
100 5/1/2026 1,079.19 785.59 293.60 156,824.57 100 5/1/2026 1,579.19 466.35 1,112.84 92,157.72
101 6/1/2026 1,079.19 784.12 295.07 156,529.50 101 6/1/2026 1,579.19 460.79 1,118.40 91,039.32
102 7/1/2026 1,079.19 782.65 296.54 156,232.96 102 7/1/2026 1,579.19 455.20 1,123.99 89,915.33
103 8/1/2026 1,079.19 781.16 298.03 155,934.93 103 8/1/2026 1,579.19 449.58 1,129.61 88,785.71
104 9/1/2026 1,079.19 779.67 299.52 155,635.42 104 9/1/2026 1,579.19 443.93 1,135.26 87,650.45
105 10/1/2026 1,079.19 778.18 301.01 155,334.40 105 10/1/2026 1,579.19 438.25 1,140.94 86,509.51
106 11/1/2026 1,079.19 776.67 302.52 155,031.89 106 11/1/2026 1,579.19 432.55 1,146.64 85,362.87
107 12/1/2026 1,079.19 775.16 304.03 154,727.85 107 12/1/2026 1,579.19 426.81 1,152.38 84,210.49
108 1/1/2027 1,079.19 773.64 305.55 154,422.30 108 1/1/2027 1,579.19 421.05 1,158.14 83,052.35
109 2/1/2027 1,079.19 772.11 307.08 154,115.22 109 2/1/2027 1,579.19 415.26 1,163.93 81,888.42
110 3/1/2027 1,079.19 770.58 308.61 153,806.61 110 3/1/2027 1,579.19 409.44 1,169.75 80,718.67
111 4/1/2027 1,079.19 769.03 310.16 153,496.45 111 4/1/2027 1,579.19 403.59 1,175.60 79,543.08
112 5/1/2027 1,079.19 767.48 311.71 153,184.74 112 5/1/2027 1,579.19 397.72 1,181.48 78,361.60
113 6/1/2027 1,079.19 765.92 313.27 152,871.47 113 6/1/2027 1,579.19 391.81 1,187.38 77,174.22
114 7/1/2027 1,079.19 764.36 314.83 152,556.64 114 7/1/2027 1,579.19 385.87 1,193.32 75,980.90
115 8/1/2027 1,079.19 762.78 316.41 152,240.23 115 8/1/2027 1,579.19 379.90 1,199.29 74,781.61
116 9/1/2027 1,079.19 761.20 317.99 151,922.24 116 9/1/2027 1,579.19 373.91 1,205.28 73,576.33
117 10/1/2027 1,079.19 759.61 319.58 151,602.66 117 10/1/2027 1,579.19 367.88 1,211.31 72,365.02
118 11/1/2027 1,079.19 758.01 321.18 151,281.49 118 11/1/2027 1,579.19 361.83 1,217.37 71,147.65
119 12/1/2027 1,079.19 756.41 322.78 150,958.70 119 12/1/2027 1,579.19 355.74 1,223.45 69,924.20
120 1/1/2028 1,079.19 754.79 324.40 150,634.30 120 1/1/2028 1,579.19 349.62 1,229.57 68,694.63
121 2/1/2028 1,079.19 753.17 326.02 150,308.29 121 2/1/2028 1,579.19 343.47 1,235.72 67,458.91
122 3/1/2028 1,079.19 751.54 327.65 149,980.64 122 3/1/2028 1,579.19 337.29 1,241.90 66,217.02
123 4/1/2028 1,079.19 749.90 329.29 149,651.35 123 4/1/2028 1,579.19 331.09 1,248.11 64,968.91
124 5/1/2028 1,079.19 748.26 330.93 149,320.41 124 5/1/2028 1,579.19 324.84 1,254.35 63,714.57
125 6/1/2028 1,079.19 746.60 332.59 148,987.83 125 6/1/2028 1,579.19 318.57 1,260.62 62,453.95
126 7/1/2028 1,079.19 744.94 334.25 148,653.57 126 7/1/2028 1,579.19 312.27 1,266.92 61,187.03
127 8/1/2028 1,079.19 743.27 335.92 148,317.65 127 8/1/2028 1,579.19 305.94 1,273.26 59,913.77
128 9/1/2028 1,079.19 741.59 337.60 147,980.05 128 9/1/2028 1,579.19 299.57 1,279.62 58,634.15
129 10/1/2028 1,079.19 739.90 339.29 147,640.76 129 10/1/2028 1,579.19 293.17 1,286.02 57,348.13
130 11/1/2028 1,079.19 738.20 340.99 147,299.77 130 11/1/2028 1,579.19 286.74 1,292.45 56,055.68
131 12/1/2028 1,079.19 736.50 342.69 146,957.08 131 12/1/2028 1,579.19 280.28 1,298.91 54,756.76
132 1/1/2029 1,079.19 734.79 344.41 146,612.67 132 1/1/2029 1,579.19 273.78 1,305.41 53,451.36
133 2/1/2029 1,079.19 733.06 346.13 146,266.54 133 2/1/2029 1,579.19 267.26 1,311.93 52,139.42
134 3/1/2029 1,079.19 731.33 347.86 145,918.69 134 3/1/2029 1,579.19 260.70 1,318.49 50,820.93
135 4/1/2029 1,079.19 729.59 349.60 145,569.09 135 4/1/2029 1,579.19 254.10 1,325.09 49,495.84
136 5/1/2029 1,079.19 727.85 351.35 145,217.74 136 5/1/2029 1,579.19 247.48 1,331.71 48,164.13
137 6/1/2029 1,079.19 726.09 353.10 144,864.64 137 6/1/2029 1,579.19 240.82 1,338.37 46,825.76
138 7/1/2029 1,079.19 724.32 354.87 144,509.77 138 7/1/2029 1,579.19 234.13 1,345.06 45,480.70
139 8/1/2029 1,079.19 722.55 356.64 144,153.13 139 8/1/2029 1,579.19 227.40 1,351.79 44,128.91
140 9/1/2029 1,079.19 720.77 358.43 143,794.71 140 9/1/2029 1,579.19 220.64 1,358.55 42,770.37
141 10/1/2029 1,079.19 718.97 360.22 143,434.49 141 10/1/2029 1,579.19 213.85 1,365.34 41,405.03
142 11/1/2029 1,079.19 717.17 362.02 143,072.47 142 11/1/2029 1,579.19 207.03 1,372.17 40,032.86
143 12/1/2029 1,079.19 715.36 363.83 142,708.64 143 12/1/2029 1,579.19 200.16 1,379.03 38,653.83
144 1/1/2030 1,079.19 713.54 365.65 142,342.99 144 1/1/2030 1,579.19 193.27 1,385.92 37,267.91
145 2/1/2030 1,079.19 711.71 367.48 141,975.52 145 2/1/2030 1,579.19 186.34 1,392.85 35,875.06
146 3/1/2030 1,079.19 709.88 369.31 141,606.20 146 3/1/2030 1,579.19 179.38 1,399.82 34,475.25
147 4/1/2030 1,079.19 708.03 371.16 141,235.04 147 4/1/2030 1,579.19 172.38 1,406.81 33,068.43
148 5/1/2030 1,079.19 706.18 373.02 140,862.03 148 5/1/2030 1,579.19 165.34 1,413.85 31,654.58
149 6/1/2030 1,079.19 704.31 374.88 140,487.15 149 6/1/2030 1,579.19 158.27 1,420.92 30,233.66
150 7/1/2030 1,079.19 702.44 376.76 140,110.39 150 7/1/2030 1,579.19 151.17 1,428.02 28,805.64
151 8/1/2030 1,079.19 700.55 378.64 139,731.75 151 8/1/2030 1,579.19 144.03 1,435.16 27,370.48
152 9/1/2030 1,079.19 698.66 380.53 139,351.22 152 9/1/2030 1,579.19 136.85 1,442.34 25,928.14
153 10/1/2030 1,079.19 696.76 382.43 138,968.79 153 10/1/2030 1,579.19 129.64 1,449.55 24,478.59
154 11/1/2030 1,079.19 694.84 384.35 138,584.44 154 11/1/2030 1,579.19 122.39 1,456.80 23,021.79
155 12/1/2030 1,079.19 692.92 386.27 138,198.17 155 12/1/2030 1,579.19 115.11 1,464.08 21,557.71
156 1/1/2031 1,079.19 690.99 388.20 137,809.97 156 1/1/2031 1,579.19 107.79 1,471.40 20,086.31
157 2/1/2031 1,079.19 689.05 390.14 137,419.83 157 2/1/2031 1,579.19 100.43 1,478.76 18,607.55
158 3/1/2031 1,079.19 687.10 392.09 137,027.74 158 3/1/2031 1,579.19 93.04 1,486.15 17,121.39

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159 4/1/2031 1,079.19 685.14 394.05 136,633.69 159 4/1/2031 1,579.19 85.61 1,493.58 15,627.81
160 5/1/2031 1,079.19 683.17 396.02 136,237.66 160 5/1/2031 1,579.19 78.14 1,501.05 14,126.76
161 6/1/2031 1,079.19 681.19 398.00 135,839.66 161 6/1/2031 1,579.19 70.63 1,508.56 12,618.20
162 7/1/2031 1,079.19 679.20 399.99 135,439.67 162 7/1/2031 1,579.19 63.09 1,516.10 11,102.10
163 8/1/2031 1,079.19 677.20 401.99 135,037.68 163 8/1/2031 1,579.19 55.51 1,523.68 9,578.42
164 9/1/2031 1,079.19 675.19 404.00 134,633.67 164 9/1/2031 1,579.19 47.89 1,531.30 8,047.12
165 10/1/2031 1,079.19 673.17 406.02 134,227.65 165 10/1/2031 1,579.19 40.24 1,538.96 6,508.17
166 11/1/2031 1,079.19 671.14 408.05 133,819.60 166 11/1/2031 1,579.19 32.54 1,546.65 4,961.52
167 12/1/2031 1,079.19 669.10 410.09 133,409.50 167 12/1/2031 1,579.19 24.81 1,554.38 3,407.13
168 1/1/2032 1,079.19 667.05 412.14 132,997.36 168 1/1/2032 1,579.19 17.04 1,562.16 1,844.98
169 2/1/2032 1,079.19 664.99 414.20 132,583.16 169 2/1/2032 1,579.19 9.22 1,569.97 275.01
170 3/1/2032 1,079.19 662.92 416.28 132,166.88 170 3/1/2032 276.39 1.38 275.01 0.00
171 4/1/2032 1,079.19 660.83 418.36 131,748.53 171 4/1/2032 0.00 0.00 0.00 0.00
172 5/1/2032 1,079.19 658.74 420.45 131,328.08
173 6/1/2032 1,079.19 656.64 422.55 130,905.53
174 7/1/2032 1,079.19 654.53 424.66 130,480.86
175 8/1/2032 1,079.19 652.40 426.79 130,054.08
176 9/1/2032 1,079.19 650.27 428.92 129,625.16
177 10/1/2032 1,079.19 648.13 431.07 129,194.09
178 11/1/2032 1,079.19 645.97 433.22 128,760.87
179 12/1/2032 1,079.19 643.80 435.39 128,325.48
180 1/1/2033 1,079.19 641.63 437.56 127,887.92
181 2/1/2033 1,079.19 639.44 439.75 127,448.17
182 3/1/2033 1,079.19 637.24 441.95 127,006.22
183 4/1/2033 1,079.19 635.03 444.16 126,562.06
184 5/1/2033 1,079.19 632.81 446.38 126,115.68
185 6/1/2033 1,079.19 630.58 448.61 125,667.07
186 7/1/2033 1,079.19 628.34 450.86 125,216.21
187 8/1/2033 1,079.19 626.08 453.11 124,763.10
188 9/1/2033 1,079.19 623.82 455.38 124,307.72
189 10/1/2033 1,079.19 621.54 457.65 123,850.07
190 11/1/2033 1,079.19 619.25 459.94 123,390.13
191 12/1/2033 1,079.19 616.95 462.24 122,927.89
192 1/1/2034 1,079.19 614.64 464.55 122,463.34
193 2/1/2034 1,079.19 612.32 466.87 121,996.47
194 3/1/2034 1,079.19 609.98 469.21 121,527.26
195 4/1/2034 1,079.19 607.64 471.55 121,055.70
196 5/1/2034 1,079.19 605.28 473.91 120,581.79
197 6/1/2034 1,079.19 602.91 476.28 120,105.51
198 7/1/2034 1,079.19 600.53 478.66 119,626.84
199 8/1/2034 1,079.19 598.13 481.06 119,145.79
200 9/1/2034 1,079.19 595.73 483.46 118,662.33
201 10/1/2034 1,079.19 593.31 485.88 118,176.45
202 11/1/2034 1,079.19 590.88 488.31 117,688.14
203 12/1/2034 1,079.19 588.44 490.75 117,197.39
204 1/1/2035 1,079.19 585.99 493.20 116,704.18
205 2/1/2035 1,079.19 583.52 495.67 116,208.51
206 3/1/2035 1,079.19 581.04 498.15 115,710.37
207 4/1/2035 1,079.19 578.55 500.64 115,209.73
208 5/1/2035 1,079.19 576.05 503.14 114,706.58
209 6/1/2035 1,079.19 573.53 505.66 114,200.93
210 7/1/2035 1,079.19 571.00 508.19 113,692.74
211 8/1/2035 1,079.19 568.46 510.73 113,182.01
212 9/1/2035 1,079.19 565.91 513.28 112,668.73
213 10/1/2035 1,079.19 563.34 515.85 112,152.88
214 11/1/2035 1,079.19 560.76 518.43 111,634.46
215 12/1/2035 1,079.19 558.17 521.02 111,113.44
216 1/1/2036 1,079.19 555.57 523.62 110,589.82
217 2/1/2036 1,079.19 552.95 526.24 110,063.57
218 3/1/2036 1,079.19 550.32 528.87 109,534.70
219 4/1/2036 1,079.19 547.67 531.52 109,003.18
220 5/1/2036 1,079.19 545.02 534.18 108,469.01
221 6/1/2036 1,079.19 542.35 536.85 107,932.16
222 7/1/2036 1,079.19 539.66 539.53 107,392.63
223 8/1/2036 1,079.19 536.96 542.23 106,850.40
224 9/1/2036 1,079.19 534.25 544.94 106,305.46
225 10/1/2036 1,079.19 531.53 547.66 105,757.80
226 11/1/2036 1,079.19 528.79 550.40 105,207.40
227 12/1/2036 1,079.19 526.04 553.15 104,654.25
228 1/1/2037 1,079.19 523.27 555.92 104,098.33
229 2/1/2037 1,079.19 520.49 558.70 103,539.63
230 3/1/2037 1,079.19 517.70 561.49 102,978.13
231 4/1/2037 1,079.19 514.89 564.30 102,413.83
232 5/1/2037 1,079.19 512.07 567.12 101,846.71
233 6/1/2037 1,079.19 509.23 569.96 101,276.75
234 7/1/2037 1,079.19 506.38 572.81 100,703.95
235 8/1/2037 1,079.19 503.52 575.67 100,128.28
236 9/1/2037 1,079.19 500.64 578.55 99,549.73
237 10/1/2037 1,079.19 497.75 581.44 98,968.28
238 11/1/2037 1,079.19 494.84 584.35 98,383.93
239 12/1/2037 1,079.19 491.92 587.27 97,796.66
240 1/1/2038 1,079.19 488.98 590.21 97,206.46
241 2/1/2038 1,079.19 486.03 593.16 96,613.30
242 3/1/2038 1,079.19 483.07 596.12 96,017.17
243 4/1/2038 1,079.19 480.09 599.11 95,418.07
244 5/1/2038 1,079.19 477.09 602.10 94,815.97
245 6/1/2038 1,079.19 474.08 605.11 94,210.86
246 7/1/2038 1,079.19 471.05 608.14 93,602.72
247 8/1/2038 1,079.19 468.01 611.18 92,991.54
248 9/1/2038 1,079.19 464.96 614.23 92,377.31
249 10/1/2038 1,079.19 461.89 617.30 91,760.00
250 11/1/2038 1,079.19 458.80 620.39 91,139.61
251 12/1/2038 1,079.19 455.70 623.49 90,516.12
252 1/1/2039 1,079.19 452.58 626.61 89,889.51
253 2/1/2039 1,079.19 449.45 629.74 89,259.77
254 3/1/2039 1,079.19 446.30 632.89 88,626.87
255 4/1/2039 1,079.19 443.13 636.06 87,990.82
256 5/1/2039 1,079.19 439.95 639.24 87,351.58
257 6/1/2039 1,079.19 436.76 642.43 86,709.15
258 7/1/2039 1,079.19 433.55 645.65 86,063.50
259 8/1/2039 1,079.19 430.32 648.87 85,414.63

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260 9/1/2039 1,079.19 427.07 652.12 84,762.51
261 10/1/2039 1,079.19 423.81 655.38 84,107.13
262 11/1/2039 1,079.19 420.54 658.66 83,448.48
263 12/1/2039 1,079.19 417.24 661.95 82,786.53
264 1/1/2040 1,079.19 413.93 665.26 82,121.27
265 2/1/2040 1,079.19 410.61 668.58 81,452.69
266 3/1/2040 1,079.19 407.26 671.93 80,780.76
267 4/1/2040 1,079.19 403.90 675.29 80,105.47
268 5/1/2040 1,079.19 400.53 678.66 79,426.81
269 6/1/2040 1,079.19 397.13 682.06 78,744.75
270 7/1/2040 1,079.19 393.72 685.47 78,059.28
271 8/1/2040 1,079.19 390.30 688.89 77,370.39
272 9/1/2040 1,079.19 386.85 692.34 76,678.05
273 10/1/2040 1,079.19 383.39 695.80 75,982.25
274 11/1/2040 1,079.19 379.91 699.28 75,282.97
275 12/1/2040 1,079.19 376.41 702.78 74,580.19
276 1/1/2041 1,079.19 372.90 706.29 73,873.90
277 2/1/2041 1,079.19 369.37 709.82 73,164.08
278 3/1/2041 1,079.19 365.82 713.37 72,450.71
279 4/1/2041 1,079.19 362.25 716.94 71,733.77
280 5/1/2041 1,079.19 358.67 720.52 71,013.25
281 6/1/2041 1,079.19 355.07 724.12 70,289.13
282 7/1/2041 1,079.19 351.45 727.75 69,561.38
283 8/1/2041 1,079.19 347.81 731.38 68,830.00
284 9/1/2041 1,079.19 344.15 735.04 68,094.96
285 10/1/2041 1,079.19 340.47 738.72 67,356.24
286 11/1/2041 1,079.19 336.78 742.41 66,613.83
287 12/1/2041 1,079.19 333.07 746.12 65,867.71
288 1/1/2042 1,079.19 329.34 749.85 65,117.86
289 2/1/2042 1,079.19 325.59 753.60 64,364.26
290 3/1/2042 1,079.19 321.82 757.37 63,606.89
291 4/1/2042 1,079.19 318.03 761.16 62,845.73
292 5/1/2042 1,079.19 314.23 764.96 62,080.77
293 6/1/2042 1,079.19 310.40 768.79 61,311.98
294 7/1/2042 1,079.19 306.56 772.63 60,539.35
295 8/1/2042 1,079.19 302.70 776.49 59,762.85
296 9/1/2042 1,079.19 298.81 780.38 58,982.48
297 10/1/2042 1,079.19 294.91 784.28 58,198.20
298 11/1/2042 1,079.19 290.99 788.20 57,410.00
299 12/1/2042 1,079.19 287.05 792.14 56,617.86
300 1/1/2043 1,079.19 283.09 796.10 55,821.76
301 2/1/2043 1,079.19 279.11 800.08 55,021.67
302 3/1/2043 1,079.19 275.11 804.08 54,217.59
303 4/1/2043 1,079.19 271.09 808.10 53,409.49
304 5/1/2043 1,079.19 267.05 812.14 52,597.35
305 6/1/2043 1,079.19 262.99 816.20 51,781.14
306 7/1/2043 1,079.19 258.91 820.29 50,960.86
307 8/1/2043 1,079.19 254.80 824.39 50,136.47
308 9/1/2043 1,079.19 250.68 828.51 49,307.96
309 10/1/2043 1,079.19 246.54 832.65 48,475.31
310 11/1/2043 1,079.19 242.38 836.81 47,638.50
311 12/1/2043 1,079.19 238.19 841.00 46,797.50
312 1/1/2044 1,079.19 233.99 845.20 45,952.29
313 2/1/2044 1,079.19 229.76 849.43 45,102.86
314 3/1/2044 1,079.19 225.51 853.68 44,249.19
315 4/1/2044 1,079.19 221.25 857.95 43,391.24
316 5/1/2044 1,079.19 216.96 862.23 42,529.01
317 6/1/2044 1,079.19 212.65 866.55 41,662.46
318 7/1/2044 1,079.19 208.31 870.88 40,791.58
319 8/1/2044 1,079.19 203.96 875.23 39,916.35
320 9/1/2044 1,079.19 199.58 879.61 39,036.74
321 10/1/2044 1,079.19 195.18 884.01 38,152.73
322 11/1/2044 1,079.19 190.76 888.43 37,264.31
323 12/1/2044 1,079.19 186.32 892.87 36,371.44
324 1/1/2045 1,079.19 181.86 897.33 35,474.10
325 2/1/2045 1,079.19 177.37 901.82 34,572.28
326 3/1/2045 1,079.19 172.86 906.33 33,665.95
327 4/1/2045 1,079.19 168.33 910.86 32,755.09
328 5/1/2045 1,079.19 163.78 915.42 31,839.68
329 6/1/2045 1,079.19 159.20 919.99 30,919.68
330 7/1/2045 1,079.19 154.60 924.59 29,995.09
331 8/1/2045 1,079.19 149.98 929.22 29,065.88
332 9/1/2045 1,079.19 145.33 933.86 28,132.01
333 10/1/2045 1,079.19 140.66 938.53 27,193.48
334 11/1/2045 1,079.19 135.97 943.22 26,250.26
335 12/1/2045 1,079.19 131.25 947.94 25,302.32
336 1/1/2046 1,079.19 126.51 952.68 24,349.64
337 2/1/2046 1,079.19 121.75 957.44 23,392.20
338 3/1/2046 1,079.19 116.96 962.23 22,429.97
339 4/1/2046 1,079.19 112.15 967.04 21,462.93
340 5/1/2046 1,079.19 107.31 971.88 20,491.05
341 6/1/2046 1,079.19 102.46 976.74 19,514.32
342 7/1/2046 1,079.19 97.57 981.62 18,532.70
343 8/1/2046 1,079.19 92.66 986.53 17,546.17
344 9/1/2046 1,079.19 87.73 991.46 16,554.71
345 10/1/2046 1,079.19 82.77 996.42 15,558.29
346 11/1/2046 1,079.19 77.79 1,001.40 14,556.89
347 12/1/2046 1,079.19 72.78 1,006.41 13,550.49
348 1/1/2047 1,079.19 67.75 1,011.44 12,539.05
349 2/1/2047 1,079.19 62.70 1,016.50 11,522.55
350 3/1/2047 1,079.19 57.61 1,021.58 10,500.97
351 4/1/2047 1,079.19 52.50 1,026.69 9,474.29
352 5/1/2047 1,079.19 47.37 1,031.82 8,442.47
353 6/1/2047 1,079.19 42.21 1,036.98 7,405.49
354 7/1/2047 1,079.19 37.03 1,042.16 6,363.32
355 8/1/2047 1,079.19 31.82 1,047.37 5,315.95
356 9/1/2047 1,079.19 26.58 1,052.61 4,263.34
357 10/1/2047 1,079.19 21.32 1,057.87 3,205.47
358 11/1/2047 1,079.19 16.03 1,063.16 2,142.30
359 12/1/2047 1,079.19 10.71 1,068.48 1,073.82
360 1/1/2048 1,079.19 5.37 1,073.82 0.00

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361 2/1/2048 1,079.19 0.00 1,079.19 -1,079.19

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HELP

About This Spreadsheet

More Detailed Explanation

Paycheck Parking

Free Cash Flow

Other Notes and Assumptions

About This Spreadsheet
This spreadsheets simulates the technique of using a Line of Credit to help accelerate the
payoff of a mortgage, with optional paycheck parking. It compares 3 scenarios:
Scenario 1: Traditional Mortgage Amortization with No Extra Payments
This scenario is used as the baseline. It represents a person making only the normal monthly
payment each month.
Scenario 2: Using Free Cash Flow to Make Extra Payments
In this scenario, a person uses their Free Cash Flow (income minus expenses) to make
monthly extra principal payments on the mortgage. This scenario does not use a line of credit.
Scenario 3: Using a Line of Credit with optional Paycheck Parking
In this scenario, a person makes a principal-only payment on the mortgage using the line of
credit, then uses their Free Cash Flow to pay off the line of credit balance, then repeats this
More Detailed Explanation
process until the mortgage is paid off.
The following blog article provides examples of different strategies for paying off a mortgage.
The line of credit approach is talked about in detail in strategy 10.

Paycheck Parking
When you select "No", the calculator simulates a person making payments to the line of credit
using the Free Cash Flow amount.
When you select "Yes", the calculator simulates a person depositing their Monthly Income into
the line of credit at the beginning of the month, paying Monthly Non-PI Expenses via a credit
ree Cash Flow
card, then using the line of credit to pay off the credit card AND the Monthly Loan Payment at
the endspreadsheet,
In this of the month.the free cash flow represents the amount of money you have left over after
paying all your expenses each month. This spreadsheet only makes sense if you have a
Other Notespositive
and Assumptions
cash flow.
This spreadsheet is provided only as an educational tool to help analyze and compare
scenarios. The spreadsheet may contain errors. To use the spreadsheet correctly, the user
must
Someunderstand
Assumptions the inputs and calculations.
• This spreadsheet does not take into account taxes or fees.
• The Mortgage is treated as a traditional monthly fixed-rate loan.
• A line of credit is variable rate, but this spreadsheet assumes a fixed rate.
• Payments are first applied to interest. Anything left over is applied to the principal.
• Interest calculations are rounded to the nearest 0.01.