Find the last scheduled payment date from the first payment date and term, or estimate payoff from the opening balance, annual note rate, monthly principal-and-interest payment and next payment date. Include recurring extra principal in the payment amount.

Find the last scheduled payment date from the first payment and term.

Monthly fixed-rate principal-and-interest model. In balance mode, the date is the next payment date for the entered balance. Estimated early payoff does not change contractual maturity.

Blank means 0.

Term mode: first scheduled payment. Balance mode: next payment after the entered opening balance.

Mortgage Maturity Date Formula

The following equations are used to calculate the number of payments and the mortgage maturity (payoff) date for a fixed-rate loan with level monthly payments.

i & = (R) / (12) \ N & = (- ln(1 - (iP) / (PMT))) / (ln(1 + i)) (i>0) \ N & = (P) / (PMT) (i = 0) \ MMD & = S + (N - 1) × 1 month
  • Where MMD is the mortgage maturity (payoff) date (the date of the last scheduled payment)
  • S is the first scheduled payment date in term mode, or the next payment date for the entered opening balance in balance mode
  • N is the total number of monthly payments (round up to the next whole payment if needed)
  • P is the loan principal (starting balance)
  • R is the annual interest rate (as a decimal, e.g., 0.06 for 6%)
  • PMT is the monthly payment amount

To calculate the mortgage maturity (payoff) date, first compute N (the number of monthly payments) from the loan amount, interest rate, and monthly payment. Then the payoff date is the date of the Nth payment, which is S + (N − 1) months.

What is a Mortgage Maturity Date?

Definition:

For a fully amortizing mortgage, the mortgage maturity date is the date of the final scheduled payment, when the balance should be paid off in full. After payoff, the homeowner is no longer obligated to make further payments on that loan.

How to Calculate Mortgage Maturity Date?

Example Problem:

The following example outlines the steps and information needed to calculate the Mortgage Maturity Date.

First, determine the number of monthly payments. In this example, it’s a 30-year mortgage, which equals 360 monthly payments.

Next, determine the first payment date. In this case, the first payment is due on January 1, 2020.

Finally, calculate the mortgage maturity (payoff) date using the formula above:

MMD = S + ((N − 1) × 1 month)

MMD = January 1, 2020 + ((360 − 1) × 1 month)

MMD = December 1, 2049

FAQ

Can the maturity (payoff) date be changed?

Making extra payments toward your principal can cause you to pay the loan off early (earlier payoff date). The contractual maturity date in your loan documents typically only changes if you refinance or formally modify the loan.

What happens when my mortgage reaches its maturity date?

For a fully amortizing mortgage, reaching the maturity (payoff) date means the final scheduled payment is made and the balance is paid off. You will typically receive a release or satisfaction of mortgage documentation from your lender after the payoff is processed and recorded.

Does making extra payments reduce the overall interest I pay?

Yes. Making extra payments toward your principal can help you pay off the loan sooner and reduce the total amount of interest you’ll pay over the life of the mortgage, potentially shortening the payoff date.