Why does payoff show infinite?

Your payment doesn’t cover monthly interest. Increase the payment until a finite payoff appears.

Do fees or variable rates affect this?

Yes. This assumes a fixed rate and no fees. Add fees to balance and rerun or use a higher APR to approximate.

Billing cycle timing?

This adds whole months; actual dates may vary slightly by lender cycle.

Not modeled here. Increase the monthly payment to approximate extras or use a payoff calculator that supports varied payments.

Can I use this for mortgages?

Works for any fixed-rate debt but ignores escrows/fees; use mortgage-specific tools for taxes/insurance/PMI.

finance calculator

Debt Payoff Date Calculator

Find your payoff month and total interest for any debt based on balance, APR, and monthly payment.

Results

Months to payoff: 33.00
Estimated payoff date: 1972-10-01T00:00:00.000Z
Total interest paid: $4,563

How to use this calculator

Enter balance and APR.
Enter your monthly payment and an optional start date.
Review payoff months, payoff date, and total interest.

Inputs explained

Monthly payment: Must exceed monthly interest for payoff to occur.
Start date: Defaults to today if left blank; used to compute the calendar payoff date.

How it works

We apply your monthly payment against interest and principal each month until the balance reaches zero.

Payoff date = start date plus the number of payoff months (uses today if no start date provided).

Total interest is summed across the payoff period.

Formula

Iterative payoff: Interest = Balance × (APR/12); Principal = Payment − Interest; update Balance monthly until zero. Payoff date = Start date + Months.

When to use it

Planning a debt-free date for credit cards or personal loans.
Checking if your payment is high enough to avoid negative amortization.
Comparing how higher payments advance the payoff date.

Tips & cautions

If payoff months show as infinite, your payment is too low—raise it above monthly interest.
Boost payments to shift the payoff date earlier and reduce interest.
Run this for each debt to prioritize highest-APR balances in a snowball/avalanche plan.
Assumes fixed APR and fixed monthly payment; no fees or rate changes modeled.
Payoff date uses simple month addition; exact dates may vary by billing cycle.
If payment ≤ monthly interest, payoff is not possible (shown as infinite).

Worked examples

$15k @ 19.99%, $600/mo, start Jan 1, 2024

Payoff ≈ 33 months
Payoff date ≈ Oct 2026
Total interest ≈ $4,563

$9k @ 15.5%, $400/mo, start Jun 15, 2024

Payoff ≈ 27 months
Payoff date ≈ Sep 2026
Total interest ≈ $1,702

Deep dive

This debt payoff date calculator shows how many months until you’re debt-free, the estimated payoff date, and total interest based on your payment and APR.

Use it to set a debt-free date and test how higher payments move it up.

FAQs

Why does payoff show infinite?: Your payment doesn’t cover monthly interest. Increase the payment until a finite payoff appears.
Do fees or variable rates affect this?: Yes. This assumes a fixed rate and no fees. Add fees to balance and rerun or use a higher APR to approximate.
Billing cycle timing?: This adds whole months; actual dates may vary slightly by lender cycle.
Extra payments?: Not modeled here. Increase the monthly payment to approximate extras or use a payoff calculator that supports varied payments.
Can I use this for mortgages?: Works for any fixed-rate debt but ignores escrows/fees; use mortgage-specific tools for taxes/insurance/PMI.

Related calculators

finance

Debt Snowball & Avalanche Calculator

See payoff time and interest using the snowball or avalanche debt payoff methods.

finance

Credit Card Payoff Calculator

See how long it will take to pay off a credit card balance based on your monthly payment and APR.

finance

Student Loan Payoff Calculator (with Extra Payments)

See how extra monthly payments shorten your student loan payoff time and reduce total interest compared to the standard schedule.

Estimates only. Actual payoff depends on lender billing cycles, fees, and any rate or payment changes. Verify with your lender for exact dates and amounts.