Mortgage Forbearance Calculator
Understand the true cost of forbearance. Compare deferral, repayment plan, and loan modification options — see your new balance, new payment, and the road back to financial stability.
All three options based on $280,000 balance at 6.5% with 3 missed months.
Comparing your 3 options: take forbearance, sell the home, or refinance before missing payments.
How to Use the Mortgage Forbearance Calculator
This calculator helps homeowners understand the full financial impact of entering mortgage forbearance — whether due to job loss, medical hardship, or another temporary setback.
Quick Calculator
Enter your current loan balance, interest rate, remaining term, and the number of months you expect to miss payments (1–12). Select your forbearance type: deferral (missed payments moved to the end), repayment plan (catch up over several months), or loan modification (permanent term change). The calculator instantly shows your total missed amount, the interest that accrues, and what your new payment will be after forbearance ends.
Advanced: Forbearance Options Comparison
See all three exit options side by side — monthly payment, total extra interest, and best use case for each. The Timeline tab walks through the month-by-month payment schedule from forbearance entry through re-entry. The Credit Impact tab explains how forbearance affects your credit score and when you can refinance.
Pro: Total Cost Analysis
Compare forbearance against selling your home or refinancing before missing payments. The Modification Scenarios tab shows rate reduction, term extension, and combined modification options. The Recovery Plan tab provides a milestone roadmap back to full financial standing.
How Forbearance Interest Is Calculated
During Forbearance (n months):
Month 1 Interest = Balance × r
Month 2 Interest = (Balance + Month 1 Interest) × r
...
New Balance = Original Balance + Sum of All Accrued Interest
New Payment (Deferral) = PMT(rate/12, remaining months, new balance)
Catch-Up Extra = (Missed Payments × Original Payment) / Repayment Months
Unlike a regular missed payment (which triggers default), forbearance is a formal agreement. However, interest continues to accrue on your balance daily even when you make no payments — this is the core cost of deferral-type forbearance.
Example: 3-Month Forbearance on a $280,000 Loan
Balance: $280,000 | Rate: 6.5% | 25 Years Remaining | 3 Months Missed
| Current Monthly Payment | $1,892 |
| Total Missed Payments | $5,676 |
| Interest Accrued (3 months) | $4,536 |
| New Balance (Deferral) | $284,536 |
| New Payment (Deferral) | $1,922/mo (+$30) |
| New Payment (12-mo Repayment) | $2,365/mo (+$473) |
| Extra Long-Term Interest (Deferral) | ~$8,200 |
| Refinance Eligibility (Conventional) | 12 months after exit |
The deferral option feels painless now (no payments for 3 months) but costs about $8,200 in extra interest over the life of the loan. The repayment plan eliminates extra long-term cost but requires a significantly higher payment for 12 months post-forbearance.