To calculate the payoff amount for your mortgage, you'd typically include the remaining balance plus any interest accrued up to the time of payoff. Since you mentioned that your current balance is $278,000 and your monthly payment is $1,700, I’ll assume you are looking for an estimate on what the payoff amount would be if you decided to pay off the mortgage next month.
Here’s how you can generally calculate the payoff amount:
1. **Interest