I have a 30 year mortgage with a $189,000.00 balance at 6.785 % and 19 years remaining on the mortgage. I want to pay a lump sum to pay off this mortgage as a buy out. What percentage of my mortgage would I save from the mortgage company by making a lump sum payment, what and how much money would I save? Also, how much should I offer the mortgage company as a lump sum payment ?

Why do you think the lender would accept anything less than the total balance that's currently due?

If you pay off the balance now then you'll save 19 years of interest payments.

Lisa is right, if you want to pay this off, then call the lender and ask for a payoff balance. They will take nothing less. But why would you want to do this? While 6.785% is a bit high, With the tax advantages of the mortgage and the income you would lose on the $190K you are going to take a bath here.

If you have that kind of cash laying around, refi into a 15 yr fixed at a low interest rate and put the rest in a stable investment. You are paying interest but its all tax deductible so in the end, it actually benefits you more to NOT pay off your mortgage.