Payoff Workbench · a page that remembers your loan

What does an extra hundred a month actually buy?

Set your loan once — this page keeps it. Add extra principal and read the answer the way a banker would: a new payoff date, interest returned to you, and the rate your loan now behaves like.

The loan
Extra principal
Or work backward from a goal

Read the results from the amounts above.

I can afford this much per month, all-in.

I want to be done in this many years.

The verdict

Sep 2054 Feb 2049

Debt-free 5 years 7 months sooner.

$2,465required payment
+$200extra principal / mo
$97,000interest you keep
$341,000interest still paid
5.31%

Your 6.75% loan now costs what a 5.31% loan would over the same term with no extra payments. That spread is yours, not the bank's.

Two versions of the same loan

As written336 payments
With your extra principal269 payments
principal interest months you skip

If you found a little more

Figures are standard amortization, computed on this page as you type; nothing is sent anywhere. Your numbers stay saved to this page and sync to your other devices. Tell your AI “set the loan to my real one” and it can update these fields for you. Not financial advice — your lender’s ledger wins.