Remaining Loan Balance Calculator
What do you still owe after some payments?
Balance math stays on this page — private and instantYour payment breakdown appears here
Fill in the loan details and press Calculate — the monthly payment, total interest and schedule will render right on this page, with nothing sent to any server.
How to use
After paying on a loan for a while, the remaining balance is rarely what you expect — the schedule front-loads interest, so the principal shrinks slowly at first. This calculator works out exactly what you still owe after any number of payments.
How to use
- Enter the original loan amount, APR and term in years.
- Enter how many months you have already paid.
- Press Calculate to see the remaining balance, the months left and the interest paid so far.
Example
A $20,000 loan at 6.5% for 5 years has a payment of about $391. After 24 payments you still owe roughly $12,770 — you have paid about $9,390 in total, but only about $7,230 went to principal and $2,160 to interest. Two years in, you still owe 63% of the original loan.
Formula
Balance = P(1+r)^k − PMT·((1+r)^k − 1)/r, where k is the number of payments made. This is the future value of the loan minus the future value of the payments.
Why the balance seems high
Early payments are interest-heavy, so the principal falls slowly at first and accelerates later. Extra or rounded-up payments chip the balance faster than the schedule — this tool assumes you paid exactly the scheduled amount.
Use it before a payoff decision
Knowing your true remaining balance is the first step before requesting a payoff quote or refinancing. Compare it with the loan payoff tool to see what settling today would save.
Rounded payments help
Many borrowers pay slightly more than scheduled — rounding up to the nearest dollar or $10. If you do, your real balance is a little lower than this estimate; treat the result as an upper bound and check your statement for the exact figure.
FAQ
Why is the balance still high after two years?
Early payments are mostly interest; principal accelerates later as the interest share shrinks.
Does this assume exact scheduled payments?
Yes — if you paid extra or rounded up, your real balance is lower. Enter your actual paid months for a closer estimate.
Can I use this for a mortgage?
Yes, the math is identical for any amortizing loan.
What is the remaining months number?
The original term minus the months you have paid — the time left on the original schedule.
Reviewed by the LoanMath editorial team