Remaining Loan Balance Calculator

Knowing your exact remaining loan balance is useful when planning a refinance, comparing payoff options, calculating home equity, or verifying your lender's statement. This calculator works by applying the standard amortization balance formula — it computes where you are in the repayment schedule based on your original loan amount, interest rate, term, and number of payments completed. Results include your outstanding principal, the equity built so far, your monthly payment, and how many payments remain. It works for any installment loan: mortgages, auto loans, student loans, or personal loans. Simply enter the original terms as agreed at origination, not your current balance from a statement.

The calculator uses the standard amortization balance formula: Balance = P × (1 + r)^k − M × [(1 + r)^k − 1] / r, where P is the original principal, r is the monthly interest rate (annual rate ÷ 12), k is the number of payments already made, and M is the fixed monthly payment computed from the standard formula M = P × r(1 + r)^n / [(1 + r)^n − 1]. The formula captures exactly how compounding interest accumulates while each fixed payment chips away at the balance. The first term represents the grown principal after k periods of compounding; the second term represents the accumulated value of payments made. The difference is the remaining balance.