Loan Balance Calculator
Calculate how much principal you still owe on a loan after making a certain number of monthly payments.
What This Calculator Does
This calculator finds the remaining principal balance on an amortizing loan after a given number of monthly payments have been made — useful for understanding a payoff amount or how much equity you’ve built.
The Method
It first computes the fixed monthly payment using the standard amortization formula, then applies the remaining-balance formula: B = P(1+r)^p − M × [((1+r)^p − 1) / r], where P is the original loan amount, r is the monthly interest rate, p is the number of payments made, and M is the monthly payment.
Note: This assumes all payments were made on schedule with no extra principal payments, fees, or missed payments. If you’ve made extra payments toward principal, your actual balance will be lower than this estimate.
This tool is for general educational and planning purposes only and is not financial advice.