Remaining Loan Balance Calculator

What this does

How the math works

interest = balance × rate per payment
principal = payment − interest
balance = balance − principal

Check my math: a worked example

These numbers come straight from the calculator using its example inputs — if the math ever changes, this example changes with it.

Mistakes I see a lot

• Using the balance from this instead of your payoff quote. A payoff amount adds interest accrued since your last payment (and sometimes fees), so it's a little higher.
• Forgetting extra payments you've made. This assumes every payment was exactly the regular amount.
• Entering the total monthly bill as the payment. Escrow isn't principal or interest.
• Booking the whole loan as long-term. The principal due in the next 12 months is a current liability.

Questions people ask

Why doesn't this match my statement exactly?

Small differences usually come from how your lender counts days (actual days vs. 1/12 of a year), when payments posted, or extra principal you paid. If you've made extra payments, use the Extra Payment calculator or trust the statement.

What's the difference between my balance and my payoff amount?

The balance is principal only. A payoff amount adds the interest that's built up since your last payment (plus any fees), good through a specific date.

What does "as of a date" count?

Every scheduled payment dated on or before your date. A payment due on that exact date counts as made.

Why split the balance into current and long-term?

For bookkeeping. On a balance sheet, principal you'll pay in the next 12 months is a current liability and the rest is long-term. Lenders and anyone reading your financials care about that split.

Does the spreadsheet recalculate?

Yes. Change the payments made (or the as-of date) on the Inputs sheet and the Summary, Payment History, and Remaining Schedule sheets all update.

Assumptions and limits

• Every payment so far was made on time and in full, with no extra principal. (If you've paid extra, your real balance is lower — your lender's statement wins.)
• Fixed rate and the same lender-style rounding as the Loan Amortization calculator: the payment and each period's interest are rounded to the cent.
• If you enter your actual payment, the schedule uses it — a bigger payment pays the loan off sooner, and the payoff and remaining payments reflect that.
• "As of a date" counts the scheduled payments dated on or before that date. Interest that has built up since the last payment (accrued interest) isn't included in the balance.
• The current portion is the principal scheduled over the next 12 months of payments; the rest is long-term. That's the split a balance sheet needs.
• No escrow, fees, late charges, or rate changes.