This loan balance calculator finds how much you still owe after a number of payments, from the original loan, rate, monthly payment, and payments made. Enter the values above.
Formula
Balance = P(1+r)ᵤ − M × [ (1+r)ᵤ − 1 ] ÷ r
- k — payments already made
Example
$20,000 at 7%, $396/mo, after 12 payments: balance about $16,538.
Good to know
These results are estimates for educational purposes only and are not financial advice. Rates, fees, and terms vary — confirm figures with a licensed professional before making decisions. Last updated: August 2026.
Frequently Asked Questions
How do I find my remaining loan balance?
Grow the original balance by the rate over the payments made, then subtract the future value of the payments you have made.
Why does the balance drop slowly at first?
Early payments are mostly interest, so principal falls slowly until later in the term.
Is this the payoff amount?
It is close, but an exact payoff also adds any accrued interest since the last payment.