Loan Balance Calculator for
Intermittent and/or Uneven Payments

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The Loan Balance Calculator on this page will calculate the revised amortization schedule for repayments that extend beyond the original terms.

This free online Lender Calculator will create a monthly payment schedule for a time period of your choosing.

From there you can then change the default payment amounts to match the actual payment amounts, and you can also make adjustments to the principal balance (up or down) for any month that falls within the selected time frame.

Then, once you have the payment schedule changed to match the actual, you can then view and print out a revised loan amortization schedule so you can simply begin where you left off then next time you revisit the calculator.

Note that if the principal repayment is ahead of schedule, I recommend you use the Loan Pay Off Calculator instead.

Or, if you are looking to calculate the current balance on a loan that you have been making the prescribed monthly payments on, please visit the much simpler Remaining Balance Calculator.

Friends and Family: A Giver, Not a Lender or Borrower Be

While I credit my current level of financial harmony to a host of personal spending and borrowing rules, two rules that have served me extremely well are:

  1. Never borrow money from friends or relatives.
  2. Never lend money to friends or relatives.

Why? Because all too often I have seen close relationships permanently dissolved by matters of money -- namely when one borrows money from the other.

Even in cases where one person is paying the other as per the repayment schedule, each looks at the other differently -- with "differently" ranging from not looking the other in the eye as often as they used to, to avoiding any contact with the other at all.

For that reason, and because I'm a very family oriented person, I simply refuse to put my relationships with friends and loved ones at risk over money.

Now that isn't to say that I never help out my friends and family when they ask for money, because I do. But my rule is, if I don't have the money to give to them as a gift without putting myself in financial peril, they don't get the money. Instead I simply tell them that I value our relationship too much to put something so dangerous between us, and then come up with other ways I might be of assistance.

On the other hand, if I do give a friend or relative a sum of money, and that person is moved to pay me back, they know its only because they want to and not because I was expecting it. In that light, the repayment is simply gift back to me.

Of course, if you're familiar with my stance on borrowing, you'll know that I always try to talk friends and family into managing their incomes in such a way that it reduces the need to borrow money from anyone in the first place. In turn, this keeps many of them from bringing up the subject in the first place ... to avoid the lectures and I told you so's. ;-)

With that, let's use the loan balance calculator to revise a loan amortization schedule that has been skewed by payments that deviated from the original terms.

Loan Balance Calculator
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Instructions: Enter the beginning principal balance, the annual interest rate, the number of monthly payments, and the monthly payment amount you wish to appear as the default amount in the payment column.

Next, select the month and year that coincides with the entered principal amount, select the month and year you would like to calculate the loan balance for, and then click the "Create Editable Payment Schedule" button (note that if any of the top entries are changed, then schedule and all lower fields and results will be cleared).

Next, edit the Payment and Adjustment fields as needed, which will revise the balance column as you make changes.

Finally, when you have finished making changes, click the "Show Revised Amortization Schedule" button.

Mouse over the blue question marks for a further explanation of each entry field. More in-depth explanations can be found in the glossary of terms located beneath the Loan Pay Off Calculator.

Important: The calculator adds unpaid interest due and negative adjustments (late fees, etc.) to the loan balance, which means they will accrue interest charges (interest on interest) until they are offset by principal reductions.

Help Beginning principal balance ($):
Help Annual interest rate of the loan (%):
Help Original loan term in months ( years):
Help Monthly principal and interest payment amount ($):
Help Month and year to start amortization:
Help Month and year to end amortization:
Help Amortization method:
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Help
Pmt #
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Month/Year
Help
Payment
Help
Adjustments
Help
Revised Balance
Help Principal paid during amortization period:
Help Interest charges for the amortization period:
Help Principal balance at end of amortization period:
Help Escrowed unpaid interest:
Help Total owed at end of amortization period:
Help
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Loan Balance Calculator Glossary of Terms

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Beginning principal balance: Enter the dollar amount of the principal balance that coincides with the month and year you would like the payment schedule to start.

Annual interest rate of the loan: Enter the annual interest rate as stated on the original loan agreement. Enter as a percentage (for .06, enter 6%).

Original loan term in months: Enter the number of monthly payments as stated in the original loan agreement. Note that if you type in the number of years, the loan balance calculator will automatically populate the payments field with the correct number of months.

Monthly principal and interest payment amount: Enter the monthly principal and interest payment as stated in the original loan agreement. If you leave this field blank the calculator will calculate the monthly payment for you based on the entered principal, rate, and term.

Month and year to start amortization: Select the month and enter the 4-digit year you would like the payment schedule to begin. The loan balance calculator will use the month and year to create a schedule of payments wherein each payment can be changed to match the actual amounts paid.

Month and year to end amortization: Select the month and enter the 4-digit year you would like the payment schedule to end. Note that you can extend the schedule beyond the original term for cases where missed payments have postponed the payoff date.

Amortization method: Select US Rule if it is illegal in your state to charge interest on unpaid interest (unpaid interest will be escrowed). Otherwise, if you select Normal then unpaid interest will be added to the principal as it occurs (causing negative amortization).

Create Editable Payment Schedule button: Clicking this button will populate the large blank window with a scrollable payment schedule. You can then change the listed payment amounts to their actual amounts, as well as enter an adjustments that have occured (principal-only payments, late fees, etc.).

Pmt # column: This column will list the month number for each of the payments that fall within beginning and ending dates.

Month/Year column: This column will list the month and year of the payments that fall within beginning and ending dates.

Payment column: This column will list the defaultpayment amount for each month that falls within beginning and ending dates. You can change these to reflect instances where the actual payment made was more or less than amount listed (enter zero if payment was skipped all together). Note that the Revised Balance column will update as you make changes.

Adjustments column: Use the fields in this column for adding late fees to the principal balance (enter as negative number, e.g. enter -10 for a $10 fee), or for cases where a second payment is made during any one month (enter as positive number). Note that the Revised Balance column will update as you make changes.

Revised Balance column: This column will display the revised month-to-month loan balance based on your entries in the Payment and Adjustments columns. Note that the loan balance calculator will recalculate this column as you adjust the payment amounts and late fees.

Principal paid during amortization period: The total of the amounts applied to the principle during selected repayment period.

Interest charges for the amortization period: The total of the interest charges that have accrued during selected repayment period.

Principal balance at end of amortization period: This is the balance owed as of the last month of selected repayment period (includes the payment amount for that month).

Escrowed unpaid interest: If you selected US Rule and any of your payments (less any fees) were not large enough to cover the interest charge for their respective payment periods, the unpaid interest will be escrowed -- the total of which will display on this line. Otherwise, if Normal amortization is selected, unpaid interest will be added to the principal in the period it occurred (causing negative amortization) and a zero will be displayed on this line.

Total owed at end of amortization period: This is the balance owed as of the last month of selected repayment period (includes the payment amount for that month), plus any escrowed unpaid interest.

Show Revised Amortization Schedule button: Clicking this button will display a revised amortization schedule below this row. To create a printer friendly version for printing, click the button displayed below the revised schedule once it is no longer grayed out.

Printer Friendly Revised Amortization Schedule button: If enabled, clicking this button will open the revised amortization schedule in a new, printer friendly window for printing, Printing this report will enable you to start from where the schedule left off instead having to start all over.

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