This free online Loan Balance Calculator will calculate the number of payments made and the amount you still owe on a loan  based on the month and year of your first monthly payment.
Plus, the calculator also includes an option for displaying and printing a schedule of payments made, which includes the principal and interest breakdown for each payment.
Please note that this principal balance calculator is designed to handle loans with fixed monthly payments that are paid on time and without having skipped any payments. I am currently working on a variable payment loan balance calculator that will allow you to edit the payment amount for each payment made. Coming soon!
In case you're not familiar with how loans are amortized, it's important to understand that the amount you owe on a loan is not equal to the sum of the remaining payments.
For example, if you have 12 $100 monthly payments left to pay on a loan, the current payoff amount would be less than $1,200 (12 x $100). That's because if you pay off the loan today you will save 12months of interest being charged on the declining balance.
Therefore, in order to know a loan's actual current payoff amount you will need to call your lender and ask  especially if you haven't made all of the payments on their prescribed due dates.
Or, if you're just curious as the approximate payoff amount, you can simply use the calculator on this page.
With that, let's use the remaining balance calculator to calculate the payoff amount of an existing loan.

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