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Loan Pay Off Calculator for Intermittent Extra and Balloon Payments

Calculator Preferences
Loan Pay Off Calculator Sign
Loan Pay Off Calculator

This calculator will help you to create a revised loan amortization schedule in cases where extra or balloon payments were (or will be) made on an inconsistent or irregular basis. Includes an optional printer friendly revised loan pay off chart, complete with the principal-interest breakdown and outstanding balance for each payment period. Plus, you can even download a .csv file that can be imported into Excel or OpenOffice Calc spreadsheets.

Learn More

Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Original Loan Terms

Loan Terms:

This section is for entering the original loan terms needed to create the editable payment schedule.

Note that once you click the "Create Schedule" button, all but the "Loan Name" fields will be disabled. Therefore please make sure you have the correct numbers entered before creating and editing the schedule.

Loan name:Loan name:Name of loan:Name of the loan you are tracking:

Loan name:

If you will be printing the loan amortization schedule or you will be tracking more than one loan (Cloud subscription), enter the name of the loan here.

Orig amt:Original amount:Original amount borrowed:Original principal amount borrowed:

Original principal amount borrowed:

Enter the dollar amount of the original loan (without the dollar sign and commas), otherwise referred to as the Principal.

Rate:Interest rate:Annual interest rate:Annual interest rate:

Annual interest rate of the loan:

Enter the annual interest rate you are paying on the loan balance. Enter as a percentage without the percent sign (for .06, or 6%, enter 6).

Orig # pmts:Orig # pmts:Original loan term in months:Original loan term in months:

Original loan term in months:

Enter the number of monthly payments as stated in the original loan agreement. If you're not sure how many months are in a number of years, type the number of years into the following field and the calculator will convert the years to months.

# of years:
# of months:0
Payment:Payment amount:Monthly payment amount:Monthly payment amount:

Monthly principal and interest payment amount:

Enter the original monthly principal and interest payment amount (without dollar sign and commas). If this is a home loan, be sure to exclude the insurance and tax portions of the monthly payment.

Start mo/yr:Start month/year:Start month and year:Schedule start month and year:

Month and year of first payment:

Select the month and enter the 4-digit year you made the first payment. The calculator will use the month and year to create a schedule of payments wherein each payment can be edited or added to.

Made pmt?Made payment?Made this month's payment?Did you make this month's payment?

Did you make this month's payment?

If you have made the payment for the current month, select Yes, otherwise select No. Selecting Yes will increment the number of payments made by 1.

Create & Edit Schedule

Schedule Buttons:

Pressing the "Create Schedule" button will populate the monthly payment chart below based on the loan's original terms. You can then change any of the monthly payment amounts to the actual amounts, as well as enter any extra and/or balloon payments that you have made, or that you plan to make.

If you would like to make changes to the original terms after creating the schedule, click the "Edit Loan Terms" button. Note that this will clear out the payment schedule and any changes you have made to it. So be sure to save the record under the Data tab if you'd like to keep a copy of the schedule that will be overwritten.

Bulk Edit Form

To automatically add a reoccurring annual extra amount to a given month's payment, enter the amount, select the month, and enter the starting and ending 4-digit years, then click the Add PmtsAdd PmtsAdd PaymentsAdd Payments button. Note that you can perform this addition as often as you like. Also note that you must first create a payment schedule in order to enable the addition buttons.

Add:
each:
From:
to

Bulk edit form:

Expand the description on this line to automatically add a reoccurring annual extra amount to a given month's payment.

# rows:Number rows:Number of rows:Number of rows to display:

Number of rows to display:

Select the number of payment rows you wish to display at one time. The lower the number of rows, the more likely the summary results will remain in view as you make changes.

Use the "Prev" and "Next" buttons beneath the displayed rows to navigate the payment schedule. Or select the desired period from the dropdown menu next to the buttons.

#
M/Y

Payment

Payment column:

This column will list the default payment 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 Balance column will update as you make changes.


Adjust

Adjustment column:

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


Balance

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.

Payoff Comparison

Payoff Comparison:

This section will compare the original loan term stats with the revised loan term stats.

Revised Loan Pay Off
Tap the text for a description of each row result.
TermsOriginalOriginalOriginalOriginalRevisedRevisedRevisedRevisedDiffDiffDifferenceDifference
Rem bal:Remain bal:Remaining balance:Remaining balance:

Remaining balance:

The first column is the estimated loan balance as of the last payment made if the original specified payments have been made. The second column is the estimated current balance taking into account any changes you made to the original payment schedule. The third column is the difference between the original and revised current balance.

Rem pmts:Remain pmts:Remaining months:Remaining months:

Remaining months:

The first column is the number of monthly payments remaining if the payments have been made as originally specified. The second column is the number of months remaining taking into account any changes you made to the original payment schedule. The third column is the difference between the original and revised remaining months.

Tot mon:Tot months:Total months:Total months:

Total months:

The first column is the total number of monthly payments required to pay off the loan at the original terms. The second column is the total number of monthly payments required to pay off the loan at the revised payment amounts. The third column is the difference between the original and revised total months.

Payoff:Payoff date:Payoff date:Payoff date:

Payoff date:

The first column is the month and year the loan was originally scheduled to be paid off. The second column is the month and year the loan will be paid off based on your revised payment schedule. The third column is not applicable so it remains blank.

Int paid:Interest paid:Interest paid:Interest paid:

Interest paid:

The first column is the estimated amount of interest you would have paid to date if the original specified payments have been made. The second column is the estimated amount of interest you have paid to date based on your changes to the original monthly payment schedule. The third column is the difference between the original and revised loan interest paid to date.

Int left:Interest left:Remaining interest:Remaining interest:

Remaining interest:

The first column is the total interest you would have left to pay if the original specified payments have and will continue to be made. The second column is the total interest you have left to pay based on your changes to the original monthly payment schedule. The third column is the difference between the original and revised loan interest left to pay.

Tot int:Tot interest:Total interest:Total interest:

Total interest:

The first column is the total interest you would have ended up paying if the original specified payments have been made. The second column is the total interest you will end up paying based on your changes to the original monthly payment schedule. The third column is the difference between the original and revised loan interest costs (interest saved).

If you would like to save the current entries to the secure database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

Feedback AppreciatedFeedback Greatly AppreciatedYour Feedback Would Be Greatly AppreciatedYour Feedback Is Greatly Appreciated
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Tip

About

About the Loan Pay Off Calculator

This free online calculator will create an editable monthly loan amortization schedule based on the original loan terms wherein each payment amount can be changed and/or added to.

In other words, this calculator will help you to estimate the current balance, months remaining, and interest cost difference that would result from deviating from the original loan payment schedule (making extra or balloon payments on an irregular basis).

The calculator also includes an option for displaying and printing a revised schedule of payments, which includes the principal and interest breakdown for each payment period.

And finally, you will also have the option of downloading a .csv file for importing into Excel or Open Office Calc spreadsheets.

Note that the member version of this calculator includes a feature for downloading a .csv file for importing into Excel or Open Office Calc spreadsheets.

Other Loan Payoff Calculators

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 Remaining Balance Calculator instead.

Or, if you are looking to calculate the current balance on a loan where regular payments have been skipped altogether, please visit the Lender Loan Balance Calculator.

Or, if you would simply like to add an extra amount to all remaining monthly payments, and you already know what the current principal balance is, please visit the Early Loan Payoff Calculator.

And finally, if you need to determine the payoff on a promissory note or personal loan, check out the Daily Interest Calculator. It allows you to calculate simple or compounding interest between dates, or for a given number of days, or over the course any number of separate, variable transaction periods.

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Instructions

How to use the Loan Pay Off Calculator

Step #1:

Enter the original amount borrowed.

Step #2:

Enter the annual interest rate of the loan.

Step #3:

Enter the original loan term in number of monthly payments.

Step #4:

Enter the original monthly payment amount.

Step #5:

Select the month and enter the 4-digit year of the date of the first payment.

Step #6:

Indicate whether or not you have made the payment for the current month.

Step #7:

Press the "Create ..." button to populate the payment select menu with the original payment schedule.

Step #8:

Change any payment amounts that were (or will be) different from the original payment amount, and enter any adjustments into the Adjustments column (enter fees and other principal increases as negative adjustments).

Note that you can expand the Bulk Edit Form to make bulk annual payment adjustments to any given month.

Step #9:

Once you have made all of the payment revisions, press the "Show Revised Amortization Schedule" button. This will display a scrollable revised amortization schedule, followed by a "Printer Friendly Report" button for printing the schedule, and a "Download CSV File" button for downloading and importing the revised schedule into Excel or Open Office Calc.

Saving Entries:

If your web browser supports Local Storage, you can save your entries to your web browser so won't have to start over on your next visit. Please note that your saved entries can only be retrieved from the same device and web browser you were using when you stored them. If you would like to access your saved entries from any device I invite you to subscribe to the Ad-Free Member Version.

To save your entries to your web browser, click or tap the Data tab in the Help and Tools section (mobile: top right of the main screen), select "New Data Record" from the drop-down menu, enter a name for the data record, and then tap or click the Save button.

To load previously saved entries, click or tap the Data tab and select the saved data record from the drop-down menu. You can then save any changes to your entries by simply clicking the Save button while the data record is selected.

To clear a named set of saved entries, click or tap the Data tab, select the saved data record from the drop-down menu, and then tap or click the Clear button.

Numbers and Decimals:

Only numeric characters (0-9 and decimal points) may be entered in numeric fields. Non-numeric characters (dollar signs, percent signs, commas, etc.) may cause calculation errors. If the field includes a grid icon, tapping the icon will open a popup keypad which will include only the characters allowed in the field. If your device keypad does not include a decimal point, use this popup keypad to enter decimal numbers where applicable.

Popup Tool Tips:

Tap the info (i) icons for a further explanation of each entry field (you can click [X] or outside of the pop-up tool tips to close them). A summary of these explanations, along with any additional term explanations, can also be found under the Terms tab.

Disclaimer:

Since I can't test for every possible combination of numbers, please be sure to double-check the results of this calculator yourself before considering them to be valid. If you do discover an issue with the calculated results, please report the issue using the feedback form located below the calculator.

Scrolling & Shrinking:

In order to scroll the calculator vertically you will need to swipe just outside of the calculator's dark-blue border, or use the window's far right-hand scroll bar, whichever is applicable to your device.

If the top section of the calculator becomes to tall for your viewport, tapping in the "Enter a problem..." field should reset the top section to its original height.

Disclaimer:

The Algebra Calculator is the only calculator on the site that I did not create myself. And since I did not create it, I don't have access to the code for fixing any issues you may be experiencing. So if you are having issues with the calculator, please visit the support page at Mathway.com for assistance.

Glossary

Fields, Terms, and Definitions.

Reset button:

Clicking the "Reset" button will restore the calculator to its default settings.

Pocket Calculator

Calculate any amounts needed to enter into calculator.

 

Data Management

Save and retrieve entries and notes (requires HTML5 compliant web browser).

Calculator Data

Calculator Data:

If you are using the latest version of your web browser software, this feature will allow you to save your calculator entries to your web browser's local storage in between visits. This means the calculator entries can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save data between devices you will need to subscribe to the Ad-Free Member Version.

Save: To save a new set of calculator entries, select "New Data Record" from the dropdown list, enter a nickname for the data record, then click the "Save" button.

Load: To load a previously saved set of calculator entries, simply select the name of the data record from the dropdown list.

Save Changes: To save changes to a set of previously saved calculator entries, be sure the name of the data record is selected, and then click the "Save" button.

Clear: To clear a saved set of entries, be sure the name of the data record is selected, and then click the "Clear" button.

Backup Data
My Notes:
Subscribe to the Cloud level of the Ad-Free Member Version to save your entries and notes to a secure online database, allowing you to access your saved entries from any device or web browser.

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If you would like to use the Save features, please disable ad blocking for this website and refresh the page. Or you can choose to subscribe to the Ad-Free Member Version of the site.

Help and Tools

Help and Tools:

This section, which you can Unstick or Hide in the Calculator Preferences (just above the top of the calculator), contains the following tabs (content too long to fit within bordered frame can be scrolled up and down):

About: Click this tab for an introduction to the calculator.

Instructions: Click this tab for step-by-step instructions for using the calculator.

Terms: Click this tab for a list of the descriptions that are located within each popup help button (info icons).

PCalc: Click this tab for a handy "pocket" calculator you can use when you need to calculate an entry needed for the calculator.

Data: Click this tab to save a set of entries or a note in between visits. Entries and notes will be stored to your web browser's local storage (if supported by your browser of choice), meaning they can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save entries and notes between devices you can do so by subscribing to the Ad-Free Member Version.

 

Favorites

Add or remove this page to/from my favorites.

Adjust Calculator Width:

Move the slider to left and right to adjust the calculator width. Note that the Help and Tools panel will be hidden when the calculator is too wide to fit both on the screen. Moving the slider to the left will bring the instructions and tools panel back into view.

Also note that some calculators will reformat to accommodate the screen size as you make the calculator wider or narrower. If the calculator is narrow, columns of entry rows will be converted to a vertical entry form, whereas a wider calculator will display columns of entry rows, and the entry fields will be smaller in size ... since they will not need to be "thumb friendly".

Show/Hide Popup Keypads:

Select Show or Hide to show or hide the popup keypad icons located next to numeric entry fields. These are generally only needed for mobile devices that don't have decimal points in their numeric keypads. So if you are on a desktop, you may find the calculator to be more user-friendly and less cluttered without them.

Stick/Unstick Tools:

Select Stick or Unstick to stick or unstick the help and tools panel. Selecting "Stick" will keep the panel in view while scrolling the calculator vertically. If you find that annoying, select "Unstick" to keep the panel in a stationary position.

If the tools panel becomes "Unstuck" on its own, try clicking "Unstick" and then "Stick" to re-stick the panel.