Remaining Mortgage Balance Calculator (USA)
Find out how much you still owe on your mortgage as of any date, how much principal and interest you've paid so far, and — if you add a current home value — your home equity and loan-to-value (LTV).
| # | Date | Payment | Principal | Interest | Balance |
|---|---|---|---|---|---|
| Calculate to see schedule | |||||
How to use the remaining mortgage balance calculator
Four quick steps rebuild your loan from the beginning and tell you exactly where it stands today — what you still owe, what you’ve already paid, and how much of the home is yours.
Enter the original loan
Amount borrowed, interest rate, and the original term — the numbers from your closing paperwork.
Set both dates
Your first payment month and the as-of month. The gap between them is how many payments you’ve made.
Add value and extras
Current home value unlocks equity and LTV. Add any extra principal you’ve been paying.
Read where you stand
Balance, principal vs. interest paid, equity, LTV, the full schedule, and a downloadable PDF.
An estimate is not a payoff quote. This calculates the principal remaining after your completed payments. A lender’s payoff figure adds interest accrued day by day since your last payment, any fees, and a prepayment penalty if your note has one — and it expires on a stated good-through date. For a sale, a refinance, or paying the loan off, request an official payoff statement from your servicer.
How your remaining balance is calculated
The balance isn’t a percentage of the term elapsed. It’s the result of running the loan forward month by month — interest first, principal second — and reading the number left standing on your as-of date.
Worked example — 350,000 borrowed at 6.50% over 30 years, first payment 5 years ago, home now worth 450,000
Monthly P&I: ≈ 2,212.24 · payments made: 60 of 360
Total paid so far: ≈ 132,734
Of which interest: ≈ 110,372 · principal retired: ≈ 22,362
Equity: 450,000 − 327,638 = 122,362 · LTV: ≈ 72.8%
≈ 327,638 still owed — five years and 132,734 in, only 6.4% of the loan has been retired.
Remaining balance charts
Lookups for the questions people ask most — how the balance falls, what extra payments do to it, and what it means for equity and refinancing. Figures use a 350,000 loan at 6.50% over 30 years, payment 2,212.24, unless noted.
| After | Balance owed | Principal retired | Interest paid | % paid off |
|---|---|---|---|---|
| Year 1 | 346,088 | 3,912 | 22,635 | 1.1% |
| Year 3 | 337,460 | 12,540 | 67,101 | 3.6% |
| Year 5 | 327,638 | 22,362 | 110,372 | 6.4% |
| Year 7 | 316,456 | 33,544 | 152,284 | 9.6% |
| Year 10 | 296,716 | 53,284 | 212,185 | 15.2% |
| Year 15 | 253,956 | 96,044 | 302,159 | 27.4% |
| Year 20 | 194,828 | 155,172 | 375,766 | 44.3% |
| Year 25 | 113,064 | 236,936 | 426,736 | 67.7% |
| Year 30 | 0 | 350,000 | 446,406 | 100% |
The curve is the whole story: two-thirds of the term retires under half the debt, and the final ten years retire more principal than the first twenty combined. The balance does not fall below half the original loan until roughly year 21.
| Extra per month | Balance after 5 yrs | Loan paid off in | Interest saved |
|---|---|---|---|
| 0 | 327,638 | 30 yrs | — |
| 100 | 320,571 | 26 yrs 6 mo | ~62,800 |
| 200 | 313,504 | 23 yrs 10 mo | ~108,300 |
| 300 | 306,436 | 21 yrs 9 mo | ~143,000 |
| 500 | 292,302 | 18 yrs 7 mo | ~193,600 |
Extra principal works twice: it removes the dollar from the balance today and stops interest accruing on it for every remaining month. That’s why 200 a month — roughly 9% more than the required payment — takes more than six years off the loan.
| Rate | Monthly P&I | Balance after 5 yrs | Principal retired | Interest paid |
|---|---|---|---|---|
| 5.50% | 1,987.27 | 323,612 | 26,388 | 92,848 |
| 6.00% | 2,098.43 | 325,690 | 24,310 | 101,596 |
| 6.50% | 2,212.24 | 327,638 | 22,362 | 110,372 |
| 7.00% | 2,328.56 | 329,460 | 20,540 | 119,174 |
| 7.50% | 2,447.25 | 331,161 | 18,839 | 127,996 |
A higher rate means a bigger payment and a bigger balance, because more of each payment is consumed by interest. Two points of rate costs about 460 a month and leaves roughly 7,500 more owed after just five years.
| Home value today | Home equity | Loan-to-value | Position |
|---|---|---|---|
| 400,000 | 72,362 | 81.9% | Just above the 80% line |
| 425,000 | 97,362 | 77.1% | Under 80% |
| 450,000 | 122,362 | 72.8% | Comfortable |
| 500,000 | 172,362 | 65.5% | Strong |
| 550,000 | 222,362 | 59.6% | Strong |
The same debt produces very different options depending on what the property is worth. Value moves your LTV far faster than principal does in the early years — which is exactly why the balance is only half the picture.
| Payment number | To interest | To principal | Balance after |
|---|---|---|---|
| 1 | 1,895.83 | 316.41 | 349,683.59 |
| 60 (5 yrs) | 1,779.60 | 432.64 | 327,638 |
| 120 (10 yrs) | 1,614.99 | 597.25 | 296,716 |
| 240 (20 yrs) | 1,061.34 | 1,150.90 | 194,828 |
| 360 (30 yrs) | 11.93 | 2,200.31 | 0 |
In month one, 86% of the payment is interest. Principal only overtakes interest inside the payment at around year 18 — the crossover point where the balance finally starts falling at speed.
LTV sets your pricing
proceeds minus the balance
once you cross the line
Knowing the balance is rarely the point on its own. It becomes useful the moment you pair it with the home’s value — that pairing is what lenders, buyers, and insurers all price against.
- Refinancing — your LTV decides which programs you qualify for and what rate you’re quoted.
- Selling — proceeds are the sale price minus the payoff, agent commission, and closing costs.
- Mortgage insurance — on a conventional loan, 80% LTV against the original value is the request point, 78% the automatic one.
Everything the calculator works out
One set of loan details and two dates gives you a complete picture of the loan — behind you, ahead of you, and where it sits against your home’s value.
Key figures behind a mortgage balance
Built for the moment the balance matters
Most people look this up because a decision depends on it. The calculator gives you the number and the context around it before you make the call.
Wants to know whether the loan and the home’s value line up well enough to qualify for good terms before applying and taking a credit pull.
- Check the balance against a realistic value
- Aim to be under 80% LTV
- Weigh closing costs against the monthly saving
Needs to know what would be left after the mortgage is settled — the number that decides the down payment on the next home.
- Start from the balance, not the original loan
- Subtract commission and closing costs
- Get an official payoff before you list
Already paying more than required, or thinking about it, and wants to see what that actually does to the balance and the payoff date.
- Model a monthly extra and a lump sum
- Confirm extras are applied to principal
- Check the note for a prepayment penalty
7 tips for reading your mortgage balance
Small details change the answer more than people expect. These are the ones worth getting right before you rely on the number.
Remaining mortgage balance calculator FAQ
The balance, payoff, equity, LTV, and extra-payment questions homeowners ask most.
Start with the original loan amount and amortize it forward, one month at a time, up to the date you care about. Each month interest is charged on the balance at the rate divided by twelve, the rest of the payment reduces the principal, and whatever principal is left on the as-of date is your remaining balance.
On a 350,000 loan at 6.5% over 30 years, the payment is about 2,212 a month. After five years you would still owe roughly 327,638 — you have paid about 132,734 in total and retired only about 22,362 of the debt.
Because early mortgage payments are almost entirely interest. In the first month of a 350,000 loan at 6.5%, about 1,896 of the 2,212 payment goes to interest and only about 316 reduces the balance.
That ratio improves every month, but slowly. Five years in you have retired about 6% of the loan, ten years in about 15%, and the balance does not fall to half the original amount until roughly year 21 of a 30-year term.
The remaining balance is the principal still owed after your last completed payment. The payoff amount is what the lender needs to close the loan on a specific day, and it is usually higher.
A payoff quote adds interest accrued day by day since the last payment, any recording or statement fees, and a prepayment penalty if the note contains one. It is only valid through a stated good-through date. Your escrow balance is handled separately and is normally refunded after closing. For anything binding, request an official payoff statement from your servicer.
Home equity is the current market value of the property minus everything secured against it. With a balance of 327,638 on a home now worth 450,000, equity is about 122,362.
Two things build it: the principal you retire each month, and any increase in the property’s value. If you have a second mortgage, a HELOC balance, or a lien, subtract those as well — the calculator works from the first mortgage only.
Loan-to-value is the remaining balance divided by the property’s value. A 327,638 balance against a 450,000 home is about 73% LTV.
Lenders price on it. Under 80% you generally reach the best refinance and home equity terms and, on a conventional loan, the point at which private mortgage insurance can be removed. Above 80% your options narrow and pricing gets worse, which is why LTV is worth tracking rather than checking once.
Every extra dollar applied to principal reduces the balance immediately and stops interest accruing on that dollar for the rest of the loan, which is why the effect compounds.
On the 350,000 example, an extra 200 a month lowers the five-year balance from about 327,638 to about 313,504, shortens the term to roughly 23 years 10 months, and saves in the region of 108,000 in interest. Tell your servicer the extra amount is to be applied to principal, and check the note for any prepayment penalty first.
Around the two-thirds mark of the term. On a 30-year loan at 6.5%, principal overtakes interest within the monthly payment at roughly year 18, and the balance passes the halfway point at about year 21.
The last decade does most of the work: the balance falls from about 296,716 at year 10 to about 194,828 at year 20, then from there to zero in the final ten years — more principal retired in that last stretch than in the previous twenty years combined.
No. The balance is principal only. Property taxes, homeowners insurance, mortgage insurance, and HOA dues are collected alongside your payment but are not part of the debt.
This is why your total monthly outlay is usually larger than the P&I figure shown here, and why the escrow account is settled separately when a loan is paid off. If your statement shows a payment noticeably higher than the calculated P&I, the difference is almost always escrow.
General Estimating Notice: This calculator models a fixed-rate, fully-amortizing mortgage using the original loan amount, rate, term, dates, and any extra payments you enter. It assumes equal, on-time monthly payments and a rate that does not change, and it excludes escrow for property taxes and insurance, mortgage insurance premiums, late fees, prepayment penalties, forbearance or modification history, and any second mortgage or HELOC secured against the property. The result is an estimate of principal remaining, not a payoff quote — an official payoff statement from your servicer includes per-diem interest and fees and is the only figure valid for a sale, refinance, or loan payoff. Equity and loan-to-value depend on a current market value that only an appraisal or broker opinion can establish. Mortgage insurance cancellation rules vary by loan type, investor, and servicer. Figures are illustrations, not an offer, a quote, or financial or legal advice. For planning purposes only.