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Accurate Loan Payoff Calculator™

Borrow or pay any amount, on any date, at any rate.
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Loan Payoff Calculator
Loan Payoff Calculator

Payoff Calculator tracks payment amounts on the date paid. Calculate penny-perfect loan balance.

  • Allows for missed payments
  • Allows for extra payments
  • Allows for interest rate changes
  • Add fees or charges if needed.
  • Export schedule to Excel/XLSX and Word/DOCX files

A perfect calculator for seller financing transactions.

Click to Try It Now!

What is a loan payoff amount?

The loan payoff amount is the unpaid principal balance plus all unpaid accrued interest as of a specific date. The borrower must pay this amount on that date to fully close the loan.

What is a loan payoff calculator?

A loan payoff calculator tracks individual payments based on their actual payment dates—including overpayments and underpayments—to calculate the current loan balance or final payoff amount.

What is seller financing?

Seller financing, also known as owner financing, is a transaction where the asset seller—often the property owner—finances the buyer’s loan. In this case, the buyer pays the seller directly, usually minus a down payment.

What is an owner financing calculator?

With an owner financing calculator, the seller or buyer can calculate the current loan balance by tracking actual payment dates, including overpayments and underpayments.

The Accurate Loan Payoff Calculator simplifies the process of managing an owner financing deal or determining the correct payoff amount. To begin, watch the videos or follow the tutorial below…

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To set your preferred currency and date format, click the “$ : MM/DD/YYYY” link in the lower right corner of any calculator.

Calculatrice précise de remboursement de prêt (French)
Idx#SeriesDateAmount# FrequencyDateSeries OptionsCmpFreqValSpecialSeriesTypeSpecialSeriesStructDateValEndDateValSeriesValPmtFreqVal
01Loan02/16/2019$5,250.00101550275200000131
12Payment03/16/2019$230.911015526944000002
23Payment04/16/2019$230.913Monthly06/16/20190155537280000026
34Payment07/10/2019$330.911015627168000002
45Payment08/16/2019$180.911015659136000002
56Loan10/01/2019$1,000.001015698880000001
67Payment10/16/2019Unknown18Monthly03/16/20210157118400000026
©2025 Pine Grove Software LLC, all rights reserved
$ : MM/DD/YYYY
Click to make smaller (-) or larger (+).
Drag & drop your saved files here to load.
(UFC *.xml, C-Value! *.cv1, and TValue™ *.tv5 files)

It’s easy to calculate a loan payoff amount using this calculator. It accounts for all on-time, late, missed, and extra payments. It can also handle changes in payment amounts and interest rates.

  • The Accurate Loan Payoff Calculator is the right tool if you are looking for any of the following calculators:
    • loan repayment calculator
    • mortgage payoff calculator
    • student loan repayment calculator
    • home loan repayment calculator
    • car loan repayment calculator
    • debt payoff calculator
    • debt repayment calculator
    • any early loan payoff calculator

We recommend all users complete the more detailed first tutorial to understand the calculator’s key concepts and settings.

Tutorial 25 - Seller or Owner Financing
A Step-by-Step Tutorial

How to get an accurate balance or payoff amount.
Watch on YouTube

To calculate a mortgage or loan balance and record payments as they are made, follow these steps:

Loan payoff check
Fig. 1 – From Settings, click Rounding Options, then select Open balance.
  1. Set "Schedule Type" to "Loan"
    • Or click the button to remove any previous entries.
  2. Click Settings > Rounding Options.
    1. Set "Rounding" to Open balance — no adjustment.
      • This setting allows you to enter individual payments. See Fig. 1.
      • Other rounding settings will force the calculator to adjust the final payment so the balance reaches zero.
  3. Click Settings > 360 / 365 Days.
    1. Set the "Days Per Year" option to "360 Days Per Year".
  4. In the header section, apply the following settings:
    1. For "Calculate Method", select "Normal".
    2. Set "Initial Compounding" to "Monthly".
    3. Enter 5.25 for the "Initial Interest Rate".
  5. In row one of the cash flow input area, create a "Loan" series:
    1. Set the "Date" to February 16.
    2. Set the "Amount" to 5,250.00.
    3. Set the "# Periods" to 1.
      • Note: When the number of periods is 1, you will not be able to set a frequency. If a frequency is entered, it will be cleared when you leave the row.
  • Often, the next step is to calculate the regular periodic payment, if it has not already been determined. For this example, we’ll assume the payment amount is not yet known. If the payment has already been agreed upon, skip to step #8.
  • The borrower has agreed to repay the loan in 24 equal monthly payments. What is the required payment amount?
  1. In the second row, enter the known payment details:
    1. Set the series to "Payment".
    2. Leave the "Date" as March 16.
    3. In the "Amount" column, type U (for "Unknown"). See Fig. 2.
    4. Set the number of periods to 24.
    5. Set the frequency to "Monthly". (The "End Date" will automatically be February 16.)
  • Your screen should now look like this:
Calculate the unknown periodic payment
Fig. 2 – Calculating the periodic payment
  1. Click the button.
    • The expected periodic payment is $230.91. See Fig. 3.
Calculated periodic payment
Fig. 3 – Expected periodic payment
  • You can now begin recording payments as they are received. Because the payment amount was calculated using a 24‑payment schedule, you will need to update row #2:
  1. The first payment is received on time. Click on row #2.
    1. Select "Payment" for the series.
    2. Leave the date set to March 16.
    3. In the "Amount" column, enter $230.91.
    4. Enter 1 for "# Periods" to record one payment.
  • Assume the next three payments were also received on time and in the correct amount, but you delayed entering them. You can easily catch up:
  1. Click on row #3.
    1. Select "Payment" for the series.
    2. Set the date to April 16.
    3. In the "Amount" column, enter $230.91.
    4. Enter 3 for "# Periods".
  • Your screen should now look like this. See Fig. 4:
Three scheduled payments
Fig. 4 – Three on-time payments
  • So far, all payments have been received for the correct amount and on the due date. Let’s check the loan payoff amount after these four payments:
  1. Click the button.
    1. As of June 16, after the payment, the payoff amount is $4,412.77. See Fig. 5.
Loan payoff check
Fig. 5 – Payoff amount after four payments.
  • The borrower is reliable. Not only is the fifth payment made early—it includes an extra $100.00.
  1. Record the early payment with the extra amount:
    1. Click on row #4 and set the series to "Payment".
    2. Set the date to July 10.
    3. Set the amount to $330.91. (This includes the extra $100.00.)
    4. Set the # Periods to 1.
  • So much for the borrower being reliable.
  1. Record a missed payment followed by a partial payment:
    1. Click on row #5 and set the series to "Payment".
    2. Set the date to September 16.
    3. Set the amount to $180.91.
    4. Set the # Periods to 1.
  • After four regular payments, one early payment with an extra $100.00, and one payment that is $50.00 short, your cash flow data screen should look like this. See Fig. 6:
Five payments
Fig. 6 – An extra payment and a short payment.
  • Note: You do not need to enter 0.00 for a missed payment. However, doing so may be useful for recordkeeping. It explicitly shows the missed payment and forces the balance to be calculated as of that payment’s due date.
  • Note: Interest is being calculated through August 16 and added to the balance.
  • Your borrower needs additional funds. You agree to lend more and add it to the existing loan balance.
  1. Add an additional loan:
    1. Click on the empty row after the last payment. This will be row #6.
    2. Select "Loan" for the series. See Fig. 7.
    3. Enter October 1 in the Date column. This is the date the funds become available.
    4. In the "Amount" column, enter the new loan amount: $1,000.00.
    5. Enter 1 for "# Periods" (a single loan disbursement).
  • Because a new loan amount has been added, you will now calculate a new payment. The borrower has agreed to repay the full balance in 18 additional monthly payments.
  1. Adjust the payment amount based on the new loan:
    1. Click on the empty row following the newly entered loan.
    2. Select "Payment" for the series.
    3. Set the "Date" to October 16. Monthly payments will continue on the 16th of each month.
    4. In the "Amount" column, type U for "Unknown".
    5. Enter 18 for "# Periods".
    6. Set the frequency to "Monthly".
  • If you’ve been following the tutorial, your screen should now look like this:
New loan and payment adjustment
Fig. 7 – Additional loan and payment adjustment.
  1. Click the button.
    • The new monthly payment will be $286.78. See Fig. 8.
Payment adjustment
Fig. 8 – Payment adjustment result.
  1. The borrower makes a full payment but two days late:
    • Edit the payment in row #7.
    1. Leave Series set to "Payment".
    2. Change the Date to October 18.
    3. Leave the Amount set to $286.78 (full payment).
    4. Change the # Periods from 18 to 1 (only one payment is being recorded).
Resume payments
Fig. 9 – Resume entering payments
  • Continue entering payments (and loan advances) as they are received until the loan is fully repaid. You may enter a $0.00 payment on any date to calculate the balance as of that date. See Fig. 10.
Resume payments
Fig. 10 – To get the balance as of Jan. 1, enter $0.00 for the amount.
  1. Calculate the unpaid principal balance as of any date:
    • Assume no payments are made after October 18:
    1. Leave Series set to "Payment".
    2. Change the Date to January 1.
    3. Set the Amount to $0.00 (no payment is made). See Fig. 10.
    4. Click the button. The row for January 1 will show the loan balance, including interest accrued since the October 18 payment. See Fig. 11.
  2. Calculate the loan’s payoff amount as of any date:
    • Repeat the steps from step 17, but set the January 1 Amount to "Unknown".
    • Change the rounding option to "Adjust last amount to reach a "0" balance".
    • The calculator will determine the payoff amount, and the schedule will show a $0.00 balance.
    • The payoff amount will match the balance shown in step 17, adjusted for rounding.
Resume payments
Fig. 11 – Payoff schedule showing accrued interest and balance as of Jan. 1.
  • You now have two ways to view the same loan:
    • Follow the steps in step 17 to display the balance as of January 1.
    • Follow the steps in step 18 to calculate the payoff amount and confirm a $0.00 balance.

If you have any questions about the Accurate Loan Payoff Calculator, feel free to leave them in the comment section below.

TValue is a trademmark of TimeValue Software.

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Questions?
Ask them here. We're happy to help.

  • Candace says:

    Great calculator. Thank you!!

  • John says:

    I made a personal loan Jan 18, 2018 of $140,000.00 at 4.99% for a period of 5 years.
    principle $140,000.00
    interest $18,500.00
    total $158,500.00
    I have received regular monthly payments over the 5 years but as of Jan 19, 2023, at the end of the loan term, payments only totaled $93,342.80.
    I would like to populate your calculator with the payment dates and amounts to make a printable statement.
    Additionally, I would like to determine reasonable interest for remaining balance for payoff.
    Can you assist ?

    Thanks

    • Karl says:

      Please read the tutorial below the calculator. That should get you started.

      Then, if you have a specific question or something is not clear, please ask.

      "Can you assist?" is a bit too general, considering I’ve already provided assistance by writing out a step-by-step guide.

  • Brian Arnold says:

    I am working on the loan payoff that is out of the ordinary. My situation is the payee (a relative) never paid according to the terms of a loan. He was to pay each Aug 1 and each Sept 1 each year so I entered 22 years of 0 as a payment – and I also entered the erratic payments that were made and entered them as the date they were received. When I did both, I get a payoff amount a few thousand larger than if I just entered the erratic payments themselves that I calculated as a second version of the payoff.

    The amount paid is the same in both versions, but they do not come out to the same payoff amount.

    So which is correct? I expected to see the same payoff amount in both versions but the difference was $900 higher when I entered the $0 payment along with the actual payments.

    • Karl says:

      Sorry I missed answering this yesterday.

      The specifics are always important, and since the specifics are missing, I can only venture a guess. When you enter 0 payment, the interest is calculated and added to the balance (even when a payment is not made, the interest is due regardless).

      Since with normal amortization, there will be interest-on-interest, you can expect the balance to be higher when you enter 0 payments.

      If this is not clear, please ask again.

  • Shaun Burgess says:

    I’m working on a payoff for someone that never made a payment. I lent someone $62,127.90, payable monthly, at 8.5%, with payments that were to commence on Sept 1, 2010. In addition, any late payment carried a late fee of 5%. I never received a payment. I’m hoping your calculator can help me figure out the total amount owed as of March 2023, including all accrued interest and late fees. I can’t find anywhere to add the late fees. Any help is greatly appreciated. Thank you!

    • Karl says:

      Yes, this calculator will be able to do what you need.

      I’ll assume you already have figured out how to create a basic loan schedule and how to calculate an unknown payment.

      In the "Series" one of the options is "Fees". This is for any fee, including late fees. The calculator will not calculate the fee amount for you. If the late fee is 5% of the payment amount that is due, calculate what that amount is and enter it along with the date.

      One other point. If the debtor has completely missed making a payment, then enter $0 for the payment missed (you do not need to do this if the payment is simply late). Entering 0 for missed payments triggers an interest calculation. The interest amount is added to the balance, which is generally what lenders want to do.

  • Shaun Burgess says:

    Hi, I’m still having issues adding the late fee. When I click on “Series Options” the only tab that opens is the Initial Loan Options. I tried entering both the monthly ($22) late fee as well as the total late fees over the 11 years but neither appear to be adding to the balance. Also, the amount I enter in the “Other Charges & Fee” box is reducing the Initial Amount Financed (the system thinks it’s an initial closing cost). I can’t find anywhere else to enter it. What am I doing wrong?

    • Karl says:

      Hi Shaun, it’s not the "Series Options" column you want to click under, but rather the leftmost column, "Series." There you’ll find "Loan," "Payment," "Fee," etc. Let me know if this works for you please.

  • Fred Chalmers says:

    sorry but the online calculators are free?

    • Karl says:

      They are free to use, yes. They are not free to put on another website.

      • tardis says:

        thanks a lot for writing back. I couldn’t find any prices for the using the api on a website (or more likely i am blind and/or lazy)

        • Karl says:

          You are neither. I don’t publish such a price since there are too many variables.

          If you wish to discuss this further, then please contact me via email. The email address is on the contact page. Links to which are at the bottom of every page.

  • Stephen says:

    I don’t understand why when I tried to print the schedule and then nothing happen… Until rolling down seeing this message incurred “# Periods” must be greater than “1” or “Unknown” to select a frequency. What I’m trying to do is loan amortization with missing payments and extra payments. Could you please assist?

    • Karl says:

      Let’s try to solve one problem at a time. We will hold off on problems with printing, for now.

      First thing is to get the schedule the way you need it in the print preview mode. That is, you get a useable schedule when you click on the Schedule button.

      To get to a point where you can create a schedule, you have to have the loan and payment entries correct. I think the best way to learn the concepts needed to get the entries correct is to scroll down the page and actually work through the example. Please try that and then if something is not clear, ask about it. The calculator will do what you need.

    • Karl says:

      I’ll add, it is probably best if you go through this tutorial first. It introduces the basic concepts for this calculator.

  • Jason Lake says:

    I’ve had decent success with creating various scenarios, but I have been unable to create a regular loan schedule or a balloon schedule that handles deferred payments.
    The scenario is a 12 year loan, with principal and interest payments deferred for the first 3 years. Then regular payments start with a balloon payment at the end, essentially for the 36 months skipped originally, but I was trying to have it dump that missed interest paid and any additional interest accrued from the principal payments being deferred for 36 months to the end of the loan and included in the balloon payment. Regardless of the Long Option I select, it either adds not interest, at origination date or 1 payment date. The amortized option still shows a payment of 12k of interest and -11k to principal for the first payment date.

    • Karl says:

      I’m not sure I understand what you’re trying to do, so let me rephrase what you need before I answer your question and you can tell me if I’m on the right track.

      For the first three years of this loan, the debtor doesn’t make any payments, and rather than have the interest for the first three years paid with the loan origination or the first payment, you want to have the interest paid with the last payment, which happens to be a balloon. Correct?

      The calculator should be able to handle this.

      Leave long period interest set to “Amortized.”

      The first row will be the loan amount.

      The second row will be the regular payments. You enter the amount you want. You can use a preliminary calculation to get a “normal” payment amount, if you like, based on the term of the loan.

      The third row will be the unknown balloon amount. (This is, of course, assuming you want to calculate the balloon. You could also enter the amount of the balloon you want, and have the calculator calculate the regular payment amount.)

      When you look at the schedule, you’ll probably see the interest for the first payment as a negative amount. It is added to the balance and then amortized with the loan.

      How does this sound?

      • Jason Lake says:

        I can see how that is working with that negative adding to the balance. It just looks a bit funny and likely confusing to the non-financial minded person.

        Is there a way to show the calculations for the first 36 periods, to show the interest accruing each of those period, but no payments being made and the balance increasing each month, instead of all at once with the first payment? In other words, is there a way to show all 144 periods covered between the origination date and the final payment date, instead of those first 36 periods being hidden?

        • Karl says:

          Yes.

          Make the 2nd row a payment row for 0 amount and 36 monthly periods. The report will show the interest accruing.

        • Karl says:

          By the way, if you do show the first 36 payments as 0 amount, you’ll get a different total accrued amount than if you don’t show the 0 amounts.

          This is because the interest is getting posted to the balance sooner and interest is earned on interest.

          If this is not what you want, you may want to set the calculation method to U.S. Rule.

  • Jason Lake says:

    That solution is much better. The US Rule is certainly cleaner looking and less confusing, as long as you don’t need to accrue on the interest. I had mostly been trying to utilize the loan calculator with the balloon options, but this Accurate Loan Payoff Calculator is probably the best for handling this, since you have more control over the deferred payment data. Thank you!

  • t0juandaPG says:

    When I save a file and try to open the file later, the calculator states that it cannot open the file. Sometimes it will open my files, I cannot figure out why it opens the some of my files but not others. Please help.

    • Karl says:

      Please email me the files that you can’t open to the email address on the contact page.

      What’s the specific error message you see?

      I will point out that you should only be emailing me ".xml" files, since those are the only files that the calculators open.

Comments, suggestions & questions welcomed...

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