How the calculation works
Remaining Loan Balance Calculator explained
Early loan payments contain more interest because the principal balance is still high. That means the balance often declines more slowly than borrowers expect during the first years.
The selected payment number should count completed scheduled payments, not the number of calendar months since the loan began if payments were skipped or delayed.
Use a current lender statement when available because fees, late payments, and rate changes can make the actual balance different.