Specifically, the calculator will create an editable monthly payment schedule for a time period of your choosing.įrom there you can then change the default payment amounts to match the actual payment amounts, and you can make adjustments to the principal balance (up or down) for any month that falls within the selected time frame. This includes auto, RV, personal or student loans, certain types of promissory notes, contracts for deed, 1st, and 2nd mortgages, and so on.Īnd it can be used from either a lender's perspective or from a borrower's perspective. The Loan Balance Calculator can be used to track variable payments on any monthly installment loan.
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