Remaining Loan Value

When a borrower has paid off all of the principal and interest on a loan, the remaining loan value, also known as the remaining loan balance, is the remaining amount owed.

The original loan amount is subtracted from any monthly payments made toward the principal to arrive at this figure. Keep in mind that this does not include interest that has already been paid. If you’re thinking about refinancing, you’ll need to figure out how much you still owe on the loan and find a new lender to cover the difference.

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