Mortgage Calculator
Enter the home price, down payment, rate, and term to see your monthly payment and total cost.
How this differs from a plain loan EMI
A mortgage calculation starts from the home price and down payment rather than the loan amount directly — the loan amount is simply price minus down payment, then the same reducing-balance formula used for any EMI applies from there.
About the Mortgage Calculator
The Mortgage Calculator estimates your monthly mortgage payment, total interest and payoff date from home price, down payment, interest rate and loan term. It helps you compare how much house you can afford and see the effect of a larger deposit.
The loan amount equals home price minus down payment. The monthly payment uses the standard amortisation formula, similar to an EMI. A larger down payment reduces the loan and the total interest, and a shorter term raises the payment but reduces interest. Real mortgages add property tax, insurance, fees and sometimes mortgage insurance, which are not included here.
How to use it
- Enter the home price and down payment.
- Enter the annual interest rate.
- Enter the loan term in years.
- Read the monthly payment, total interest and payoff date.
Tips and good to know
- Try different down payments to see the trade-off.
- Add taxes and insurance to your budget separately.
- Compare rates from several lenders.
Frequently asked questions
Does it include taxes and insurance?
No.
Is the rate fixed?
The calculation assumes a fixed rate.
How is this different from the EMI Calculator?
It starts from the price and down payment.