Mortgage Calculator
A mortgage calculator is a free online tool that computes your complete monthly home loan payment — including principal, interest, property tax, and insurance — with a full amortization schedule.
Down payment: ₹10,00,000
Year-wise Amortization (first 10 years)
| Year | Principal | Interest | Balance |
|---|---|---|---|
| Year 1 | ₹74,908 | ₹3,56,960 | ₹39,25,092 |
| Year 2 | ₹81,935 | ₹3,49,933 | ₹38,43,156 |
| Year 3 | ₹89,621 | ₹3,42,247 | ₹37,53,535 |
| Year 4 | ₹98,029 | ₹3,33,840 | ₹36,55,506 |
| Year 5 | ₹1,07,224 | ₹3,24,644 | ₹35,48,282 |
| Year 6 | ₹1,17,283 | ₹3,14,586 | ₹34,30,999 |
| Year 7 | ₹1,28,285 | ₹3,03,584 | ₹33,02,715 |
| Year 8 | ₹1,40,319 | ₹2,91,550 | ₹31,62,396 |
| Year 9 | ₹1,53,481 | ₹2,78,387 | ₹30,08,915 |
| Year 10 | ₹1,67,879 | ₹2,63,989 | ₹28,41,036 |
Estimates only. Actual EMI may vary based on bank policies and processing fees.
How to use Mortgage Calculator
- Enter property price — Type the total cost of the property or the loan amount.
- Add down payment — Enter your down payment amount or percentage.
- Set interest rate & term — Choose the annual interest rate and loan tenure in years.
- See monthly payment — View your full monthly payment with a complete breakdown.
Key features
- Full PITI breakdown (Principal, Interest, Tax, Insurance)
- Amortization schedule (year-by-year or month-by-month)
- Extra payment calculator
- Down payment percentage slider
- Total interest paid over lifetime
- Indian rupee formatting
What is a Mortgage Calculator?
A mortgage calculator is a financial tool that estimates your monthly home loan payment based on the loan amount, interest rate, and tenure. Unlike a basic EMI calculator, a mortgage calculator includes the full cost of homeownership — principal, interest, property taxes, and home insurance. This gives you a realistic picture of what you'll actually pay each month.
Understanding PITI
PITI stands for Principal, Interest, Taxes, and Insurance. Principal is the amount that reduces your loan balance. Interest is the cost of borrowing. Taxes are the annual property tax divided into monthly amounts. Insurance covers home insurance and possibly mortgage insurance. Lenders use PITI to decide whether you can afford a loan — usually 28% or less of your gross monthly income.
How Amortization Works
An amortization schedule shows how each monthly payment is split between principal and interest over the life of the loan. In the early years, most of your payment goes to interest. By the final years, nearly all goes to principal. This is why paying extra early in the loan is so powerful — every extra rupee reduces interest compounding for decades.
Tips for Reducing Your Mortgage Cost
1) Make a bigger down payment to reduce the loan amount. 2) Choose a shorter tenure — you'll pay higher EMIs but far less total interest. 3) Make one extra payment per year — this alone can save 3-5 years off a 20-year loan. 4) Refinance when rates drop. 5) Improve your credit score before applying to get the best rates.
Pro tips
- Aim for a 20% down payment to avoid higher interest rates
- Even one extra EMI per year saves lakhs in total interest
- Compare rates across 3-4 banks before deciding
- Prepay in the first 5 years for maximum interest savings
Common use cases
- Planning a home purchase
- Comparing home loan offers
- Calculating total cost of ownership
- Understanding amortization
- Budgeting for a new home
Frequently asked questions
What is a mortgage calculator?+
A mortgage calculator is a tool that estimates your monthly home loan payment including principal, interest, property tax, and home insurance.
What is PITI?+
PITI stands for Principal, Interest, Taxes, and Insurance — the four components of a typical mortgage payment.
How does a mortgage calculator differ from an EMI calculator?+
An EMI calculator shows only principal and interest. A mortgage calculator includes taxes and insurance for a more complete picture.
What is a good down payment?+
20% is standard. In India, most banks ask for 10-20% down payment for home loans.
Can I include property tax?+
Yes — our calculator lets you add annual property tax and home insurance as monthly amounts.
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