Mortgage Calculator – Estimate Monthly Payments, Interest & Loan Cost

Mortgage Calculator
🏠 Simple • Fast • Free

Estimate your monthly mortgage payment, total interest, loan cost and amortization schedule in seconds.

Loan details

Enter your property and loan information.

₹
₹
Amount paid upfront.
%
yrs
₹
₹
₹
₹
Optional additional amount toward principal each month.

Your results

Estimated monthly and lifetime loan costs.

Estimated monthly payment ₹0
Loan amount ₹0
Total interest ₹0
Total loan cost ₹0
Loan-to-value 0%
Payoff time 0 yrs
Interest saved ₹0
Monthly payment breakdown
Principal Interest Tax Insurance

About the calculator

This mortgage calculator estimates the cost of borrowing money to purchase a property. It calculates principal, interest, taxes, insurance and optional HOA costs.

Monthly payment

Calculates the estimated amount required every month for principal and interest, plus recurring costs.

Amortization

Shows how every monthly payment is divided between principal and interest.

Extra payments

See how paying extra toward principal can shorten your loan and reduce interest.

Calculator attributes

Everything included in the calculation.

Property price

Total purchase price of the property.

Down payment

Amount paid upfront instead of being financed.

Interest rate

Annual percentage rate used to calculate loan interest.

Loan term

Number of years over which the mortgage is repaid.

Property tax

Estimated annual property tax divided into monthly cost.

Insurance

Estimated annual property insurance divided monthly.

HOA

Optional recurring homeowners association fee.

Extra payment

Additional monthly amount applied toward principal.

LTV

Loan-to-value ratio based on loan amount and property price.

Formulas used

The calculator uses standard fixed-rate mortgage formulas.

1. Loan amount Loan = Property Price − Down Payment
2. Monthly interest rate r = Annual Interest Rate ÷ 12 ÷ 100
3. Number of payments n = Loan Term × 12
4. Principal & interest payment M = P × [r(1+r)^n] ÷ [(1+r)^n − 1]
5. Monthly property tax Monthly Tax = Annual Property Tax ÷ 12
6. Monthly insurance Monthly Insurance = Annual Insurance ÷ 12
7. Monthly payment Total Payment = Principal + Interest + Tax + Insurance + HOA
8. Loan-to-value ratio LTV = Loan Amount ÷ Property Price × 100

Step-by-step calculation

See exactly how the calculator solves the mortgage problem using your current inputs.

Amortization schedule

Your payment-by-payment loan balance and interest breakdown.

Month Payment Principal Interest Balance

Calculation history

Your recent calculations are saved locally in this browser.

Frequently asked questions

Common questions about mortgage calculations.

A mortgage payment is the amount paid toward a home loan each month. It commonly consists of principal and interest, and may also include taxes, insurance and HOA fees.
Yes. A larger down payment means borrowing less money, which generally reduces the principal and interest payment.
Generally, yes. Extra payments applied to principal reduce the outstanding balance, causing less interest to accumulate over the remaining life of the loan.
LTV means Loan-to-Value. It compares the mortgage amount with the property's value or purchase price.
No. Results are estimates based on the information entered. Actual lender payments can vary because of fees, lender policies, taxes, insurance, rates and other factors.
Mortgage Calculator • Estimates for educational and planning purposes