Home Loan Calculator

Popular

Calculate home loan EMI and interest

$Currency

Home Loan Information

Home Price$300,000

Down Payment$60,000(20.0%)

Interest Rate (Annual)6.5%

Loan Tenure20 years

Total Monthly Payment

$1,789

Including all costs

Monthly EMI

$1,789

Loan Amount

$240,000

Total Interest

$189,450

Total Payment

$429,450

Payment Breakdown

Principal Amount

$240,000

Interest Amount

$189,450

Yearly Payment Summary

Year 1Balance: $233,949

Principal:$6,051

Interest:$15,422

Year 2Balance: $227,493

Principal:$6,456

Interest:$15,017

Year 3Balance: $220,605

Principal:$6,888

Interest:$14,584

Year 4Balance: $213,256

Principal:$7,350

Interest:$14,123

Year 5Balance: $205,414

Principal:$7,842

Interest:$13,631

Note: This calculator provides estimates based on the information provided. Actual loan terms, interest rates, and fees may vary based on your credit score, lender policies, and market conditions.

Tip: A 20% down payment typically helps you avoid PMI (Private Mortgage Insurance), which can save you significant money over the life of your loan.

How to Use the Home Loan Calculator

Select Your Currency: Choose from 8 major currencies (USD, EUR, GBP, INR, JPY, AUD, CAD, CNY)
Enter Home Price: Input the total property value or purchase price of your dream home
Set Down Payment: Typically 20% for conventional loans or 3.5% for FHA loans
Input Interest Rate: Enter the annual mortgage rate (currently 6-8% for most borrowers)
Choose Loan Tenure: Select repayment period (5-30 years)
Add Advanced Costs: Include annual property tax, home insurance, and HOA fees
View Complete Results: See monthly EMI, total interest, complete payment breakdown
Download Report: Save your mortgage calculation for comparing lenders

Advanced Mortgage Calculator Features

Multi-Currency Support: Calculate mortgages in 8 major currencies
Interactive Sliders: Smooth sliders for instant adjustments
Real-Time Calculations: Monthly payment updates instantly
Complete Cost Breakdown: Include property tax, insurance, and HOA fees
Yearly Amortization: Detailed year-by-year breakdown
Visual Payment Charts: Graphical representation of costs
Downloadable Reports: Export complete mortgage calculations
Mobile-Optimized: Works flawlessly on all devices
Privacy Protected: All calculations performed locally
Unlimited Usage: Run unlimited scenarios without registration

Why Use Our Home Loan Calculator?

Buying a home is the biggest financial decision most people make. Our comprehensive home loan calculator empowers you with accurate mortgage insights before you commit. See exactly how much house you can afford, what your monthly payments will be including taxes and insurance, and how different down payments affect your total cost.

Accurate Budgeting: Know your complete monthly payment including PITI
Compare Lenders: Quickly evaluate mortgage offers from banks and credit unions
Optimize Down Payment: See how 20% vs 10% affects PMI and monthly costs
Save Thousands: Discover how 15-year vs 30-year mortgages impact total interest
Plan Long-Term: Understand decade-long commitment before signing
Include All Costs: Factor property taxes, insurance, and HOA fees
Refinance Analysis: Calculate potential savings from refinancing

Who Should Use This Home Loan Calculator?

First-Time Homebuyers

Navigate the complex world of mortgages with confidence. Understand how much house you can afford based on your income and savings. Compare FHA, conventional, and VA loan options.

Home Upgraders

Calculate financing for your next home while managing current mortgage. Compare costs of selling vs renting current property. Evaluate how much larger payment you can handle.

Refinancing Homeowners

Calculate potential savings from lower interest rates or shorter loan terms. Determine break-even point considering closing costs and fees.

Real Estate Investors

Analyze investment property financing and cash flow. Calculate mortgage payments vs expected rental income for portfolio optimization.

Understanding Home Loan & Mortgage Calculations

A home loan calculator (also called a mortgage calculator) is an indispensable tool for anyone planning to purchase property or refinance an existing mortgage. Our calculator uses the industry-standard amortization formula to compute monthly payments based on loan principal, annual interest rate, and tenure.

Essential Mortgage Terms Explained:

Principal Amount: The actual mortgage loan amount (home price minus down payment)
Interest Rate: Annual percentage rate, currently 6-8% for most qualified borrowers
Loan Tenure: Repayment period, typically 15 or 30 years for residential mortgages
Monthly EMI: Fixed monthly payment covering principal and interest (P&I)
Property Tax: Annual tax assessed by local government, typically 0.5-2.5% of home value
PMI: Private Mortgage Insurance required when down payment is less than 20%
PITI: Principal, Interest, Taxes, Insurance - your complete monthly housing payment

Home Loan Calculator FAQs

How accurate is this home loan/mortgage calculator?

This calculator uses the exact amortization formula that banks and mortgage lenders use worldwide. Results are mathematically precise based on your inputs. Always get final numbers from your lender.

What's the difference between 15-year and 30-year mortgages?

30-year mortgages offer lower monthly payments but significantly higher total interest costs. 15-year mortgages require much higher monthly payments but save massive amounts in interest. Use our calculator to compare both and see which fits your budget.

How much down payment do I need to buy a house?

It depends on your loan type. Conventional loans require 3-20% down. FHA loans allow 3.5% down. VA loans offer 0% down. However, putting down less than 20% requires PMI (Private Mortgage Insurance). Use the calculator to see how different down payments affect your total cost.

Is my financial data secure?

Yes! All calculations happen locally in your browser. Your financial data never leaves your device. We don't collect, store, or track any data. Your privacy is completely protected.