Mortgage EMI Calculator — Global Mortgage Calculator & Amortization Tool

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Use our Mortgage EMI Calculator to estimate your monthly loan payments, total interest and payment schedule. Auto-detects currency, supports yearly/monthly views, and includes affordability checks — ideal for planning your home loan.

🌍 Global Mortgage Calculator

Auto-detected based on your location, but you can manually change it anytime.

Total purchase price of the house/property. This includes the full cost before subtracting any down payment.

The upfront amount you will pay from your savings. Loan Amount = Property Value − Down Payment.

The annual interest rate charged by your bank or lender. Example: 7.5%.

Length of the loan repayment period. Example: 20 years = 240 months.

One-time fee charged by banks or lenders, usually between 0.25%–1% of loan amount.
Enter your monthly salary/income. The calculator will check if EMI is less than 40% of your income (affordability check).

📊 Result

📅 Amortization Schedule

# Principal Paid Interest Paid Total Payment Balance

Quick start: Enter the property value, down payment and interest rate, choose tenure and currency, then click Calculate to see EMI, total interest, charts and a full amortization schedule.

Use our Mortgage EMI Calculator to estimate monthly EMIs, total interest and repayment schedule. Choose currency, switch between monthly/yearly schedules, and check affordability before you borrow.

What is a Mortgage EMI Calculator?

This is a Mortgage EMI Calculator — a tool that computes the monthly payment (EMI) you need to make to repay a home loan, shows total interest paid over the loan term, displays an amortization schedule, and visualizes principal vs interest and declining balance.

Why use a Mortgage EMI Calculator

  • Plan monthly cashflow: know exactly how much you must set aside for EMI each month.
  • Compare loan offers: test different interest rates and tenures to see which option is cheaper.
  • Affordability: check whether EMI is a reasonable percentage of your monthly income.
  • Prepayment planning: estimate how extra payments affect loan duration and interest saved.

Mortgage EMI Calculator: Quick Facts

  • EMI = Equated Monthly Installment — a fixed monthly payment combining principal + interest.
  • Most home loans compound interest monthly; EMI uses monthly interest rate in calculations.
  • Use the down payment field to compute actual loan amount = property value − down payment.
  • Optional processing fee and affordability checks help show the true cost of borrowing.

Real-Life Example Using a Mortgage EMI Calculator

Scenario: Property price ₹60,00,000, down payment ₹10,00,000, resulting loan ₹50,00,000. Annual interest 7.5%, tenure 20 years.

  1. Loan Amount (P) = ₹60,00,000 − ₹10,00,000 = ₹50,00,000
  2. Monthly interest rate (r) = 7.5% / 12 / 100 = 0.00625
  3. Number of monthly payments (n) = 20 × 12 = 240
  4. EMI = P × r × (1 + r)^n / ((1 + r)^n − 1)
  5. Plug in values: EMI ≈ 50,00,000 × 0.00625 × (1.00625)^240 / ((1.00625)^240 − 1) ≈ ₹40,265.XX
  6. Total Payment = EMI × n ≈ ₹40,265 × 240 = ₹96,63,600 (approx)
  7. Total Interest = Total Payment − P ≈ ₹96,63,600 − ₹50,00,000 = ₹46,63,600

How to Use the Mortgage EMI Calculator

  1. Select your preferred currency (auto-detected but changeable).
  2. Enter the Property Value and Down Payment. The calculator will compute the loan amount.
  3. Enter the annual interest rate (in %), and the loan term (years or months).
  4. (Optional) Add Processing Fee (%) and Monthly Income for an affordability check.
  5. Choose whether you want the amortization schedule in Monthly or Yearly view.
  6. Click Calculate to see EMI, total interest, a doughnut chart (Principal vs Interest), and a balance-decline line chart.

Benefits of Using a Mortgage EMI Calculator

  • Get an instant, accurate EMI estimate for better budgeting.
  • Visualize principal vs interest and how the balance drops over time.
  • Compare multiple scenarios (different rates/tenures/down-payments) to choose the best offer.
  • See both monthly and yearly summaries for clarity and reporting.

History of Loan Amortization and EMI

Loan amortization and fixed-payment loans have been standard in modern banking since the early 20th century. The EMI formula above is a straightforward rearrangement of the amortizing loan payment formula used by banks worldwide.

Mortgage EMI Calculator Formulas Explained

1. Loan amount
Loan amount = Property Value − Down Payment

2. Monthly interest rate
r = annualInterestRate / 12 / 100

3. Number of monthly payments
If tenure in years: n = years × 12. If input in months, use the months directly.

4. EMI (monthly payment)
EMI = P × r × (1 + r)^n / ((1 + r)^n − 1)
where P = loan principal, r = monthly rate, n = number of payments.

5. Total payment and total interest
Total Payment = EMI × n
Total Interest = Total Payment − P

6. Processing fee
Processing Fee = (Processing Fee % / 100) × P

Practical Tips for Mortgage EMI Planning

  • Compare APRs: Lenders may quote interest differently — compare effective annual rates and any processing fee.
  • Aim for 20% down payment: Reduces EMI and interest significantly, and may avoid extra PMI/insurance in some countries.
  • Prepay carefully: Small extra monthly payments reduce tenure and total interest — check prepayment penalties with your lender.
  • Affordability rule: Keep EMI below 30–40% of your monthly income for safer cashflow.
  • Lock currency: If you earn in a currency different from the loan currency, be cautious about exchange rate risk.

Mortgage EMI Calculator — Frequently Asked Questions (FAQ)

Q: What is EMI?

A: EMI (Equated Monthly Installment) is the fixed monthly payment you make to the lender that covers both principal and interest.

Q: Does this calculator account for variable interest rates?

A: This calculator computes results for a fixed interest rate. For floating-rate loans, you can run multiple scenarios with different rates to estimate likely outcomes.

Q: Can I include extra monthly payments or lump-sum prepayments?

A: The current version supports basic EMI calculation and amortization. You can simulate prepayments by reducing the loan amount or by re-running with a shorter tenure/extra payment; advanced prepayment options may be available in future updates.

Q: Are the charts printable/exportable?

A: The page provides interactive charts (principal vs interest and balance decline). You can save charts as images (right-click → save) or use built-in export if the page adds that feature later.

Q: What currency will the calculator show?

A: The calculator auto-detects a sensible default based on your browser locale. You can change currency from the selector — all numbers and symbols will update.

Mortgage EMI Calculator Disclaimer

This calculator provides estimates for informational purposes only and should not be considered financial or legal advice. Actual loan terms, interest rates, taxes and fees vary by lender and location. Always verify numbers with your bank or financial advisor before making borrowing decisions.

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