Calculate mortgage payments, view amortization schedules, analyze prepayment savings, and determine home affordability with our comprehensive calculator
This free mortgage calculator works out your monthly EMI (equated monthly instalment), total interest and full amortisation schedule for any home loan. Enter the loan amount, interest rate and tenure to see exactly how much goes to principal versus interest each month, and use the prepayment analysis to see how much a lump-sum or extra monthly payment saves.
It handles home loans in India (₹), the UK (£), the US ($), UAE and Australia, supports fixed and floating comparisons, and lets you add processing fees, insurance and property tax so the number you plan around is the real cost of ownership, not just the headline EMI.
EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the principal, r the monthly interest rate (annual rate ÷ 12 ÷ 100) and n the number of months. A ₹50 lakh loan at 8.5% for 20 years gives an EMI of about ₹43,391.
Yes — because interest is charged on the outstanding balance, every prepayment in the early years removes interest for the remaining tenure. The calculator shows both the interest saved and the months removed from the loan.
A shorter tenure means a higher EMI but far less total interest; a longer tenure lowers the EMI but can double the interest paid. Compare both in the scenario table to find the EMI you can sustain.
Principal, interest, processing fees, mortgage insurance, and in many countries property tax and homeowner insurance. Add these in the advanced fields to see the true monthly outgoing.
Yes — the EMI formula is the same. For loan comparisons across banks use the dedicated Loan Calculator.