Mortgage Calculator — EMI, Budget, Tenure & Rate
See the monthly housing cost beyond the loan payment. Enter property price and down payment, then include property tax, home insurance and association dues alongside mortgage EMI, purchase budget, repayment months and Loan APR.
A housing budget estimate. The model assumes full disbursement, equal monthly loan repayments and an unchanged rate. Enter only costs that apply to you; tax and insurance estimates are monthly budget reserves, not necessarily part of the lender’s instalment.
Plan Your Mortgage in Four Ways
Choose the number you want to solve, using your property budget or mortgage offer.
Loan payment plus monthly housing costs
Add taxes, insurance and recurring dues to the loan payment before judging your monthly housing budget.
Principal and interest
Calculate the loan instalment that reduces the outstanding balance.
Total-budget borrowing
Deduct recurring housing costs from your monthly limit before estimating principal.
Repayment horizon
Check how long the outstanding mortgage takes to clear at your chosen EMI.
Offer rate check
Infer the reducing-balance rate from principal, EMI and repayment months.
Amortization schedule
Track principal and interest over time principal vs interest tables.
A repayment plan to retain
Download monthly and yearly tables for your mortgage finance comparison.
Your mortgage finance estimate
Loan EMI (principal + interest)
₹ 0
Tax + property insurance / month
₹ 0
PITI estimate / month
₹ 0
Association + mortgage insurance / month
₹ 0
Total monthly housing budget
₹ 0
Entered recurring costs over loan term
₹ 0
Financed principal
₹ 0
Cash down payment
₹ 0
Property budget: principal + down payment
₹ 0
Cash outlay including entered housing costs
₹ 0
Unfinanced purchase costs
₹ 0
Total interest payable
₹ 0
Total payment (incl. fee)
₹ 0
Estimated Loan APR (%)
0%
Loan APR is monthly cash-flow IRR × 12, including only the upfront credit charges entered. Housing tax, insurance and dues fields are excluded from this estimate. Required credit-related insurance may affect the lender’s disclosed APR; compare its KFS. Housing costs are held constant over the term and can change later.
Select when your EMI payments will start
Four ways to check the mortgage and monthly budget
Choose a loan question, then look at the housing bills alongside it.
Mortgage EMI: isolate the borrowing cost
Calculate the principal-and-interest payment, then add your entered ownership costs to see the total monthly budget.
How this calculation works
EMI = P × r ÷ [1 − (1 + r)−n]; r = annual percentage ÷ 1200. At 0%, EMI = principal ÷ months.
Housing Budget: reserve room for recurring bills
Start with your total monthly limit. Tax, insurance and dues are deducted before the financed principal is estimated.
How this calculation works
Available EMI = housing limit − monthly ownership costs. Principal = EMI × [1 − (1 + r)−n] ÷ r; at 0%, principal = EMI × n.
Repayment Period: use only the loan instalment
Find how long the outstanding principal takes to clear with the EMI you pay toward principal and interest.
How this calculation works
Months = −ln(1 − P × r ÷ EMI) ÷ ln(1 + r), rounded up; at 0%, months = P ÷ EMI. The payment must exceed monthly interest.
Quoted Rate: check the loan portion of the payment
Infer a reducing-balance rate from the financed balance, loan EMI and instalment count, leaving ownership bills separate.
How this calculation works
The solver finds the monthly rate whose loan-payment formula matches your P&I instalment, then multiplies that rate by 12.
Read the monthly total in separate layers
This helps you distinguish a lender instalment from bills or reserves paid elsewhere.
Principal and interest
The instalment repays the mortgage. Its principal share reduces the balance; its interest share pays for borrowing. Only these two components appear in the amortization tables.
Property tax and property insurance
Annual estimates are spread over 12 months as budget reserves. Their real due dates may be annual, quarterly or otherwise. Enter current figures; the tool does not look up tax rates or quote insurance.
Association and mortgage insurance
Add society or HOA dues and a recurring mortgage-insurance charge only where applicable. These are separate fields, so you can see their effect without assuming every borrower pays them.
Terminology reference: CFPB explanation of PITI. This reference explains the components; it does not establish Indian lender requirements or tax rules.
A mortgage budget workflow before signing
Keep the loan offer and ownership bills together when reviewing the commitment.
View the 7-step mortgage planning process
- 01
Gather the purchase and loan figures
Record the agreed property price, down payment, amount financed, rate and repayment period from your written offer.
- 02
Collect the recurring housing estimates
Use a local property-tax bill or estimate, a property-insurance quotation, and the association or society’s current dues. Add mortgage insurance only if your offer includes it.
- 03
Separate loan charges from purchase costs
Enter upfront credit charges once in the APR fee field. Put separately paid acquisition costs in the purchase-cost field; avoid counting a cost again if it is already in principal.
- 04
Compare payment and budget results
Use Mortgage EMI for a known principal. Use Housing Budget when your monthly limit includes recurring bills; its available EMI will be lower than that total limit.
- 05
Check borrower and property requirements
Get the lender’s borrower and property checklist, and complete its income, credit, valuation and legal review. A calculated budget does not establish approval.
- 06
Review and accept the actual mortgage terms
Check the repayment schedule, APR disclosure, conditions, rate-reset rules and disbursement dates before signing. Ask which housing costs are paid through the lender and which remain separate.
- 07
Update estimates as bills and terms change
Recalculate when tax, insurance, dues or the mortgage rate changes. Keep the lender schedule and actual bills for final payment amounts.
Figures and documents to keep beside the calculator
The numeric inputs do not replace a lender application or property due diligence.
View the mortgage inputs and document checklist
The written mortgage offer
Sanction or offer details showing principal, applicable rate, term, loan EMI, fees and the lender’s cost disclosure.
Income and existing debt evidence
The lender may request income records, account statements and details of existing commitments for the applicants. Confirm its exact checklist.
Property and transaction records
Purchase agreement, ownership/title papers and relevant approvals or completion evidence, as applicable to the property and lender.
The property-tax estimate
A current local tax bill or an estimate for the specific property, with its payment period identified.
Insurance and association evidence
A property-insurance quote and the society or HOA’s dues schedule. Include a separate mortgage-insurance quote only if applicable.
Cash contribution and closing costs
Record the down payment and separately payable acquisition costs. Distinguish these from upfront credit charges used in the APR field.
What the mortgage estimate assumes
Use the written offer for terms the model cannot reproduce.
Constant costs, rather than future forecasts
The entered tax, insurance and dues are held constant for the repayment period. They are multiplied by the number of loan months for the term-wide budget estimate. Actual costs can increase, stop or be payable after the loan ends.
A regular monthly loan schedule
The entered rate stays unchanged; the full principal is drawn, with first repayment one month later. Rate resets, balloon payments, interest-only periods and staged drawdowns are not modelled. Loan APR includes only the entered upfront credit charges, not the separate housing-cost fields.
For Indian credit cost disclosures, compare the lender’s KFS with RBI’s APR guidance. Required credit-related charges may make the lender’s full APR differ from this estimate.
Example: the loan EMI is not the entire housing budget
Illustrative amounts, not a tax assessment, insurance quote or bank offer.
A ₹60 lakh purchase with ₹12 lakh down
The financed amount is ₹48 lakh. At an illustrative 8.75% annual rate over 240 months, principal and interest are approximately ₹42,418.11 per month. Without separately entered ownership costs, the total monthly budget equals this loan instalment.
Add tax, insurance and society dues
Annual property tax of ₹18,000 and property insurance of ₹12,000 add ₹2,500 per month. Society dues of ₹2,500 add another ₹2,500. The total housing budget is approximately ₹47,418.11 per month, with mortgage insurance set to 0.
Mortgage payment and budget questions
Use the right figure for each mode and keep separately paid costs visible.
Housing costs and purchase budget
What is included in the total monthly housing budget?
It adds the loan’s principal-and-interest instalment, annual property tax divided by 12, annual property insurance divided by 12, monthly association dues and any entered monthly mortgage insurance. These are planning figures; some costs may be paid separately from the lender’s instalment.
How does Housing Budget mode calculate the borrowing amount?
The entered monthly limit includes housing costs. The tool first deducts your monthly tax, insurance and dues estimates, then uses the remaining amount as the loan EMI to calculate principal. Your down payment is added to estimate a property purchase budget; this is not an approval or eligibility check.
What is PITI, and are association fees included?
PITI means principal, interest, taxes and insurance. Here the PITI line is the loan EMI plus the monthly property-tax and property-insurance reserves. Association dues and any separately entered mortgage insurance appear on another line and are added to the total housing budget.
Do property taxes or insurance reduce the loan balance?
No. Only the principal component of your loan instalment reduces the outstanding balance. The repayment tables therefore contain principal and interest only; the housing-cost fields are separate budget estimates.
Are tax and insurance estimates automatically calculated?
No. Enter amounts from your tax bill, insurance quotation or other applicable evidence. The fields default to zero. Annual amounts are divided by 12 for budgeting, and the model holds costs constant over the selected term.
Loan inputs and model limits
Which EMI should I use in Repayment Period or Quoted Rate mode?
Use the loan’s principal-and-interest instalment only. Exclude property tax, property insurance, association dues and other separately paid housing costs. The tool adds your entered housing costs to the result after solving the loan calculation.
Why does Loan APR exclude the recurring housing-cost fields?
This APR estimate uses monthly loan cash flows and only entered upfront credit charges. The tax, insurance and dues fields are budget items, excluded from that simplified estimate. Mandatory credit-related charges or insurance can affect your lender’s full APR; compare the lender’s Key Facts Statement.
Does the calculator model variable rates or balloon payments?
No. It assumes an unchanged rate, full disbursement and regular monthly repayments with a balancing final instalment. Future rate resets, interest-only periods, staged disbursement and balloon structures need a separate calculation based on their actual terms.
Can I use an existing mortgage balance?
Yes. Enter the outstanding principal, the applicable annual rate and remaining term, or use the loan EMI to solve the remaining repayment period. Past instalments are not added to the new schedule. Keep housing costs current when estimating your ongoing monthly budget.
Is the total monthly result the full cost of owning a property?
It covers only the loan and housing costs you enter. Utilities, repairs, maintenance outside dues, special assessments and other unentered costs are excluded. The term-wide cash estimate also assumes the entered recurring costs continue unchanged and ends at loan repayment; property costs can continue afterward.
Check the housing total before committing
Compare the loan payment with tax, insurance and dues to see the monthly budget your property needs.