Mortgage Calculator
Calculate your monthly mortgage payment including principal, interest, taxes, and insurance. Plan your home financing effectively.
Results
Loan Amount
₹0
Monthly Payment
₹0
Total Interest
₹0
Total Cost
₹0
How to Use Mortgage Calculator
- 1
Enter the home price
- 2
Input your down payment
- 3
Specify the interest rate and tenure
- 4
View your monthly payment and total cost
Mortgage Calculator Formula
Loan = Home Price - Down Payment; Monthly Payment = [P × R × (1+R)^N] / [(1+R)^N - 1]Example Calculation
Input Values
Home Price
₹1,00,00,000
Down Payment
₹20,00,000
Interest Rate (Annual)
8.5 %
Loan Tenure
20 years
Results
Loan Amount
₹80,00,000
Monthly Payment
₹69,424
Total Interest
₹86,61,760
Total Cost
₹1,66,61,760
Frequently Asked Questions
What is the difference between mortgage and home loan?
In India, both terms are used interchangeably. Technically, mortgage means using property as collateral for any loan.
What is LTV ratio?
Loan to Value (LTV) ratio is the loan amount as a percentage of property value. Banks typically offer 75-90% LTV.
Can I transfer my mortgage to another bank?
Yes, balance transfer allows you to move your loan to another bank offering lower interest rates.