How is the monthly payment calculated?

Using the standard amortization formula: M = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where P is the loan amount (home price minus down payment), r is the monthly rate and n is the number of months.

Does this include property tax and insurance?

No — those vary by location. This tool computes the principal + interest payment only. Add your local property tax and home insurance to estimate the full monthly housing cost (PITI).

What is a good down payment?

20% is the conventional threshold to avoid private mortgage insurance (PMI) in the US. Some loan types allow 3–5% down, but you'll pay PMI until you reach 20% equity.

Can I model a 0% interest loan?

Yes. If the rate is 0, the tool falls back to dividing the loan amount by the number of months.

Are my mortgage details uploaded anywhere?

No. All calculations happen in your browser. Your financial inputs never leave your device.

How does this differ from the Loan EMI calculator?

The mortgage calculator adds a down payment field and shows the loan amount separately from the home price — same amortization math, optimized for home-buying scenarios.

Mortgage Calculator

Home price → monthly payment, total interest & full breakdown.

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See how it works

Watch a quick simulation of this tool in action — no file needed.

How to use Mortgage Calculator

Follow these steps — everything happens instantly in your browser.

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Step 1. Enter the home price you're considering.
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Step 2. Enter the down payment as a percentage of the price (e.g. 20 for 20%).
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Step 3. Enter the annual interest rate and the loan term in years.
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Step 4. See the monthly mortgage, loan amount, total interest and total paid, with a principal-vs-interest breakdown.