Mortgage (Home Loan) Calculator
Estimate your monthly mortgage payments and total cost.
Loan Details
Payment Breakdown
Monthly EMI
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Principal Amount
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Total Interest
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Total Payment
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Understanding Your Home Loan EMI
A mortgage or home loan EMI is the fixed amount you pay to the bank each month to repay your loan. It consists of two components: the principal (the amount you borrowed) and the interest charged by the bank. In the initial years, a larger portion of your EMI goes towards interest, and this gradually shifts towards the principal amount over the loan's tenure.
This calculator uses the same standard formula as our general EMI calculator to determine your monthly payment.
Frequently Asked Questions
What is the difference between a fixed and floating interest rate?
A fixed rate remains the same throughout the loan tenure, providing predictable EMIs. A floating rate is linked to a benchmark rate and can change over time, causing your EMI to increase or decrease.
What other costs are involved in a home loan?
Besides the EMI, you should budget for a down payment (usually 10-20% of the property value), processing fees, stamp duty, registration charges, and potentially GST for under-construction properties.
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