Mortgage Calculator

A Mortgage Calculator is an online tool that helps you estimate your monthly home loan (mortgage) payments. Unlike a simple loan calculator, this tool gives you a complete breakdown of costs by including property taxes, insurance, HOA fees, and even extra monthly payments. With this calculator, you can plan your home-buying budget more accurately and avoid financial surprises.

Using the Mortgage Calculator is simple. Just fill in the following details:

1. Property Price – Enter the total cost of the home you want to buy (e.g., ₹3,000,000).

2. Down Payment – Add the upfront amount you plan to pay. You can enter it in ₹ amount or as a % of the property price.

3. Loan Amount – The calculator will automatically adjust based on Property Price – Down Payment.

4. Interest Rate (Annual %) – Enter the annual interest rate (e.g., 4.5%).

5. Loan Term (Years) – Choose the repayment period (e.g., 30 years).

6. Start Date (Optional) – Add the month and year when your loan begins.

7. Annual Property Tax (Optional) – Enter your yearly property tax (e.g., ₹3,600).

8. Annual Insurance (Optional) – Add your yearly home insurance cost (e.g., ₹1,200).

9. Monthly HOA (Optional) – If you live in a community with homeowners association (HOA) fees, enter the monthly amount.

10. Extra Monthly Payment (Optional) – If you plan to pay more each month to reduce the loan faster, enter the extra amount here.

After filling these details, just click “Calculate Mortgage” and instantly get:

• Monthly Mortgage Payment

• Total Interest Payable

• Total Repayment (Principal + Interest + Taxes + Insurance)

• Amortization Schedule (how your loan balance reduces month by month)