Find your monthly mortgage payment and total interest — in dollars, pounds, euros or any currency.
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See year-by-year schedule
Popular uses
About this tool
This shows principal and interest only. In the US, add property tax, home insurance and PMI to get your full monthly cost; in the UK, compare fixed-rate periods. Try 15 vs 30 years — the shorter loan costs more each month but can save a large amount of interest.
How to use the EMI calculator
1Enter loan amountThe amount you will borrow, after your down payment.
2Enter rate and timeThe yearly interest rate from your bank, and the loan time in years or months.
3See your EMIMonthly EMI, total interest and total payment update instantly.
Questions people ask
How is a mortgage payment calculated?
M = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan, r the monthly rate (yearly rate ÷ 12) and n the number of months.