What is the Mortgage Calculator?
A mortgage calculator works out the fixed monthly payment on a home loan from the price, down payment, interest rate and term, and shows how much goes to interest each year.
How to use it
- 1
Enter the home price
And your down payment.
- 2
Set the rate and term
For example 8.5% for 20 years.
- 3
Read the payment
And the schedule below.
Features
Down payment
Set as a percentage of the price.
Taxes and insurance
Add property tax and home insurance.
Extra payments
See the interest saved and how much sooner you're debt-free.
Any currency
Rupees, dollars, pounds, euros, dirhams and more.
Popular uses
Buying a home
Know what you can afford.
Prepayment
See how extra payments shorten the loan.
Comparing offers
Try different rates and terms.
Frequently asked questions
Is this the same as an EMI?
Yes — the principal and interest part is the EMI. For Indian loans see also the EMI calculator.
Are rates fixed?
The calculation assumes a fixed rate for the whole term.