Home Loan
Mortgage Calculator
Calculate monthly payments, total interest and full amortization schedule for your home loan.
Loan amount: ₹40,00,000 · Down: ₹10,00,000 (20%)
›Optional: property tax & insurance
How mortgage is calculated
Monthly payment uses the standard amortization formula: M = P × [r(1+r)ⁿ] / [(1+r)ⁿ−1] where P = principal, r = monthly rate (annual ÷ 12), n = total months. In year 1 of a 30-year mortgage, roughly 80–90% of each payment is interest. By year 25, this flips — most of the payment reduces principal.
Impact of Down Payment
A larger down payment reduces your principal, monthly payment, and total interest paid. It also eliminates the need for PMI (Private Mortgage Insurance) if you put down 20%+. On a $400,000 home at 7%: a 10% down ($40K) vs 20% down ($80K) difference saves ~$250/month in payment and ~$90,000 in total interest over 30 years.