Mortgage Calculator

Mortgage Calculator – Use EMI, Interest Rate & Loan Planning

The Mortgage Calculator is a powerful online tool that helps you calculate monthly loan EMI (Equated Monthly Installment), interest cost, and other property-related financial charges.
This calculator is designed keeping US residents in mind, where a mortgage loan is the most common way to buy a home.

With the help of this calculator, you can instantly find your future monthly payments by entering:

Loan amount (Principal)
Interest rate (Fixed or Adjustable)
Loan tenure (years/months)
Down payment

It also includes options for extra payments and annual expense increases, making the calculation more accurate. है।

What is a Mortgage?

A mortgage is a loan secured against a real estate property.

The buyer (borrower) takes a loan from the bank and pays the seller.
The buyer has to repay this loan with interest over a fixed period (like 15 or 30 years).
A part of the EMI goes toward principal repayment, and the rest is interest.
The buyer only gets ownership of the property after the final payment.

In the US, the most common mortgage loan is the 30-year fixed-rate mortgage, used in about 70%-90% of mortgages.

Mortgage Calculation Formula

💰 EMI (Equated Monthly Installment) Formula

$$\text{EMI} = \frac{P \times r \times (1+r)^n}{(1+r)^n – 1}$$

🔹 Where:

P: Loan amount
r: Monthly interest rate (Annual ÷ 12 ÷ 100)
n: Loan tenure in months

📍 Example:

Loan = $300,000, Interest = 6% annually, Tenure = 30 years (360 months) $$r = \frac{6}{12 \times 100} = 0.005$$ $$\text{EMI} = \frac{300000 \times 0.005 \times (1+0.005)^{360}}{(1+0.005)^{360} – 1} \approx \$1,799$$ ✅ Answer: EMI ≈ $1,799 per month

Mortgage Calculator Table

Loan Amount (USD)	Interest Rate (%)	Tenure (Years)	Monthly EMI (USD)
$100,000	6%	15	$843
$200,000	6.5%	20	$1,491
$300,000	7%	30	$1,996
$500,000	7%	30	$3,327