Mortgage Calculator India
Estimate your monthly home loan payment — principal, interest, taxes and insurance.
Results update as you type.
About this calculator
Figures shown use India defaults: amounts in INR (₹) and a sample interest rate of 8.7%. Edit the amount, term and rate above to model your own India mortgage and view the full amortization schedule.
A mortgage calculator estimates the monthly payment on a home loan from three core numbers: the amount you borrow (the home price minus your down payment), the annual interest rate and the length of the loan. The principal-and-interest portion comes from the standard amortization formula, so every payment is the same size — early payments are mostly interest and later ones mostly principal, until the balance reaches zero at the end of the term. Turn on advanced options to layer property tax, home insurance, PMI, HOA and extra payments on top for a true monthly figure.
For example, a 350,000 home with 70,000 down leaves a 280,000 loan. At a 6% annual rate over 30 years the principal and interest works out to about 1,679 a month, and over the full term you would pay roughly 324,000 in interest — more than the original loan itself. Adding property tax and insurance through the escrow fields raises the monthly figure but shows the payment your lender actually collects each month.
Use a mortgage calculator before house-hunting to set a realistic budget, to compare a 15-year against a 30-year term, or to see how a larger down payment or an extra 100 a month shrinks both your payoff date and the total interest you hand over.
Frequently asked questions
How is a mortgage payment calculated?
The principal and interest portion uses the standard amortization formula: M = P·r·(1+r)^n / ((1+r)^n − 1), where P is the loan amount, r the monthly rate, and n the number of monthly payments. Taxes, insurance and HOA are added on top.
Does a bigger down payment lower my payment?
Yes. A larger down payment reduces the amount financed, which lowers both the monthly principal-and-interest and the total interest you pay over the loan.
What does an extra monthly payment do?
Extra principal each month is applied straight to the balance, so the loan is paid off earlier and you pay noticeably less total interest. Even a small extra amount early in the loan has an outsized effect because it removes interest that would have compounded for decades.
What is included in an escrow payment?
Escrow is the part of your monthly payment that is not principal or interest — typically 1/12 of the annual property tax and home insurance, plus any PMI and monthly HOA or other fees. Your lender holds it and pays those bills on your behalf.
Should I choose a 15-year or 30-year mortgage?
A 15-year term has a higher monthly payment but a lower rate and far less total interest, since you borrow the money for half as long. A 30-year term keeps the monthly payment low and flexible. Enter each term to compare the monthly cost and lifetime interest side by side.
What is PMI and when do I have to pay it?
Private mortgage insurance protects the lender when your down payment is below 20% of the price. It is added to the monthly payment and can usually be dropped once you have built up about 20% equity. Enter an annual PMI figure under advanced options to include it.
How much does the interest rate change my payment?
The rate has a large effect over a long term. On a 280,000 loan over 30 years, each one-point rise in the rate adds roughly 150–180 to the monthly principal and interest, and tens of thousands to the total interest. It is worth shopping around.
API — use this calculator from code
Call this calculator as a free JSON endpoint — no key required. Send the field values below as query parameters or JSON. Read the full API docs →
Endpoint
GET https://calculator.free/api/v1/mortgage/?country=incurl
curl "https://calculator.free/api/v1/mortgage/?price=350000&down=70000&rate=8.7&years=30"JavaScript fetch()
const r = await fetch(
"https://calculator.free/api/v1/mortgage/?" + new URLSearchParams({
"price": "350000",
"down": "70000",
"rate": "8.7",
"years": "30"
}));
const data = await r.json();
console.log(data.results);Results are estimates for general guidance only, not financial, medical or tax advice.