Mortgage Calculator
Plan your home purchase: payment, down payment, interest.
Buying a home is the biggest purchase most people ever make. Enter the price, down payment, interest rate and term to see your monthly payment and the true lifetime cost of the loan. A bigger down payment shrinks both your monthly bill and the interest you'll pay over decades.
How it's calculated
The loan amount (price minus down payment) is amortized with the standard EMI formula over the full term; total interest is the sum of all payments minus the amount borrowed.
Frequently asked questions
How much house can I afford?
A common rule is that housing costs shouldn't exceed 28% of gross monthly income. Enter a few home prices here and check which monthly payment fits comfortably inside that budget — with room left for taxes, insurance and maintenance.
Is a 15-year or 30-year mortgage better?
A 15-year term has higher monthly payments but dramatically less total interest and usually a lower rate. A 30-year term costs less per month, giving you flexibility. There's no universal winner — it depends on your cash flow and goals.
What does the down payment change?
Every extra percent down reduces the amount you borrow, which lowers both the monthly payment and lifetime interest. Putting down 20% or more also typically avoids private mortgage insurance (PMI).