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Estimate your monthly mortgage payment with down payment, property tax, insurance and PMI — plus amortization schedule, payoff date and lifetime cost.
No PMI applied — your down payment is 20% (≥20%).
Total Monthly Mortgage Payment
Loan of ₹60,00,000 at 8.5% for 20 years • Payoff by Aug 2046
Principal + Interest
₹52,069
Property Tax
₹1,000
Insurance
₹500
PMI
₹0
Down Payment
₹15,00,000
Total Interest
₹64,96,655
Tax + Ins + PMI
₹3,60,000
Lifetime Cost
₹1,43,56,655
| Principal | ₹60,00,000 |
|---|---|
| Interest | ₹64,96,655 |
| Property Tax | ₹2,40,000 |
| Insurance + PMI | ₹1,20,000 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| Year 1 | ₹1,19,414 | ₹5,05,419 | ₹58,80,586 |
| Year 2 | ₹1,29,969 | ₹4,94,864 | ₹57,50,617 |
| Year 3 | ₹1,41,457 | ₹4,83,376 | ₹56,09,161 |
| Year 4 | ₹1,53,960 | ₹4,70,872 | ₹54,55,200 |
| Year 5 | ₹1,67,569 | ₹4,57,264 | ₹52,87,631 |
| Year 6 | ₹1,82,381 | ₹4,42,452 | ₹51,05,250 |
| Year 7 | ₹1,98,501 | ₹4,26,331 | ₹49,06,749 |
| Year 8 | ₹2,16,047 | ₹4,08,786 | ₹46,90,702 |
| Year 9 | ₹2,35,144 | ₹3,89,689 | ₹44,55,558 |
| Year 10 | ₹2,55,928 | ₹3,68,904 | ₹41,99,629 |
| Year 11 | ₹2,78,550 | ₹3,46,283 | ₹39,21,079 |
| Year 12 | ₹3,03,171 | ₹3,21,661 | ₹36,17,908 |
| Year 13 | ₹3,29,969 | ₹2,94,864 | ₹32,87,939 |
| Year 14 | ₹3,59,135 | ₹2,65,697 | ₹29,28,803 |
| Year 15 | ₹3,90,880 | ₹2,33,953 | ₹25,37,924 |
| Year 16 | ₹4,25,430 | ₹1,99,403 | ₹21,12,494 |
| Year 17 | ₹4,63,034 | ₹1,61,799 | ₹16,49,460 |
| Year 18 | ₹5,03,962 | ₹1,20,871 | ₹11,45,498 |
| Year 19 | ₹5,48,508 | ₹76,325 | ₹5,96,991 |
| Year 20 | ₹5,96,991 | ₹27,842 | ₹0 |
P&I is fixed for the full term at the entered rate. Property tax, insurance and PMI are escrow-style add-ons (₹1,500/month combined) — in reality they revise periodically. PMI applies only while your down payment is below 20%. Figures are estimates, not a loan offer.
Down payments, PMI, terms, prepayment and tax benefits for mortgages and home loans.
A mortgage calculator estimates your monthly home-loan payment from the property price, down payment, interest rate and loan term. It splits each payment into principal and interest (P&I) and can add escrow items — property tax, home insurance and private mortgage insurance (PMI) — to show the true monthly outflow and total lifetime cost.
In India, RBI loan-to-value norms effectively require 10–25% down depending on property value (up to 90% financing for properties under ₹30L). A 20%+ down payment also avoids PMI-style mortgage insurance charges and lowers your EMI and total interest significantly.
Private Mortgage Insurance (PMI) protects the lender when the borrower puts down less than 20%. It typically costs 0.3–1.5% of the loan amount per year, added to the monthly payment. Once your equity crosses 20% through repayments or appreciation, PMI can usually be removed.
A 15-year term has a much higher EMI but can save you lakhs in interest — often cutting total interest nearly in half versus 30 years. A 30-year term keeps EMIs affordable and preserves liquidity. Compare both with the term presets and check the total-interest difference before deciding.
Yes. Extra payments go directly against principal, which reduces all future interest. Even one extra EMI per year on a 20-year loan can shave off roughly 3–4 years and save lakhs in interest. Use the Loan Prepayment Calculator to model exact savings.
Under the old tax regime, Section 24(b) allows up to ₹2,00,000 per year deduction on home-loan interest for a self-occupied house, and Section 80C allows up to ₹1,50,000 on principal repayment. Co-borrowers who are co-owners can each claim these separately.