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Property Details

₹5L₹10Cr
%

Down: ₹10,00,000 · Loan: ₹40,00,000

5%90%
% p.a.
1% p.a.20% p.a.
yr
1 yr30 yr

Monthly Payment (PITI)

₹34,713

Loan Amount: ₹40 Lakh

52%interest

Principal

₹40 Lakh

Total Interest

₹43.31 Lakh

Total Payment

₹83.31 Lakh

Principal + Interest

₹34,713/mo

Tax + Insurance

₹0/mo

Year-by-Year Amortization

YearPrincipalInterestBalance
1₹79,609₹3,36,946₹39,20,391
2₹86,646₹3,29,909₹38,33,745
3₹94,305₹3,22,251₹37,39,440
4₹1,02,640₹3,13,915₹36,36,800
5₹1,11,713₹3,04,842₹35,25,087
6₹1,21,587₹2,94,968₹34,03,500
7₹1,32,334₹2,84,221₹32,71,166
8₹1,44,031₹2,72,524₹31,27,134
9₹1,56,763₹2,59,793₹29,70,372
10₹1,70,619₹2,45,936₹27,99,753
11₹1,85,700₹2,30,855₹26,14,053
12₹2,02,114₹2,14,441₹24,11,939
13₹2,19,979₹1,96,576₹21,91,959
14₹2,39,424₹1,77,132₹19,52,536
15₹2,60,586₹1,55,969₹16,91,949
16₹2,83,620₹1,32,935₹14,08,329
17₹3,08,689₹1,07,866₹10,99,640
18₹3,35,975₹80,581₹7,63,665
19₹3,65,672₹50,883₹3,97,994
20₹3,97,994₹18,561₹0

How It Works

Enter your home price and down payment to get the loan amount. The monthly payment is split into principal, interest, property tax, and home insurance (PITI). The amortization schedule shows exactly how much goes to principal vs interest each month — early payments are mostly interest, shifting toward principal over time.

Formula

EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P = loan amount, r = monthly rate, n = total months

Frequently Asked Questions

What is included in a mortgage payment?

A full mortgage payment (PITI) includes: Principal (loan repayment), Interest (cost of borrowing), Property Tax (estimated monthly), and Home Insurance. Lenders often collect tax and insurance into an escrow account.

How does down payment affect my EMI?

A higher down payment reduces the loan amount, which directly lowers your monthly EMI and total interest paid. A 20% down payment also typically eliminates the need for Private Mortgage Insurance (PMI).

What is amortization?

Amortization is the process of paying off a loan in equal monthly installments. In early months, most of your payment covers interest. Over time, a larger share goes to reducing the principal balance.

Should I choose a 15-year or 30-year mortgage?

A 15-year mortgage has higher monthly payments but far less total interest. A 30-year mortgage has lower payments but costs significantly more in interest over the life of the loan. Choose based on your monthly cash flow and financial goals.