Mortgage Calculator
Calculate your monthly mortgage payment including principal, interest, property tax, and insurance (PITI). View a full amortization schedule.
Property Details
Down: ₹10,00,000 · Loan: ₹40,00,000
Monthly Payment (PITI)
₹34,713
Loan Amount: ₹40 Lakh
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
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 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.