Core Calculators

Mortgage Calculator

Calculate home loan EMI from property price and down payment

Loan details

₹
₹
%
yrs

Monthly EMI

₹0

How mortgage EMI is calculated

Loan amount is the property price minus your down payment. EMI is then worked out on that loan amount using the standard reducing-balance formula used for home loans in India and mortgages in the USA, Canada and much of Europe.

A larger down payment cuts the loan amount and the monthly payment. A longer tenure lowers EMI but usually raises total interest.

Loan amount = property price − down payment
EMI = P × r × (1+r)n / ((1+r)n − 1)

How to use this calculator

  1. Enter the property price and how much you will pay upfront as down payment.
  2. Add the annual mortgage or home loan rate you were quoted.
  3. Choose tenure in years. Compare EMI with your monthly income before you shortlist homes.

Worked example

Example (India): a ₹80,00,000 flat with 20% down payment leaves a ₹64,00,000 loan. At 8.75% for 20 years, use the tool to see EMI and total interest side by side.

Example (USA / Canada): enter purchase price, down payment and quoted mortgage rate the same way. Local rules on insurance, taxes and amortization schedules still sit with your lender.

When this helps

Use it while house hunting, comparing 15 vs 30 year styles of tenure, or checking whether a higher down payment is worth it.

What this does not cover

Property tax, HOA fees, stamp duty, registration and mortgage insurance are not in this EMI. Confirm the full monthly housing cost with your bank or broker.

Related guide

Read Mortgage payment basics for first-time buyers. Down payment, tenure and what EMI leaves out - written for first-time buyers.

Why use it

Detailed features

Bank-standard

Reducing-balance EMI formula.

Interest breakdown

See total interest and repayment.

Instant results

Updates as you type.

On the go

Also in the Toolance app.

Frequently asked questions

Banks look at net income, existing EMIs and a FOIR limit, often around 50% to 60% of income for all loans combined. Use our loan eligibility calculator for a rough maximum before you shortlist properties.
Lenders usually finance 75% to 90% of property value depending on the loan amount and your profile. You pay the rest plus registration, stamp duty and other charges from your own funds.
Loan amount equals property price minus down payment. EMI is then computed on that amount using the annual interest rate and tenure in years. Our mortgage calculator does this in one step.
A shorter tenure means higher EMI but much less total interest. If your budget allows the higher EMI, you save lakhs over the loan life. Compare both options here before you apply.
On floating loans, the bank can revise rate when RBI repo moves, so EMI or tenure may change. Fixed-rate products keep EMI stable for the agreed period, then often switch to floating.
No. EMI covers only principal and interest on the home loan. Society maintenance, property tax and insurance are separate monthly costs you should budget for.
This is a planning estimate only. Actual sanction amount, rate, insurance and legal fees come from your lender. We do not replace professional home loan counselling.
No registration required. Enter property price, down payment, rate and tenure and see EMI instantly at no cost.