Mortgage Calculator
Estimate your full monthly housing payment with principal, interest, property tax, insurance, HOA, and PMI. Compare long-term cost and overpayment savings.
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Mortgage Inputs
₹
₹
%
years
₹
₹
₹
₹
₹
Total Monthly Housing Cost
₹0
Loan Amount
₹0
LTV Ratio
0.0%
Principal + Interest
₹0
Total Interest
₹0
Payoff Date
-
Overpayment Savings
Interest Saved₹0
Time Saved0 months
New Payoff Date-
New Total Paid₹0
Mortgage Formula
The principal and interest payment follows the standard amortization formula:
M
=
P
×
r(1+r)n
(1+r)n−1
Total Monthly Housing Cost = Principal & Interest + Property Tax/12 + Insurance/12 + HOA + PMI.
Smart Mortgage Strategies
- Improving down payment lowers LTV, which can reduce interest rate and eliminate PMI sooner.
- Even modest monthly overpayments can cut years off your mortgage and save large interest costs.
- Review insurance and property tax annually, as they materially affect monthly affordability.
- Refinance only when total refinancing costs are justified by long-term interest savings.
Frequently Asked Questions
What is included in my monthly payment here?
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This calculator includes principal + interest and optional monthly ownership costs: property tax, insurance, HOA, and PMI.
Does overpayment directly reduce principal?
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Yes, this model applies extra monthly payment directly toward principal, reducing both loan term and total interest.
Is this a lender quote?
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No. It is an estimate for planning. Actual lender terms and escrow requirements can differ.