Mortgage Calculator
Calculate your total monthly mortgage payment including taxes and insurance.
Assumptions used in this calculation
- Default tax, insurance and HOA figures: Property tax, homeowners insurance and HOA/maintenance are not user inputs here, the example uses representative defaults (₹24,000/yr tax, ₹12,000/yr insurance, ₹1,000/mo HOA). Substitute your own figures for an accurate total.
- Interest method: The principal-and-interest portion uses the same monthly reducing-balance formula as the EMI calculator.
About this calculator
Budgeting for a home purchase around the EMI alone routinely underestimates the real monthly outlay, property tax, homeowners insurance and HOA or maintenance charges stack on top of principal and interest, and together they can add thousands to what you'll actually owe each month. This calculator takes your loan amount, interest rate and tenure to compute the standard reducing-balance EMI, then adds representative monthly property tax, insurance and HOA figures to show the full PITI (Principal, Interest, Taxes, Insurance) payment, the number that actually determines what you can afford. Manually combining an EMI formula with separate annual tax and insurance figures converted to monthly amounts is where budgeting estimates most often go wrong. Seeing the full payment upfront, rather than discovering the gap between EMI and total cost after moving in, avoids a nasty budget surprise.
Worked example
₹25,00,000 loan, 9%, 20 years, ₹24,000/yr tax, ₹12,000/yr insurance, ₹1,000/mo HOA
Result: Total monthly payment ≈ ₹25,493
How to use this
- 1Enter the home price and your down payment.
- 2Set the interest rate and loan term.
- 3Read your estimated monthly payment, including principal and interest.
Troubleshooting
My real mortgage quote is different from this estimate.
This calculator covers principal and interest only, your actual payment may also include property tax, insurance and PMI depending on your lender.
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