MORTGAGE CALCULATOR
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Down payment: Portion of the sale price of a home that is not financed. Your down payment amount can affect the interest rate you get, as lenders typically offer lower rates for borrowers who make larger down payments.
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Loan term: The amount of time or number of years that you will have to repay a loan. Longer term mortages can make your monthly payment amount smaller than shorter term loans by stretching out your payments over more years.
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Interest rate: Amount you’ll pay each year to borrow the money for your loan, expressed as a percentage.
Monthly payment breakdown
Total monthly payment
2171
$3,907
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Total monthly payment
=
5000
Amortization for mortgage loan
Amortization is paying off debt over time in equal installments. As the term of your mortgage loan progresses, a larger share of your payment goes toward paying down the principal until the loan is paid in full at the end of your term.
Loan amount
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Loan amount: If you’re getting a mortgage to buy a new home, subtract down payment from the home’s price. If you’re refinancing, this is the balance on your mortgage.
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Total interest paid
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Total cost of loan
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Payoff date
Optional: Make extra payments
By adding extra payments, you can pay off your loan and save on interest.
Amortization schedule breakdown
This table lists how much principal and interest are paid in each scheduled mortgage payment.
Feb 2032
| Date | Principal | Interest | Remaining balance |
|---|
| 36,459 | 124,660 | 4,963,541 | |
|---|---|---|---|
| Sep 2022 | ₹ 9,030 | ₹ 40,280 | ₹ 4,990,970 |
| Oct 2022 | ₹ 9,030 | ₹ 40,280 | ₹ 4,990,970 |
| Dec 2022 | ₹ 9,030 | ₹ 40,280 | ₹ 4,990,970 |