Mortgage Calculator
Calculate your complete monthly housing payment including principal, interest, property taxes, homeowner insurance, and HOA dues.
Calculator Inputs
LiveLoan Amortization Schedule
Principal and interest repayment schedule over 10 years (120 payments)
| Year | Payment | Principal | Interest | Remaining Balance |
|---|---|---|---|---|
| Year 1 | ₹5,95,131.36 | ₹2,65,309.32 | ₹3,29,822.04 | ₹37,34,690.68 |
| Year 2 | ₹5,95,131.36 | ₹2,88,760.24 | ₹3,06,371.12 | ₹34,45,930.44 |
| Year 3 | ₹5,95,131.36 | ₹3,14,284.03 | ₹2,80,847.33 | ₹31,31,646.41 |
| Year 4 | ₹5,95,131.36 | ₹3,42,063.87 | ₹2,53,067.49 | ₹27,89,582.54 |
| Year 5 | ₹5,95,131.36 | ₹3,72,299.22 | ₹2,22,832.14 | ₹24,17,283.32 |
| Year 6 | ₹5,95,131.36 | ₹4,05,207.07 | ₹1,89,924.29 | ₹20,12,076.25 |
| Year 7 | ₹5,95,131.36 | ₹4,41,023.68 | ₹1,54,107.68 | ₹15,71,052.57 |
| Year 8 | ₹5,95,131.36 | ₹4,80,006.20 | ₹1,15,125.16 | ₹10,91,046.37 |
| Year 9 | ₹5,95,131.36 | ₹5,22,434.37 | ₹72,696.99 | ₹5,68,612 |
| Year 10 | ₹5,95,130.55 | ₹5,68,612 | ₹26,518.55 | ₹0 |
How to use the Mortgage Calculator
- 1Enter the total home purchase price.
- 2Enter down payment percentage (e.g. 10% or 20%).
- 3Enter mortgage interest rate and loan term (15 or 30 years).
- 4Optionally enter annual property taxes, home insurance, and monthly HOA fees.
- 5View the comprehensive monthly payment and total interest over the life of the loan.
How Mortgage is Calculated
Monthly principal and interest is calculated using standard mortgage amortization mathematics. Property taxes, homeowners insurance, and HOA fees are divided monthly and added to form the total payment (PITI).
P is loan amount (Home Price - Down Payment), r is monthly interest rate, and n is number of monthly payments (Years × 12).
- 1Loan Amount = $320,000
- 2Monthly P&I = $2,022.62
- 3Monthly Taxes = $400.00; Monthly Insurance = $100.00
- 4Total Monthly Payment = $2,022.62 + $400 + $100 = $2,522.62
- 5Total Interest Paid = $408,143.20
What affects Mortgage results
- Down payment size (putting down less than 20% often requires Private Mortgage Insurance / PMI).
- Mortgage term (15-year mortgages have higher monthly payments but save tens of thousands in interest).
- Local county property tax assessments.
Frequently Asked Questions
What is PITI in mortgage terminology?
PITI stands for Principal, Interest, Taxes, and Insurance — the four core components of a standard monthly mortgage payment.
What is Private Mortgage Insurance (PMI)?
PMI is an extra insurance fee charged to protect the lender if you put down less than 20% on a conventional mortgage, typically costing 0.5% to 1.5% of the loan amount annually.
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