Home Loan Calculator
Include all property costs to see your real monthly payment.
Home Loan Details
Total Monthly Payment
Home Loan Amortization Schedule
Principal and interest breakdown for every month.
| Month | Payment | Principal | Interest | Extra | Balance |
|---|
What makes up your total home loan payment?
Your total monthly payment is more than just the EMI. It typically includes:
- Principal & Interest (EMI) — the loan repayment itself.
- Property Tax — annual tax divided into monthly payments.
- Home Insurance — protects your property against damage.
- PMI — required when your down payment is below 20%.
- HOA Fees — for communities with shared amenities.
Home Loan Calculator FAQ
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Home Loan Calculator — plan your dream home
A home loan is the largest financial commitment most people ever make. This calculator helps you understand exactly what your monthly EMI will be, how much interest you will pay over the full tenure, and how much of each payment builds your equity. Compare tenures, explore the effect of a slightly lower interest rate, and plan your home purchase with confidence.
Current home loan interest rates in India (2025)
SBI, HDFC, ICICI and other major banks offer home loans between 8.4% and 10.5% p.a. depending on your credit score, loan amount and employer category.
Women borrowers and properties with green certification often qualify for 0.05–0.15% rate discounts.
The repo rate set by the RBI is the single biggest driver of floating home loan rates. When the repo rate falls, your EMI can be reduced or the tenure shortened.
Tax benefits of a home loan
Under Section 24(b), interest paid on a self-occupied home loan is deductible up to $2,00,000 per year. For a let-out property, there is no upper cap on the interest deduction.
Under Section 80C, principal repayment qualifies for deduction up to $1,50,000, shared with other eligible investments like PPF and ELSS.
First-time home buyers can claim an additional $50,000 interest deduction under Section 80EE (conditions apply).
How much home loan can you afford?
The 28/36 rule: keep your housing payment below 28% of gross income, and total debts below 36%.
In the US, mortgage lenders generally follow the 28/36 qualifying ratio rule and require down payments ranging from 3% to 20%.
A common multiplier is 4–5× your annual income. For a $100,000 annual income, expect home purchasing power around $350,000 to $450,000.
How to use this calculator
- Enter the home loan amount you plan to borrow.
- Input the interest rate — check your bank's current rate or use 8.5% as a starting point.
- Set the tenure, typically 20–30 years.
- Review the EMI, total interest and amortization results.
- Adjust the tenure slider to see how much interest you can save with a shorter term.
Pro tips
- A 0.5% lower rate on a $400,000, 30-year loan saves over $40,000 in interest.
- Deduct qualified mortgage interest on IRS Form 1040 Schedule A to lower your tax bill.
- If your income grows, use annual bonuses for part-prepayment — it cuts interest massively.
Advantages & considerations
✅ Advantages
- Longest tenure available (up to 30 years) keeps EMI low
- Major tax deductions on both interest and principal
- Real estate historically appreciates with inflation
⚠️ Considerations
- Long tenures mean huge total interest payouts
- Bank charges processing fees, legal and valuation charges
- Fall in property value can leave you with negative equity