Mortgage Calculator
The mortgage math banks don't explain — the real check you write, where your early payments actually go, and what an extra $200 really buys you. Everything computes on your device.
Pick your market
US mortgage math first — with an India home-loan mode and a refinance checker on the same page.
Results update as you type. PMI is auto-estimated when your down payment is under 20% — and it comes with an end date.
True monthly cost
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Interest is charged on the balance you still owe — so every extra dollar early on shrinks the balance that 29 more years of interest are calculated on. The same $200 matters far less in year 20 than in year 2.
Same loan, same rate — only the term changes. The 15-year costs more per month but the interest gap is usually staggering.
PMI is an estimate (typically 0.5–1% of the loan per year). By law it must fall off automatically at 78% of the original value; you can usually ask to drop it at 80% with a good payment history.
This page does math — it doesn't give financial advice. Property tax, insurance and PMI differ by place and lender, so confirm the real numbers on your Loan Estimate before deciding anything.
The only question that matters: how many months until the savings have paid back the closing costs — and will you stay that long?
Indian home loans use monthly reducing-balance EMI — the same math as a US mortgage. Floating-rate loans carry no prepayment penalty by RBI rule.
Monthly EMI
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Most Indian lenders keep your EMI the same after a prepayment and cut the tenure instead — which saves far more interest than lowering the EMI would. One extra EMI a year can shave years off the loan.
This page does math — it doesn't give financial advice. Rates, fees and prepayment rules differ by lender, so confirm the real numbers on your sanction letter before deciding anything.
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