What is it & why use it?
Calculate your monthly mortgage payments, interest, and amortization schedule using our Mortgage Calculator. This tool on Calci.in helps prospective homebuyers plan finances effectively.

Formula (explained)
EMI = [P × r × (1+r)^n] ÷ [(1+r)^n – 1]
Where P = Loan amount, r = monthly interest rate, n = tenure in months
Variables: P = Principal loan amount, r = interest rate per month, n = total months.

Example calculation
Loan ₹50,00,000, Rate 8% (0.0067 monthly), Tenure 240 months → EMI ≈ ₹41,822.

Benefits & use cases
Plan home loan repayments
Compare loan tenures
Understand interest vs principal breakup

Related calculators on Calci.in
EMI Calculator
Property Tax Calculator
Stamp Duty Calculator

External references (authority sources)
Investopedia – Mortgage Calculator

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FAQs
Q1: What is a mortgage?
A: A long-term loan for buying property, repaid in EMIs.
Q2: How is EMI calculated?
A: Using principal, interest rate, and tenure in the EMI formula.
Q3: Does tenure affect EMI?
A: Yes, longer tenure reduces EMI but increases total interest.
Q4: Is prepayment allowed?
A: Yes, many banks allow prepayment to reduce loan burden.