Loanlytics

Mortgage & Home Loan Calculator
Plan smarter: compare monthly payments, interest, and loan scenarios before you commit.

Estimate monthly payments, total interest, and amortization schedule. Run scenarios for prepayments, refinancing, affordability, rate stress, and rent vs buy decisions.

Note: This calculator is a general information and illustration tool only. It does not provide financial, investment, legal, tax, or mortgage advice and does not take your personal circumstances into account. Results are estimates and may differ from figures provided by lenders or advisers. Before making any borrowing or investment decisions, consider speaking to a qualified financial adviser or mortgage professional. By using this calculator you agree that its creators and publishers are not responsible for any decisions or outcomes based on these estimates.

Loan Inputs

Enter the total home value.
Set between 10% and 95% of home price.
Select from 3 to 50 years.
Select from 2% to 20% per year.
Calculations stay the same; amounts are shown with your local currency symbol.
Choose "Yes" if your mortgage has already started.
Monthly payment (monthly payment)–
Loan amount–
Loan Summary
Amortization Schedule
Usage guide
Affordability check

Overall Loan Summary

This chart shows how your total payments over the life of the loan are split between principal and interest.

Key Loan Details
Monthly monthly payment–
Total monthly payments (months)–
Loan principal–
Total interest paid–
Loan start–
Final payoff–
Till date & remaining (for existing loans)
For new loans, till-date values are zero until monthly payments start.
Principal paid (till date)–
Interest paid (till date)–
Outstanding principal–
Outstanding interest–
Months left (monthly payments)–

Amortization Schedule

View the percentage of principal and interest in each monthly payment over the life of the loan. Hover over a specific month to see detailed values below. The red line shows how your outstanding principal reduces over time.

Principal (monthly payments already paid)
Interest (monthly payments already paid)
Principal (still to pay)
Interest (still to pay)
Month:–
Monthly monthly payment:–
Principal this month:–
Interest this month:–
Balance after payment:–
Loan amount–
Total interest paid–
Total cost of loan–
Monthly monthly payment–
Interest cost as % of principal–
Payoff date–
Principal paid (till date)–
Interest paid (till date)–
Months left–
Outstanding principal–
Outstanding interest–

Smart tips to manage your home loan

  • Try to keep your monthly payment within ~30–35% of your monthly income so you retain room for savings and lifestyle expenses.
  • A higher down payment lowers your monthly payment and can save a large amount of interest over the loan’s life.
  • Early prepayments matter the most β€” even small extra payments in the initial years reduce interest sharply.
  • Maintain an emergency fund covering at least 6 months of monthly payments before committing to aggressive prepayments.
  • For floating-rate loans, always check affordability under a +1–2% interest rate stress.
  • Review your loan every few years β€” rate changes, refinancing, or balance transfers may lower total cost.
  • Avoid choosing a very long tenure only to reduce monthly payment β€” lower monthly payment often means much higher total interest.

Usage guide

What this loan calculator helps you do

  • Estimate your monthly monthly payment, total interest and total payments for a new or existing home loan.
  • See how your repayment evolves over time via an amortization schedule and principal vs interest split.
  • Run practical what-if scenarios (affordability checks, rate/tenure changes, refinancing, moratoriums, etc.) to compare choices before you commit.

Tip: Start by filling the Loan inputs on the left and clicking Calculate Mortgage. Then open tabs/scenarios to explore.

Tab-wise overview (inputs & outputs)

  • Loan Summary
    • Inputs: Loan inputs (amount, rate, tenure, etc.).
    • Outputs: monthly payment, totals, and high-level charts / summary of the loan.
  • Amortization Schedule
    • Inputs: No additional inputs required - all details available from 'Loan Inputs' panel.
    • Outputs: Month/year-wise breakup of monthly payment into principal and interest, along with outstanding balance over time.
  • Affordability Check
    • Inputs: Income and expense fields required by the selected scenario (shown inside the tab).
    • Outputs: Affordability indicators, stress checks, and decision-friendly commentary.
  • Loan Planning (New Loan)
    • Inputs: Base loan inputs (from 'Loan Inputs' panel) plus scenario-specific alternates (interest rate, tenure, down payment, etc.).
    • Outputs: Side-by-side comparisons and charts to help choose a better loan structure.
  • Existing Loan Analysis
    • Inputs: Existing loan details (start month/year, current balance or paid-to-date where applicable) plus scenario assumptions.
    • Outputs: Impact of rate changes, refinancing or balance transfer, and other adjustments on monthly payment, payoff date, and total interest.

Tabs with multiple scenario buttons include a quick, high-level summary in the shaded header area; open a scenario for detailed inputs and outputs.

Affordability check

Affordability check: Use these scenarios to sanity-check whether this home loan fits your monthly budget β€” monthly payment load, savings buffer, rent-vs-buy trade-offs, and resilience to rate shocks.

Loan planning (new loan)

Loan planning (new loan): Use these scenarios to plan a new loan starting todayβ€”test prepayments, compare tenures, and compare alternate interest rates to reduce interest cost and reach your payoff goal faster. All the below scenarios are primarily applicable for new home loans.

Existing Loan Analysis

Existing loan analysis: Use these scenarios to see how changes to a loan you are already repaying impact your remaining monthly payment, payoff date, and total interest.

Frequently Asked Questions

Here are some common questions about using this mortgage and home loan monthly payment calculator, prepayments, interest rate changes, affordability checks, and the rent vs buy analysis.

1. What is a mortgage / home loan monthly payment calculator and how should I use it?

This calculator estimates your monthly monthly payment, total interest, and amortization schedule for a new or existing home loan. Start by filling the loan inputs on the left and clicking Calculate Mortgage, then use the tabs to view the amortization schedule, affordability checks, and planning scenarios such as prepayments, tenure comparison, and rate changes. For additional details, please refer the 'Usage guide' tab for tab-wise inputs and outputs respectively.

2. How accurate are the results from this mortgage calculator?

The calculator uses standard monthly payment and amortization formulas that are widely used by lenders. However, actual offers may differ due to fees, changing interest rates, compounding rules, or lender-specific terms. Treat these results as estimates to compare options, not as a final sanction letter or loan offer.

3. How do extra mortgage prepayments reduce my interest and loan tenure?

Extra payments directly reduce your outstanding principal, so future interest is calculated on a lower balance. In the Loan planning (new loan) tab you can model regular extra prepayments or adhoc lump-sum prepayments and see how much interest you save and how many monthly payments you can potentially skip by paying off the loan earlier.

4. Should I choose a longer tenure with lower monthly payment or a shorter tenure with higher monthly payment?

A longer tenure usually means a lower monthly payment but a much higher total interest outgo. A shorter tenure increases the monthly payment but can save a significant amount of interest. Use the Compare tenure scenario to see side-by-side monthly payment, total payments, interest cost, and principal repayment profile for different loan tenures and choose what fits your cash flow and risk comfort.

5. What happens if interest rates increase on my home loan?

For floating-rate loans, a rate increase can raise your monthly payment, extend your tenure, or both, depending on the lender’s policy. You can use the Interest rate stress test under Affordability check and the Existing Loan Analysis scenarios to see how higher rates affect your monthly payment, interest cost, payoff date, and overall affordability before rates actually move.

6. How does the Rent vs Buy calculator help me decide?

The Rent vs Buy scenario compares total rent paid, home ownership costs, equity built in the property, and potential investment growth if you continue renting and invest your surplus instead. It also lets you test different assumptions for rent growth, home price growth, and investment returns to see how the rent vs buy decision changes over time.

7. Does this tool replace advice from a financial or mortgage professional?

No. This calculator is designed as an educational and planning aid to help you understand your home loan, compare scenarios, and ask better questions. It does not take your full financial situation into account and does not provide personalised financial, tax, or legal advice. Before making borrowing or investment decisions, it is sensible to consult a qualified financial adviser or mortgage specialist.