Home Loan Calculator
Calculate your monthly EMI, total interest, and repayment amount for your home loan. Make informed decisions about your mortgage.
Loan Details
$50K
$2M
1%
20%
1 Year
30 Years
Calculation Results
Monthly EMI
$3,877
Principal Amount
$500,000
Total Interest
$430,480
Total Amount
$930,480
Payment Breakdown
Number of Payments:
240 months
Interest Rate:
7.5% per annum
Interest vs Principal:
46.3% : 53.7%
Understanding Home Loan EMI
What is EMI?
EMI (Equated Monthly Installment) is the fixed amount you pay every month towards your home loan. It includes both principal repayment and interest charges.
How is EMI Calculated?
EMI is calculated using the formula: EMI = [P × R × (1+R)^N] / [(1+R)^N-1], where P is the principal amount, R is the monthly interest rate, and N is the number of monthly installments.
Factors Affecting EMI
- Loan Amount: Higher loan amount means higher EMI
- Interest Rate: Lower rates result in lower EMI
- Loan Tenure: Longer tenure reduces EMI but increases total interest
- Down Payment: Higher down payment reduces loan amount and EMI