Mortgage Calculator
Mortgage calculator.
📊
Enter values and click Calculate
🧮 Mortgage Payment Formula
M = P × [r(1+r)ⁿ] / [(1+r)ⁿ - 1]
Where: M = Monthly payment, P = Loan principal (price - down payment), r = Monthly interest rate, n = Total months
Frequently Asked Questions
How much house can I afford?
A common rule: your home price should not exceed 3-4x your annual household income. Monthly mortgage EMI should be under 30% of your gross monthly income.
Should I choose fixed or floating rate?
Fixed rates offer payment certainty but are typically 1-2% higher. Floating rates are lower but can increase. If rates are historically high, choose floating (likely to decrease). If historically low, consider fixed.