🏠 Home Loan Calculator
Calculate your home loan EMI instantly using sliders or input fields and track your repayment with a detailed amortization schedule.
Loan Repayment Summary
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📘 Your Amortization Details
| Month | Principal Paid | Interest Paid | Total Payment | Remaining Balance |
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About the Home Loan Calculator
Our Home Loan Calculator is a simple yet powerful tool that helps you estimate your monthly EMI (Equated Monthly Installment), total interest payable, and the total repayment amount for your home loan. Whether you're buying a new house, apartment, or planning to build one, this calculator gives you a clear picture of your financial commitment and helps you make informed decisions.
🔢 How the EMI is Calculated
The EMI is calculated using a standard formula used across the financial industry:
EMI = [P x R x (1 + R)N] / [(1 + R)N - 1]
Where:
P = Loan amount (Principal)
R = Monthly interest rate = Annual Rate ÷ 12 ÷ 100
N = Loan tenure in months
This formula ensures consistent monthly payments throughout your loan period, while the proportion of interest and principal changes with each installment.
📊 Amortization Schedule
The calculator generates a detailed Amortization Schedule showing how each EMI is split between interest and principal. It also shows your outstanding loan balance after every payment, helping you track progress and plan your finances better.
💡 Why Use This Tool?
- Get accurate monthly EMI estimates for your home loan
- Compare loan options by varying the loan amount, interest rate, and tenure
- Understand the total repayment amount including interest
- Visualize your amortization schedule to plan prepayments or early closure
- Make confident, well-informed decisions while purchasing your dream home
