The Home Loan Calculator helps you estimate your monthly mortgage payments and total loan costs. Simply input your loan amount, interest rate, and tenure to get an instant overview of your financial commitment before securing your home loan.
You will pay $11,593,423 in interest (which is 115.93% of the loan amount) on taking a loan of $10,000,000 for 20 years. The loan will get paid off by Jul, 2044
| Year | Total Payment (Principal + Interest) | Principal | Interest | Remaining Balance |
|---|---|---|---|---|
| 2024 | $449,863 | $75,994 | $373,869 | $9,924,006 |
| 2025 | $1,079,671 | $194,400 | $885,271 | $9,729,606 |
| 2026 | $1,079,671 | $212,636 | $867,035 | $9,516,970 |
| 2027 | $1,079,671 | $232,583 | $847,089 | $9,284,387 |
| 2028 | $1,079,671 | $254,400 | $825,271 | $9,029,987 |
| 2029 | $1,079,671 | $278,265 | $801,406 | $8,751,722 |
| 2030 | $1,079,671 | $304,368 | $775,303 | $8,447,354 |
| 2031 | $1,079,671 | $332,920 | $746,751 | $8,114,434 |
| 2032 | $1,079,671 | $364,150 | $715,521 | $7,750,284 |
| 2033 | $1,079,671 | $398,310 | $681,361 | $7,351,974 |
| 2034 | $1,079,671 | $435,674 | $643,997 | $6,916,300 |
| 2035 | $1,079,671 | $476,543 | $603,128 | $6,439,756 |
| 2036 | $1,079,671 | $521,246 | $558,425 | $5,918,510 |
| 2037 | $1,079,671 | $570,143 | $509,528 | $5,348,367 |
| 2038 | $1,079,671 | $623,626 | $456,045 | $4,724,741 |
| 2039 | $1,079,671 | $682,127 | $397,544 | $4,042,614 |
| 2040 | $1,079,671 | $746,115 | $333,556 | $3,296,499 |
| 2041 | $1,079,671 | $816,106 | $263,565 | $2,480,393 |
| 2042 | $1,079,671 | $892,662 | $187,009 | $1,587,731 |
| 2043 | $1,079,671 | $976,400 | $103,271 | $611,331 |
| 2044 | $629,808 | $611,331 | $18,477 | $0 |
Are you planning to buy your dream home? Our Home Loan Calculator is designed to help you understand your financial obligations before you apply for a mortgage. Whether you're purchasing a new property or refinancing your current mortgage, this tool provides you with a clear picture of your monthly payments and total loan costs.
The Home Loan Calculator uses a straightforward formula to compute your Equated Monthly Installment (EMI):
The formula is:
EMI = (P × r × (1 + r)n) / ((1 + r)n - 1)
Where:
Input your loan amount, interest rate, and repayment term to see your estimated monthly EMI and total interest payable over the loan period.
Ready to find out how much your dream home will cost you each month? Use our Home Loan Calculator to get started. It’s an easy and efficient way to ensure your home loan fits your budget perfectly. Calculate your EMI now and step closer to owning your dream home!