Mortgage Calculator
Result
Mortgage Calculator — free online calculator.
Formula
- Use loan principal, annual rate, term, and optional extra monthly principal payment. The base EMI is shown separately from the actual total paid and interest under accelerated repayment.
- The main inputs are Loan Amount, Annual Interest Rate, Loan Term, Extra Monthly Payment. Enter them in the units and format shown in the calculator.
- Use monetary amounts, rates and time periods exactly as labeled; the result reflects the assumptions entered on this page.
- Changing any input above recalculates the result with the same calculation engine used by this page.
Example: Mortgage
- Loan Amount: 5000000 PKR
- Annual Interest Rate: 22
- Loan Term: 20
- Extra Monthly Payment: 0 PKR
For a 300,000 home with a 60,000 down payment, 6% annual interest and a 30-year term, the 240,000 mortgage has a monthly principal-and-interest payment of about 1,438.92.
Sample result: Calculating…
Frequently asked questions
What does the Mortgage calculate?
Mortgage Calculator — free online calculator.
Which values should I enter?
Enter Loan Amount, Annual Interest Rate, Loan Term, Extra Monthly Payment using the units and format shown beside each field.
What formula does this calculator use?
The calculator uses the following relationship: EMI = P × [r(1+r)^N]/[(1+r)^N-1], r=APR/1200, N=12×years; with extra payment, amortize monthly until paid..
Why might my result differ from another source?
Results can differ when another source uses different units, rounding rules, conventions or assumptions. Compare the inputs and definitions before comparing results.
Does the result update automatically?
Yes. Changing an input updates the result using the same calculation engine shown on this page.