Home Loan Calculator

Calculate home-loan payments, interest and repayment. Enter the loan amount, annual interest rate and loan term to estimate your monthly payment and total borrowing cost.

The amount borrowed for the home loan.

%

Annual interest rate charged on the home loan.

years

The number of years used to repay the home loan.

Home Loan Formula

Monthly Payment = P × [r(1 + r)ⁿ] ÷ [(1 + r)ⁿ − 1] Where: P = Loan amount r = Monthly interest rate = Annual rate ÷ 12 ÷ 100 n = Total number of monthly payments = Loan term × 12 Total Repayment = Monthly Payment × n Total Interest = Total Repayment − Loan Amount If the interest rate is 0%: Monthly Payment = Loan Amount ÷ n

This calculator estimates principal and interest for a standard amortizing home loan. Property taxes, insurance, fees, registration costs and other home-ownership expenses are not included.

How to Use the Home Loan Calculator

1

Enter the Loan Amount

Enter the amount you plan to borrow for the home purchase.

2

Enter the Interest Rate

Enter the annual interest rate applicable to the home loan.

3

Enter the Loan Term

Enter the number of years over which the loan will be repaid.

4

Calculate Your Home Loan

The calculator displays the estimated monthly payment, total interest and total repayment.

Example Home Loan Calculation

5,000,000 loan at 8.5% for 20 years

Given:

  • Loan Amount = 5,000,000
  • Annual Interest Rate = 8.5%
  • Loan Term = 20 years

Monthly rate:

8.5% ÷ 12 = 0.708333% per month

Total payments:

20 × 12 = 240 monthly payments

Result: Monthly Payment ≈ 43,391.21

Total Repayment ≈ 10,413,890.40.

Total Interest ≈ 5,413,890.40.

Understanding Your Home Loan Results

Monthly Payment

The estimated regular payment toward the principal and interest on the home loan.

Total Interest

The estimated interest paid over the full loan term, excluding additional costs.

Total Repayment

The combined principal and interest paid across all scheduled monthly payments.

Important Consideration

Actual home-loan costs can include fees, taxes, insurance, prepayments, rate changes and other lender or property charges.

Key Home Loan Terms

Principal

The original amount borrowed to finance the home purchase.

Interest Rate

The annual rate charged on the outstanding home-loan balance.

Loan Term

The period over which the home loan is scheduled to be repaid.

Monthly Payment

The regular principal-and-interest payment calculated for the selected term.

Total Interest

The total interest accumulated over all scheduled payments.

Amortization

The process of gradually repaying the loan through scheduled payments.

Frequently Asked Questions

A home loan calculator estimates monthly payments, total interest and total repayment for a home loan using the amount borrowed, interest rate and loan term.
The calculator uses the standard amortizing-loan formula with the principal, monthly interest rate and total number of monthly payments.
Generally, yes. A longer term spreads repayment across more months, which usually lowers the monthly payment but increases total interest.
No. The basic calculation covers principal and interest only. Property taxes, insurance, fees and other home-ownership costs are excluded.
Yes. At 0% interest, the loan amount is divided evenly across the total number of monthly payments.
No. It is an estimate based on the entered values. Actual lender terms, fees, rates and payment schedules may differ.

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