Mortgage Calculator
Calculate payments, interest, and payoff timelines with industrial precision.
Amortization Schedule
Technical FAQ
What is PMI?
How does the loan term affect my interest?
Can I include HOA fees?
The True Cost of Financing a House
The costs beyond the sticker price
The monthly installment is one line in a longer bill. Budgeting only for it is how house purchases go wrong:
| Cost | Rough scale | When |
|---|---|---|
| Down payment | 15–30% of property value | Upfront |
| Processing and valuation fees | 0.5–1.5% of loan | Upfront |
| Stamp duty and registration | Varies by province | At transfer |
| Property insurance | Annual, often mandatory | Recurring |
| Total markup over 20 years | Can approach the principal itself | The long game |
The two levers you control
Down payment: every extra lakh down is a lakh that never accrues two decades of markup — the highest-return “investment” most buyers have available. Tenure: stretching 15 years to 25 drops the monthly payment but can add half again to total interest; run both and look at the totals, not the installments. A useful stress-test before committing: if rates rose 3 points (variable-rate loans track the policy rate), would the payment still fit your income?
Running the scenarios
Model rent-vs-buy honestly: rent saved minus markup, fees and maintenance, over your realistic stay. Islamic home finance (Diminishing Musharakah) computes identically — enter the quoted profit rate. The month-by-month picture lives in the amortization schedule, general loan comparisons in the EMI calculator, and affordability ratios in the percentage calculator.