Home Loan EMI Calculator
Enter the amount you are borrowing after your deposit, the mortgage rate and the term. The calculator shows the monthly principal-and-interest payment, the lifetime interest cost and the total repaid.
Your loan details
Your result
Monthly payment
$2,160.66
for 25 yr (300 payments)
- Total interest
- $328,199
- Total repayment
- $648,199
Borrowing $320,000 at 6.5% over 25 years costs $2,160.66 a month. You repay $648,199 in total, of which $328,199 is interest — about 51% of everything you pay.
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Worked example
Suppose you borrow $320,000 at 6.5% a year over 25 years (300 monthly payments).
- Monthly payment$2,160.66
- Total repayment$648,199
- Total interest$328,199
Property tax, building insurance and any service charges sit on top of this figure.
How the numbers are calculated
The monthly payment uses the standard amortization (EMI) formula, which spreads the loan and its interest evenly so every payment is identical:
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
- P — the amount borrowed.
- r — the monthly rate, i.e. the annual rate divided by 12 and by 100.
- n — the number of monthly payments (years × 12).
Total repayment is simply the monthly payment multiplied by the number of payments, and total interest is that total minus the amount you borrowed. Interest is charged on the balance still outstanding, so early payments are mostly interest and later ones are mostly principal.
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Disclaimer: This calculator provides general estimates for information only and is not financial advice. Actual payments depend on your lender's fees, rounding, payment dates and any rate changes. Confirm figures with your lender or a qualified adviser before making a borrowing decision.