Calculate your exact monthly mortgage payment, total interest paid, and full amortisation schedule in seconds.
| Year | Opening Balance | Principal Paid | Interest Paid | Closing Balance | Equity % |
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EMI stands for Equated Monthly Instalment — the fixed monthly amount you pay to repay a loan. It includes both principal and interest. For mortgages in the USA/UK this is simply called a mortgage payment.
Yes. Enter your monthly property tax, home insurance, and PMI in the "Add-ons" section. The PITI figure (Principal, Interest, Tax, Insurance) is shown separately so you can see the full monthly cost.
It shows exactly how each payment is split between principal and interest over the life of the loan. In the early years, most of your payment goes to interest. As time passes, more goes toward paying down the principal.
You can lower your EMI by increasing the loan term, making a larger down payment (reducing the loan amount), or securing a lower interest rate by improving your credit score or shopping lenders.