Knowledge Base

Mortgage Calculator

EMI = P × r × (1+r)^n / ((1+r)^n − 1)

Mortgage = Loan against property (LAP). Lower rate (8-10%) than personal loan since it's secured.

LTV ratio: Banks fund 60-70% of property's market value. You need 30-40% as margin.

Can be used for business expansion, education, medical — flexible end-use compared to home loan.

Tenure up to 15-20 years. Longer than personal loan but shorter than home loan.

Both residential and commercial property can be mortgaged.

Pro Tip

Mortgage rates are higher than home loan rates. If buying a house, always opt for a home loan, not LAP.

Mortgage Calculator - Complete Guide

Everything you need to know about Mortgage Calculator and how to optimize your financial strategy.

Understanding the Formula

The core calculation is based on:

EMI = P × r × (1+r)^n / ((1+r)^n − 1)

Key Concepts & Rules

Mortgage = Loan against property (LAP). Lower rate (8-10%) than personal loan since it's secured.

LTV ratio: Banks fund 60-70% of property's market value. You need 30-40% as margin.

Can be used for business expansion, education, medical — flexible end-use compared to home loan.

Tenure up to 15-20 years. Longer than personal loan but shorter than home loan.

Both residential and commercial property can be mortgaged.

Expert Strategy

Mortgage rates are higher than home loan rates. If buying a house, always opt for a home loan, not LAP.

How to use this Calculator?

1. Enter your specific values in the input fields above.
2. The calculator will render instant results as you type.
3. Check the breakdown table for year-by-year projections.
4. Adjust the inputs to see how different scenarios impact the final result.