Calculate home loan EMI, total interest, and total payment. Free online home loan calculator with formula, examples, and FAQ.
A home loan is a secured loan used to purchase residential property. The home loan calculator computes your Equated Monthly Installment (EMI) based on the loan amount, interest rate, and tenure. It also shows the total interest cost and the ratio of interest to principal, helping you understand the true cost of borrowing and plan your finances accordingly.
EMI = P × [r(1+r)^n] / [(1+r)^n - 1]Where P is the loan amount, r is the monthly interest rate (annual rate / 12 / 100), and n is the total number of monthly installments (tenure × 12). Each EMI payment consists of two components: principal repayment and interest. In the early years, a larger portion goes toward interest; over time, more goes toward principal.
| Input | Output |
|---|---|
| Loan: $250,000, Rate: 7.5%, 20 years | EMI: $2,017.43, Total Interest: $234,183.67 |
| Loan: $400,000, Rate: 8%, 25 years | EMI: $3,085.86, Total Interest: $525,756.74 |
| Loan: $150,000, Rate: 6.5%, 15 years | EMI: $1,306.93, Total Interest: $85,247.20 |