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Mortgage Calculator

Estimate your monthly mortgage payment on a property purchase or Loan Against Property, including down payment and total interest over the loan term.

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Mortgage Calculator
Property price with down payment — full cost breakdown & monthly payment
20%
Minimum down payment: 10–20% required by most lenders in India (LTV ratio 80–90%)
Enter values and click Calculate

Disclaimer. This calculator is provided for educational and informational purposes only. Results are estimations and do not constitute professional financial, investment, tax, or legal advice. Consult a qualified advisor before making financial decisions. Read full disclaimer →

About Mortgage Calculator

A mortgage is a loan secured against property. This calculator computes monthly mortgage payments, total interest payable, and generates an amortisation schedule showing how each payment splits between principal and interest. In early years, the majority of each EMI is interest; over time, the principal portion grows as the outstanding balance decreases.

Loan Against Property (LAP) in India: banks and NBFCs offer LAP at 9-13% interest for residential and commercial properties. Maximum LTV: 60-70% of property value (lower than home loans since LAP purpose is typically business or personal needs). Processing fees: 0.5-1.5%. Prepayment: no penalty for floating rate LAP. Key use cases: business expansion, working capital, education, wedding. Unlike home loans, LAP interest is not tax-deductible under Section 24(b) unless used for business purposes (then deductible as business expense). Maintain property insurance and ensure title is clear before applying - lenders conduct independent valuation and legal due diligence.

Frequently Asked Questions

This mortgage calculator is built around Loan Against Property (LAP) style borrowing where you specify a down payment percentage against the property price. It works equally well for standard home-purchase mortgages.
LAP typically offers 60–70% of property value, lower than home loans, since LAP is usually for business or personal needs rather than the property purchase itself.
Unlike home loans, LAP interest is not deductible under Section 24(b) unless the loan proceeds are used for business purposes, in which case it may be deductible as a business expense.
Floating-rate loans (the majority in India) typically carry no prepayment penalty for individual borrowers, per RBI guidelines. Fixed-rate loans may have charges — check your loan agreement.
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Related: Home Loan Calculator · Amortization Schedule · Refinance Calculator