Mortgage calculator

Find your monthly mortgage payment and total interest — works in dollars, pounds, euros, or rupees.

Last reviewed: August 2026 · Figures are estimates for general planning only — see the explanation below for this calculator's specific assumptions.

Loan amount: $300,000 (44%)Interest: $382,633 (56%)

if you borrow $300,000 at 6.5% for 30 years, your monthly payment works out to about $1,896 — $382,633 in total interest over the life of the loan. See the same calculation using EMI terminology and Indian Rupees

Same math as an EMI calculator, different name

"Mortgage" and "EMI" describe the same thing — a loan repaid through fixed monthly instalments that cover both interest and principal — just different regional terms for it. The calculation itself doesn’t depend on which country you’re in, so this uses exactly the same amortization formula, with a 30-year term as the default since that’s the most common mortgage length in the US and UK.

This does not convert between currencies

Choosing a currency only changes how the numbers are displayed — the symbol and digit grouping — not the numbers themselves. There is no exchange rate applied.

What this leaves out

This doesn’t include property taxes, homeowners insurance, private mortgage insurance, or HOA fees — all of which vary hugely by location and are usually added on top of the loan payment itself in a real monthly housing budget. This calculates the loan payment only.

Frequently asked questions

Is this the same as an EMI calculator?

Yes, mathematically — "EMI" (equated monthly instalment) is the term used in India and South Asia for exactly what English-speaking countries elsewhere call a mortgage or loan payment. Same formula, same result, just different regional names for the same thing.

Does this include property taxes and insurance?

No — this calculates only the loan payment itself (principal and interest). Property taxes, homeowners insurance, private mortgage insurance, and HOA fees are usually added on top in a real monthly housing budget, and they vary too much by location for a single calculator to estimate accurately.

Does this convert between currencies?

No — selecting a currency only changes the displayed symbol and digit grouping, not the underlying numbers. There is no exchange rate applied.

Common questions answered

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