Mortgage Payment Calculator
Mortgage Payment Calculator is a financial calculator that helps you calculate loan or mortgage payment amounts and total repayment cost. The formula used is: EMI = P × r × (1+r)^n / ((1+r)^n − 1)\nWith extra payment: new_n = −log(1 − P×r/(EMI+extra)) / log(1+r). Enter monetary values in your local currency. Enter interest rates as plain numbers (e.g. enter 5 for 5 %).
Formula
EMI = P × r × (1+r)^n / ((1+r)^n − 1)
With extra payment: new_n = −log(1 − P×r/(EMI+extra)) / log(1+r)
Example Calculation
Inputs
- Loan Amount (PKR): 5000000 PKR
- Annual Interest Rate: 22 %
- Loan Term: 20 years
- Extra Monthly Payment (PKR): 0 PKR
Suppose you enter: Loan Amount (PKR) = 5000000, Annual Interest Rate = 22, Loan Term = 20, Extra Monthly Payment (PKR) = 0. The calculator applies the formula (EMI = P × r × (1+r)^n / ((1+r)^n − 1)\nWith extra payment: new_n = −log(1 − P×r/(EMI+extra)) / log(1+r)) and shows all output values below. Change any input field to immediately see how the result changes.
Frequently asked questions
What is the Mortgage Payment?
The Mortgage Payment Calculator is a financial calculator that helps you calculate loan or mortgage payment amounts and total repayment cost. Enter monetary values in your local currency. Enter interest rates as plain numbers (e.g. enter 5 for 5 %).
When should I use this calculator?
Use this calculator whenever you need a quick, accurate result for loan or mortgage payment amounts and total repayment cost without working through the arithmetic manually.
What units should I enter?
Enter monetary values in your local currency. Enter interest rates as plain numbers (e.g. enter 5 for 5 %).
How accurate are the results?
Assumes constant rates, no additional fees, and no tax unless stated. Actual outcomes vary with market conditions.
How do I interpret the result?
Compare against your financial goals or market benchmarks. A higher figure may mean greater cost or greater return depending on context.
How can I verify the calculation manually?
Use the displayed formula and work through the numbers step by step. If your manual result differs slightly, check rounding and unit conversions first.
Can I use this for planning and budgeting?
Yes. Run best-case, expected, and worst-case inputs to compare outcomes and make safer planning decisions.