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Calculate monthly payment for a US mortgage, auto loan, or personal loan. Standard reducing-balance amortization with a full month-by-month schedule.
30-year fixed mortgage rates have hovered between 6.5% and 7.5% through 2024-25. 15-year fixed sits about 0.5% lower. Adjustable-rate mortgages (5/1, 7/1 ARMs) can start lower but reprice on schedule.
Because interest is computed on the outstanding balance, the first decade of a 30-year mortgage is mostly interest — you build very little equity. Bi-weekly payments or 15-year terms accelerate equity dramatically.
Property tax, homeowner's insurance, PMI (for sub-20% down), HOA fees, and points. Your actual PITI (principal + interest + taxes + insurance) is typically 25–40% higher than the bare EMI shown here.
30-year fixed mortgage rates in the US have ranged from about 6.5% to 7.5% through 2024-25. 15-year fixed rates are usually 50–75 basis points lower. ARMs (5/1, 7/1) can start lower but reprice after the initial fixed period. Your actual rate depends on credit score, down payment, debt-to-income, and loan size.
No — it shows only principal and interest. Your actual monthly housing payment (PITI: Principal, Interest, Taxes, Insurance) usually runs 25–40% higher than this calculator's EMI once property taxes (~1–2% of home value per year), homeowner's insurance, and PMI (if down payment is under 20%) are added.
Amortization is the schedule of how each monthly payment gets split between principal and interest over the loan's life. Early payments are mostly interest because interest is charged on a higher outstanding balance; later payments are mostly principal. The full amortization table is shown when you toggle 'Show schedule' below the result panel.
Trade-off. 15-year mortgages save enormous total interest (often half what a 30-year costs) and build equity fast, but the monthly payment is 30–50% higher. 30-year is more affordable monthly and leaves cash to invest. Pick based on cash flow comfort, not just the math.
No. It's an educational reducing-balance EMI calculator. For pre-approval and final pricing, use a lender's calculator (Rocket, Better, Quicken) or speak with a mortgage broker — they'll factor in your specific rate quote, points, and closing costs.
For information only — not financial, tax, or legal advice.
United States EMI math uses a standard reducing-balance amortization. Processing fees, prepayment penalties, insurance, and lender-specific adjustments are excluded. Always verify with an official source and a licensed professional before filing, borrowing, or transacting. Read the full disclaimer.
ExpenseFlow tracks every EMI, splits principal from interest, and reminds you before the next payment hits.
