# Mortgage Payment Calculator

### Mortgage Loan EMI Calculator :

Our simple mortgage calculator estimates monthly mortgage payment with taxes. To calculate mortgage payoff you need to know the loan amount, annual interest rate, and loan period. Our online EMI calculator provides you the total number of mortgage payments, monthly EMI payments as a result.

### What is the mortgage?

The mortgage is a loan given by the bank to the borrower to buy a home. It is a secured loan because of the borrower and bank agree that if the borrower default the loan then bank will have all the rights to occasion the property to recover the loan amount. Monthly mortgage payment includes principal and interest amount for life of the loan with fixed mortgage rates.

How to calculate mortgage loan EMI?

You can calculate EMI of a mortgage loan by a traditional way using the EMI calculator formula. In this method you sometimes you will get suffer to solve mathematical calculations.

**EMI calculation formula :**

EMI = [P x R x (1+R) ^N] / [(1+R) ^N-1]

To overcome from issues of traditional method our mortgage repayment calculator provides you an easy solution for mortgage loan EMI monthly payments calculation. Here you need to provide appropriate entries.

How to use a mortgage payment calculator?

To use our application you need to follow below steps.

Step1:

Open Mortgage payment calculator.

Step2:

Enter the principal loan amount, interest rate, and loan time.

Step3:

Click on calculate to get the number of mortgage payments, monthly EMI payment.