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Monthly mortgage payment with tax and insurance.
A mortgage calculator estimates the full monthly cost of owning a home, not just the loan repayment. It adds property tax and home insurance to the principal-and-interest instalment so you see the real amount leaving your account each month.
This all-in view is useful when budgeting, because taxes and insurance can add a meaningful sum on top of the loan EMI.
P&I uses the standard EMI formula: L × i × (1+i)^n / ((1+i)^n − 1), with L = price − down payment, i = annual rate ÷ 12 ÷ 100, n = term in months.
The principal-and-interest EMI plus one-twelfth of the yearly property tax and one-twelfth of the yearly home insurance.
It is taken as a percentage of the home price per year. That annual amount is divided by 12 and added to each monthly payment.
Because this tool bundles taxes and insurance into the monthly figure, whereas a basic EMI calculator shows only principal and interest.
Yes. Set them to zero to see only the principal-and-interest payment.