Home Loan Calculator – AllLoanCalculator.com

Home Loan Calculator

Calculate your monthly home loan payments and plan your dream home purchase

$200,000
7%
10 Years
Your Home Loan Calculation Results

Monthly EMI

$0

Principal Amount

$0

Total Interest

$0

Total Payment

$0

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Home Loan Calculator Guide

Buying a home is one of the biggest financial decisions you will ever make. To help you plan your purchase, our Home Loan Calculator makes it easy to estimate your monthly payments, interest costs and loan schedule. Whether you are buying a flat, villa or house, this tool gives you a clear idea of affordability before applying for a loan.

How Use Home Loan Calculator by All Loan Calculators

Hello. This guide will show you how to use our Home Loan Calculator. It is very easy. You just type a few numbers. The calculator does all the hard math for you. You will know your monthly payment in less than a minute.

Step 1: Find the Calculator

First, go to the All Loan Calculator website. On the main page, you will see a list of tools. Find the one that says “Home Loan Calculator”. Click on it to open the tool.

Step 2: Type the Home Price

Look for the first box. It says “Home Price”. In this box, type the full price of the house you want to buy. For example, if the house costs $350,000, you type 350000.

Step 3: Type Your Down Payment

Find the box that says “Down Payment”. Here, you type the amount of money you will pay from your savings right now. For example, if you have $70,000 saved, you type 70000.

Step 4: Choose the Loan Term

Find the box for “Loan Term”. This is how many years you will take to pay back the loan. Most people choose 30 years. You can type 30 in the box.

Step 5: Type the Interest Rate

Find the box that says “Interest Rate”. Your bank will tell you this number. It is a percentage. If your bank says the rate is 7%, you type 7 in the box.

Step 6: Click the Calculate Button

Now, find the “Calculate” button. It is usually a big button. Click on it one time.

See Your Results

Right away, you will see your results. The page will show you:

  • Your Monthly Payment: This is the amount you must pay every month. For a $350,000 home with a $70,000 down payment at 7% for 30 years, your payment would be about $1,864.
  • Total Interest Paid: This is the extra money you pay the bank for the loan. In this example, you would pay about $360,000 in interest over 30 years.

This means your $350,000 house will actually cost you over $710,000.

Now you know exactly what to expect. You can change the numbers and calculate again to see how a bigger down payment or a lower rate changes your payment. Use the Home Loan Calculator on All Loan Calculator today. It is free and easy. Plan your dream home with confidence.

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