| Original Loan Amount |
₹2,24,000 |
| Down Payment |
4.46 % |
| Intrest |
5.5 % |
| Term |
30 Years |
| Loan After Down Payment |
₹2,14,000 |
| Down Payment Amount |
₹10,000 |
| Monthly Payment |
₹1215.07 |
| Total Payment |
360 |
Since Principal and Interest are not the only factors of a loan we should include an estimate for other costs involved with a loan.
- Your down payment was less than 20% of the loan, which means you will be paying PMI. This averages around ₹55.00 for every ₹100,000.00 borrowed. An estimate for PMI will be around ₹117.70 per month.
- An average tax figure for your purchase might be about ₹10.00 for every ₹1,000.00 assessed value per year. If the assessed value of your home is 85%, this would make your home's assessed value ₹190,400.00 and your monthly tax around ₹158.67
- Homeowners Insurance is another factor of a loan. An average estimate of your monthly insurance could be about ₹56.00
With these factors, your total monthly payment estimate would be around ₹1,547.44
Amortization Schedule (P & I)
| Payment |
Payment Amt |
Principal |
Intrest |
Total Intrest |
Balance |
| 1 |
₹ 1215.07 |
₹ 234.24 |
₹ 980.83 |
₹ 980.83 |
₹ 2,13,765.76 |
| 2 |
₹ 1215.07 |
₹ 235.51 |
₹ 979.76 |
₹ 1960.59 |
₹ 2,13,530.46 |
| 3 |
₹ 1215.07 |
₹ 236.39 |
₹ 978.68 |
₹ 2939.27 |
₹ 2,13,294.07 |
| 4 |
₹ 1215.07 |
₹ 237.47 |
₹ 977.60 |
₹ 3916.87 |
₹ 2,13,056.60 |
| 5 |
₹ 1215.07 |
₹ 238.56 |
₹ 976.51 |
₹ 4893.38 |
₹ 2,12,818.04 |
| 6 |
₹ 1215.07 |
₹ 239.65 |
₹ 975.42 |
₹ 5868.80 |
₹ 2,12,578.39 |
| 7 |
₹ 1215.07 |
₹ 240.75 |
₹ 974.32 |
₹ 6843.12 |
₹ 2,12,337.64 |
| 8 |
₹ 1215.07 |
₹ 241.85 |
₹ 973.21 |
₹ 7816.33 |
₹ 2,12,095.78 |
| 9 |
₹ 1215.07 |
₹ 242.96 |
₹ 972.11 |
₹ 8788.44 |
₹ 2,11,853.82 |
| 10 |
₹ 1215.07 |
₹ 244.08 |
₹ 970.99 |
₹ 9759.43 |
₹ 2,11,608.74 |
