Down payment calculator

The EMI comes from the standard amortisation formula banks quote: loan times the monthly rate over one minus that rate's negative power of the months. Savings earn interest monthly, with each month's deposit added at the end of the month, and the timeline counts whole months. What it does not do: variable or teaser rates, mortgage insurance, property tax, escrow, fees folded into the loan, or payment dates. Other upfront costs count toward the savings goal but not toward the loan, which matches how closing costs usually behave.