Basic Calculations To Do Before Applying For A Home Loan - Loan Trivia


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Friday 6 May 2016

Basic Calculations To Do Before Applying For A Home Loan

It’s always advisable to check your pocket before applying for a Home Loan. We all have great desire to buy our personal home and that’s too in one of the metro cities. It is only so because we are always fascinated by the life culture of the metro cities. 
Must Read: Know These 5 Golden Rules To Follow When Taking Personal Loan

But with the recent inflation in the land and property prices buying a home from own pocket seems impossible. So that the land and property prices have risen, shall we give up our long preserved dream?

The alternate option which we have is opting for Home Loans. Home Loans. Whether you are applying for home loan in Delhi, Mumbai or Bangalore, getting a home loan has become very easy. But before applying for a home loan you must do the below mentioned basic calculations.

  1. Calculate your Debt-to-income ratio.
  2. Give up on few luxuries to check your savings.
  3. Have a trial round of EMI for 2-3 months, factoring in all your expenses and investments.

After having done with these calculations, check whether you can manage all these extra payments without creating more debt, then you can afford home loan for purchasing your dream home. Read this reference post to check for home loan calculation.


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