Make Better Financial Decisions with a Home Loan Calculator - Loan Trivia


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Wednesday 28 September 2022

Make Better Financial Decisions with a Home Loan Calculator

Home Loan Calculator

 A home loan is a long term obligation, and it becomes a must to plan your finances well. 

Nowadays, you can easily do that without indulging in any manual calculation. It is because you can use online home loan calculators beforehand. 

Read on and know more!

Know your eligible amount using a home loan eligibility calculator 

One of the major home loan calculator you can use is the home loan eligibility calculator. Using it helps you know a loan amount that your income can support.

  1. Open the home loan eligibility calculator on your lender’s site and enter basic details like your date of birth, city, monthly income and obligations/debts. 

  2. Once done, the online housing loan eligibility calculator will showcase an amount you will be eligible for. 

  3. You can click on the ‘Apply Now’ button and get approval for the same amount. 

Know your exact payable EMI amount using a home loan EMI calculator 

Another vital home loan calculator to use online is a home loan EMI calculator. Using the same, you can know the exact amount that you need to pay over a tenor. 

  1. Open the home loan calculator for EMI on the website of your preferred lender. 

  2. Enter or choose your desired housing loan amount, an applicable interest rate and the repayment tenor. 

  3. Once done, the online home loan EMI calculator will display an exact figure you will pay as the EMI over a tenor. 

Not only the EMI amount, but you will also be able to know about your precisely payable home loan interest charges and the loan cost (interest + principal).        

Being aware of an EMI amount and the eligible loan amount using the home loan calculator, you can be sure of taking a well-informed financial decision. 

Both these home loan calculators are available for free and accessible 24x7 to help you begin planning for your home loan even in the dead of night.   

Also Read: 5 Smart Tips to Get a Low Home Loan Interest Rate

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