Approaching and planning a home loan in advance is no more a difficult task. It is because you can get to know about your eligible amount and the payable EMIs.
You can easily arrive at these figures using the home loan calculator.
Yes, a home loan calculator to calculate EMIs and eligibility is available on a reputed lenders’ website.
Read on and know about the steps to calculate your EMIs and the home loan eligibility!
Steps to calculate your home loan eligibility
- Land on the website of a lender and open the home loan calculator for eligibility.
- Once done, enter your date of birth and city of residence. You also have to feed your monthly Salary, existing debts and the repayment tenor. If you have a second income, you also have to mention it or else leave it blank.
- Now, hit the ‘Check Your Eligibility’ button, and the home loan eligibility calculator will showcase your loan eligible value.
Steps to calculate your home loan EMIs
- Open the home loan EMI calculator on a lender’s website.
- Choose/enter your desired housing loan amount, applicable interest rate and the repayment tenor.
- Once done, the home loan EMI calculator will display the precise loan EMI amount and the interest charges. The entire loan cost will also be displayed.
You are now aware of the ways you can calculate the EMIs, and know your eligible amount.
Using the same, you can know about your home loan EMI amount and the eligible figure.
Read Also: BFL Home Loan Calculator: Calculate EMI and Eligibility
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