Spending a life where there will be no interference of landlord is a dream of every tenant. This common dream of many has come true with the aid of home loans. Blog: https://amritaagarwal.livejournal.com/9577.html Apply for loan: https://financebuddha.com/home-loan Facebook :https://www.facebook.com/financebuddha Twitter:https://twitter.com/financebuddha
How to Plan your Home Loan Installment Spending a life where there will be no interference of landlord is a dream of every tenant. This common dream of many has come true with the aid of home loans. Home loan is designed such a way that owning a home become possible for people of every economic status. A home loan can be as little as 6 lakhs or it can be as high as 1 crore or more. The feature of home loan which makes it affordable for everyone is the repayment process of the home loan. The repayment of a home loan is done through easy installments which are commonly known as EMIs. The EMI (equated monthly installment) are the equal division of the total outgo of the loan. The EMI of any loan depends on many factors such as a) Rate of interest b) Loan tenure c) Principal amount d) Monthly/annual resting period When any kind of loan is applied, the applicant gets a chance to choose the EMI amount. One must plan it considering the present economic condition and foreseeing the upcoming days. When we start paying home loan installment every month, we need to redefine our monthly budget. A big share of our monthly take-home income is paid in installments.