What is the advantage of knowing the EMI in advance?
Knowing the EMI in advance helps you to plan out your repayment in a better way. Since you are aware of how much you will be approximately paying each month, you can budget your monthly finances accordingly. The knowledge of how much EMI each type of loan will incur also helps you to choose the home loan most suitable for you. Therefore, if you are planning to buy a home loan, it is very beneficial to use a housing loan EMI calculator.
- What kind of information does the housing loan EMI calculator require to compute the EMI?
- What kind of collateral does a home loan require?
- Is buying a home insurance plan necessary for a home loan application approval?
- Does one need to upload any documents to use the housing loan EMI calculator?
- What is meant by a home loan amortization schedule?