Hi, I wanted to know more about the Home Loan Process. And an Excel sheet of how to calculate the Home Loan with the following points.
1. Monthly EMIs - If I increase or Decrease, how soon can I close the loan with interest amount?
2. If I make partial payments, how many times can I make partial payments?
3. What is the best Advice on how to close the loan Faster?
For a loan amount of 50 L.
Regards
Reddy
From India, Hyderabad
1. Monthly EMIs - If I increase or Decrease, how soon can I close the loan with interest amount?
2. If I make partial payments, how many times can I make partial payments?
3. What is the best Advice on how to close the loan Faster?
For a loan amount of 50 L.
Regards
Reddy
From India, Hyderabad
Hi, Not sure whether you had already availed the home loan or planning to apply.
If your tenure of loan is more, then monthly EMI outgo will be less. If the tenure of the loan is less then EMI will be more.
To close the home loan faster you need to pay additional money on a monthly basis apart from regular EMI. When you go for long tenure home loan, you will be paying more interest amount. During initial period the interest amount will be more and principal adjustment will be less.
From India, Madras
942If your tenure of loan is more, then monthly EMI outgo will be less. If the tenure of the loan is less then EMI will be more.
To close the home loan faster you need to pay additional money on a monthly basis apart from regular EMI. When you go for long tenure home loan, you will be paying more interest amount. During initial period the interest amount will be more and principal adjustment will be less.
From India, Madras
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Home Loan Calculator.xls
Double Check Before Sharing A Home Loan.pdf