How are home loans calculated?

  1. How are home loans calculated?
  2. How much home loan I can get if my salary is 20000?
  3. What is the EMI for 10 lakhs home loan for 10 years?

How are home loans calculated?

Equation for mortgage paymentsM = the total monthly mortgage payment.P = the principal loan amount.r = your monthly interest rate. Lenders provide you an annual rate so you’ll need to divide that figure by 12 to get the monthly rate. … n = number of payments over the loan’s lifetime.

How much home loan I can get if my salary is 20000?

Salary Income per MonthSalary Income per MonthSBI Home Loan EligibilityLIC Home Loan Eligibility20000120000011000002500014000001200000300001700000150000035000200000018000002 more rows

What is the EMI for 10 lakhs home loan for 10 years?

Check EMI Calculation for 10 Lakh home loan for 5, 10, 15, 20 Years or How much EMI you have to pay for 10 Lakh home loan amount per month …EMI Calculation for 10 Lakh Home Loan amount for Various Tenure Options Tenure OptionsEMI Per Month10 YearsRs.1213015 YearsRs.956020 YearsRs.836025 YearsRs.77202 more rows