Home Loan EMI: How much home loan should be taken to buy a house, know how much should be the monthly EMI according to the salary..

Loan EMI Rules: You can fulfill your dream of having your own home through a home loan. Home loans should be taken after careful consideration, its interest rates, EMI and other charges should be considered in the beginning, so that all this can easily fit into your budget. Taking a loan without thinking can cost you heavily later.

If you miss the EMI and are unable to repay the loan, you may also lose your property (property knowledge). Therefore, after assessing the entire budget, you should also consider the EMI of the home loan.

First of all, do this work-

Before taking a home loan, consider the down payment (down payment rules for homes). The more you pay, the less will be the burden of EMI. Raise as much money as you can for the house you are going to buy. Initially, you can make a down payment of 20 percent of the price of the house. You will also have to pay the amount from this for the registry (property registry) and other expenses. Apart from this, you can take 80 percent of the amount as a home loan.

Do look at the role of CIBIL score-

You can take a cheap loan at low interest rates based on a good CIBIL score. For a good credit score, the credit history should also be good. Try to take a loan at the lowest interest rates, for this, you can also try for a loan in other banks, and take a loan from where you get the loan at the lowest interest rate (home loan interest rates).

Selection of loan tenure-

Before taking a loan, assess how long you want the loan tenure (home loan tenure). It depends on your salary, income, and financial situation. The longer the loan tenure, the lesser will be the amount of EMI (loan EMI repayment rules). Also, see for what purpose you are buying the house. By the way, buying a house to live in is a long-term decision.

If you take a loan for 30 years after considering all this, then a large part of your life will be spent repaying it. Therefore, before buying a house, look at your responsibilities and decide whether you should buy a house and a loan (loan news) or not.

Calculate your salary completely-

You can consider the home loan EMI (home loan EMI kitni ho) according to your salary. Generally, the home loan EMI should be 25 percent of the salary. If the salary is Rs 1 lakh, then it is fine if the EMI is only 25 thousand (home loan EMI calculation).

Because you have to look after the rest of the expenses as well. From the same salary, you have to save for household expenses, the future and old age. You also have to pay for the expenses of children's education and marriage. When an emergency comes, money may be needed for this too, so you have to save this money also from the salary (salary and home loan calculation).

Do the calculation in this way-

First of all, you have to see the price of the house (property rates), and how much it is. Then you will also have to decide how much down payment you can make for this (down payment rules for home). If the monthly EMI is not more than 25 percent of the salary, then your decision to buy a house (home buying tips) can prove to be right. If this calculation is going wrong, then it will be better for you to wait for a few years and then buy a house.

This much will be the home loan amount-

If you take a salary of Rs 1 lakh every month (home loan on salary), then you can pay 25 percent of your salary or one-fourth of the salary i.e. Rs 25,000 every month as EMI (home loan EMI). This will give you a home loan of about Rs 70 lakh for 20 years. By making some down payment, you can buy a normal-sized house for yourself.

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