If you are going to buy a house on a home loan, then definitely know this formula, monthly EMI will never seem like a burden.

If you are also planning to buy a house on a home loan, then let us tell you that you should buy a house according to your budget. If you buy an expensive house, your monthly EMI will be high, which can create problems for you in the future.

Everyone dreams of buying their own house but buying a house in today's time is not an easy thing. Nowadays property prices are skyrocketing. In such a situation, the dream of buying a house for common people remains a dream only. Many times people also buy a house on a home loan, but later paying the EMI of the home loan becomes a very difficult task for some people.

If you are also planning to buy a house on a home loan, then let us tell you that you should buy a house according to your budget. If you buy an expensive house, your monthly EMI will be high, which can create problems for you in the future. In such a situation, today we will tell you about such a formula, by adopting which you will never feel burdened by the EMI of your loan. Let us know.

Know this formula before taking a home loan.

We are talking about 3/20/30/40. In this formula, 3 means that the price of your house should not be more than three times your annual income. In this, 20 means 20 years, that is, the period of your loan should not be more than 20 years. At the same time, 30 in this formula means 30 percent of the salary. Your monthly EMI of a home loan should not be more than 30 percent of your salary. At the same time, 40 means a down payment of 40 percent. While taking a loan, you should make a down payment of 40 percent of the price of the house.