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Home Loan Eligibility Calculator
Home loan eligibility calculator helps find home loan eligibility of an individual based on the net salary he earns, home loan amount required, loan tenure and the applicable rate of interest.
In normal conditions an invidual can easily be eligible for a home loan amount having an EMI less than 50% of his net income.
In normal conditions an invidual can easily be eligible for a home loan amount having an EMI less than 50% of his net income.
For an example in the above given home loan requirement
an individual having a net salary of Rs.10000
can easily be elegible for a loan amount of Rs. 200000
having a loan period of 240 months (20 years)
at the rate of interest of 10% per annum
paying a loan EMI of Rs.1930 (approx)
which is less than 50% of his net take away income.
an individual having a net salary of Rs.10000
can easily be elegible for a loan amount of Rs. 200000
having a loan period of 240 months (20 years)
at the rate of interest of 10% per annum
paying a loan EMI of Rs.1930 (approx)
which is less than 50% of his net take away income.
For the above given criteria an individual can get a home loan upto Rs.510000 having a home loan EMI of Rs.4922 approx.
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