Finance World

  Although I am not an expert at computers and stuff I do love hacks! Just the ones that deal with finances. Yeah, who doesn’t love money? And sometimes one has to borrow money to fulfill our needs and dreams – one of them is owning a home. Now, people do love the part where they have a home to call their own but not the part that helps them get one – I am talking about   Home Loan EMI . That time of the month when you have to pay for the dream that you’ve just realized. You may be hating it right now, but there are ways to manage them. Some ways can help you reduce that   burden   you think you have to bear for a good part of your life. Well, here we go. Some hacks to reduce your Home Loan EMI: Higher Down Payment: You see, a Home Loan consists of 2 parts. The money you borrow and the money you shell out of your own pocket. Now, it doesn’t take a genius to guess that you pay interest only on the part that you borrow (which can be up to 90% of the total house buying ...

  Home loan EMI   is a significant payment that must be made on time. Despite your best efforts, you may fail to make your home loan EMI payment owing to unforeseen situations such as job loss or a medical emergency. Are you aware of the consequences? Read further to learn everything about it. Home loan equated monthly installments (EMIs) are a considerable percentage of many buyers’ regular expenses. So, what happens if you find yourself in a situation where you cannot fulfill your EMIs on a consistent basis? This could be due to a family emergency or a job loss, among other things. It’s critical that you don’t bury your head in the sand. If you fail to make your EMI payments, the interest will be applied to your total outstanding sum. This indicates that your loan will most likely become more expensive in the long run. What happens if you miss your Home Loan EMI due date(s)? A missing home loan EMI(s) has distinct implications, which vary according to your existing circumst...

  A home loan is a significant financial commitment that typically lasts decades; therefore, borrowers should conduct thorough financial planning before taking on an obligation of this magnitude. Using a   Home Loan Calculator   is one of the simplest ways to plan your home loan journey. The calculator is a useful online tool that is available for free on the websites of most lenders. It can be used to forecast a rough EMI plan that corresponds to the loan amount desired. This will not only give you a good idea of how feasible your home loan request is, but it will also reduce the possibility of human error. Borrowers can also use the EMI Calculator to experiment with different loan amounts and tenor combinations to find the best EMI for them. In simple words, a Home Loan Calculator allows a person to create a repayment schedule and plan their loan journey accordingly. What is Home Loan Calculator? A home loan calculator is an online calculator that is used to compute...

  Buying a dream home is not always an easy job. Sometimes your finances don’t permit you to dream big. A quick and easy way to calculate your home loan eligibility is the Home Loan Calculator. So what is a Home Loan Eligibility Calculator? The   Home Loan Eligibility Calculator   is a simple device that is used to calculate your home loan eligibility in just a few clicks.  You should always plan your purchases only after getting a better understanding of your expenses. Use the home loan eligibility calculator to make well-informed decisions and stay a step ahead. Turn your home loan eligibility into a stepping stone, not a ceiling. Smart planning can unlock financial options and bring you closer to your homeownership goals. Let’s Understand Home Loan Eligibility Housing loan eligibility is a value that must be fulfilled by a borrower before applying for a home loan. These values are different for each bank and non-banking financial institution and check the reliabil...

  Homefirst has its own Home Loan Calculators. We have your different needs covered under us with different calculators serving different needs like   Home Loan Eligibility Calculator ,  Home Loan Prepayment Calculator ,   Home Loan EMI Calculator , etc. Further, all calculators are designed as general self-helping tools to meet financial planning needs based on salary or income and other factors.  Home Loan EMI Calculator  Guide The variables mentioned in the guide are the amount I want to borrow, the period for which I want to borrow, and the interest rate. These are some important factors that determine the Home Loan EMI.  Amount I want to borrow column:  Input the amount in Indian Rupees, which represents the money you require to be financed by us. Typically, this is the amount of (home value + loan insurance value – down payment) that you have provided.  For the period for:   Specify the tenure in years for the period for which you ...

  Perks of an owner….! As an owner, you are entitled to enjoy certain liberties that you may not enjoy as a tenant.  Firstly, your memory wall could exactly look like how you want it to look! You don’t need to seek a list of dos and don’ts from anyone which is a common cause of conflict when you move into a rented house.  Secondly buying a house is an invaluable asset, at any given point in time you decide to sell your house it will yield you more ROI (Return on Investment) than a rented house would…Simply since you are not an owner you can’t sell it.  As an owner you will always feel more settled than as a tenant , since buying a house is an asset and also it gives you freedom from the pressure of landlord knocking on your door for various irrational reasons. EMI  you will pay for your own house will always remain constant as against the rent amount which is bound to increase with time. Paying an EMI is always more profitable than giving rent. EMI works out as...