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Home Loan Calculator
- I = Annual Interest Rate on loan
Defination / Uses
Home Loan refers to capitalist that's adopted from a bank or any analogous board for the purpose of buying a house or apartment. Home Loan math is grounded on the EMI of the annual income that's earned by the loan possessor.
Home loans, also known as mortgages, use the borrower's home for collateral. The measure of home loan you're eligible for depends on factors like your occupation (whether you're salaried/ character- employed), your income, the interest rate charged by the bank and the tour of the loan.
Types of home loans:Depending upon your purpose, you can avail different types of home loans:
- Home purchase loan
- Land purchase loan
- Home construction loan
- Home extension loan
- Home improvement loan
- Home loan balance transfer and Top up home loan