Every prospective homeowner looking for a home loan is akin to a blind man trying to make sense of everything with the help of the instinct. However, since the kind of home loan deal you manage to strike with your lender reflects on the kind of future you will have, getting to know the whole picture is always a wise decision. With the calculators at LoanYatra.com, you are gifted with the knowledge of what you will find in the loan sector. You will be able to dodge all surprises and come out stronger.
Don’t let your future boil down to a lifetime of EMI payments with the right calculator for your needs.
Home Loan Eligibility Calculator- The Home Loan Eligibility Calculator helps you know whether you are eligible for a home loan in the first place. Contrary to the popular notion, your lender conducts a thorough background check before trusting you with the money. There’s nothing worse than applying for a home loan and ending up dejected and disappointed just because you didn’t qualify. Save yourself the shock at the outset by using this calculator. You just have to input the requisite information like your gross monthly salary, the name of your company, the location of the property who are seeking a home loan on and the type of loan you desire. You can rest assured that this calculator would keep the legal formalities to a minimum. Since knowledge is power, even if you don’t find yourself eligible, you can plan for a future when you will be.
Balance Transfer Calculator- With the Balance Transfer Calculator, you are given the guarantee that not only would you be able to pay less, but also pay off your loan fast. You would be required to enter your current home loan details like the principal outstanding amount, the interest rate, your existing EMI, the number of EMIs left to be paid and the name of your bank. Once you inform this calculator of your property location, you will be notified of your bank transfer details.
Part Payment Calculator- Whenever you apply for a loan, the subject of EMI payment always persists like a thorn. Not all lenders take the time out to explain the algorithm behind the total amount you would be required to pay and the number of instalments you can distribute so as to lessen the huge financial burden. This is where the Part Payment Calculator comes in. You have to enter the total loan amount, the rate of interest on it, the repayment EMI, the number of months and whether you want to make the payment all at once, on a monthly, quarterly, monthly or half yearly basis. You will be notified of the part payment you need to make to reach closure sooner than you had formerly expected.
Home Loan EMI Calculator- The Home Loan EMI Calculator is one of the most efficient of the bunch as you would find a pictorial representation of the breakup of your total home loan repayment amount. Just input your home loan amount along with the interest rate and loan tenure and this calculator would tell you the monthly EMI value, the interest payable and the total payment you’ll be making. If you’re still trying to grasp what you are in for, the pie chart is there to make the complicated maths a lot easier to understand.