Calculate EMI and Eligibility with HomeFirst Home Loan Calculator

HomeFirst Home Loan Calculator: Calculate EMI and Eligibility

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HomeFirst home loan calculator is an online tool used for calculating the EMI of a home loan. Paying off home loans alongside the accrued interest within the stipulated period requires precise financial planning. It’s important to assess the repayment capability before choosing the loan to avoid any financial mess. This is often where a home loan EMI Calculator can be best put to use.

HomeFirst offers housing loans to salaried, self-employed, and self-employed professionals. Special home loans are designed for agriculturists, planters, horticulturists, and dairy farmers. EMI or Equated Monthly Instalment consists of two parts. The principal loan amount and therefore the interest charged on the quantity. HomeFirst Bank home loan EMI calculator is out there on the bank’s website that gives the purchasers a transparent image of the entire loan cost alongside the interest charged.

What is Home Loan EMI?

EMI stands for Equated Monthly Installment. EMI is basically the fixed monthly installment which you pay towards your loan to your lender. So, Home Loan EMI is the installment that you pay towards the home loan which you have borrowed.

Benefits of Applying for Loan in HomeFirst

  1. Smooth and simple processing of the loan is obtainable by experienced personnel.
  2. We ensure complete transparency in our dealings with no hidden charges.
  3. While acquiring a property an individual can get counseling and advisory services.
  4. The integrated branch networking allows an individual to use for a loan in any HomeFirst bank. This enables you to buy a home anywhere in India.
  5. We provide flexible loan repayment options and safe document storage.
  6. Various online tools like HomeFirst home loan EMI calculator, HomeFirst home loan eligibility calculator is available for the purchasers to form convenient decisions while applying for a loan.
  7. Automated Repayment of EMIs from HomeFirst Bank account is obtainable for the purchasers to repay their loan amount with ease.

Know More About HomeFirst Home Loan EMI Calculator:

Before going to understand the house loan EMI calculator, it’s important to understand the essential information about what’s home loan EMI because if you don’t know the thing that you’re calculating then it’ll be an entire waste of your time to know about the calculator. EMI, the short form for Equated Monthly Instalments, is a fixed monthly amount that you simply pay per month so on return the borrowed amount from the lender. Since a lot of people cannot pay the entire amount in one move to purchase their dream home, they choose the simple EMI facility which can be a flexible repayment option.

Now you’ve known about the home Loan EMI, it’s time to introduce you to the much-talked-about HomeFirst home loan EMI Calculator. This calculator helps you in estimating your EMI amount with the help of a few basic details like all other calculators, it develops on the inputs that you simply just give to it. In the case of the HomeFirst home loan EMI calculator, it only needs three inputs – loan amount, rate of interest, and tenure. As soon as you feed these details into it, you’ll get the required output owing to the EMI amount. Its ease of use makes this method popular with everyone.

Benefits of HomeFirst Home Loan EMI Calculator:

  1. Simplicity and Speed: You don’t need different values full of complexities to use the HomeFirst Home Loan EMI Calculator. Actually there are only three simple details that you simply need. Simplicity is the best feature of it and you’ll get the leads to a flash which makes the whole process of EMI calculation smooth and hassle-free.
  2. Finance Management: A transparent EMI assessment makes it simple to adjust your spending and effortlessly set aside the payment amount. The EMI calculator helps you financially empowering you by providing you with authentic results.
  3. Endless Flexibility: You’ll be ready to use the calculator as many times as you’d like. You can try with different values till the time you bought the proper combination of right EMI and tenure. This can help you in aligning perfectly alongside your monthly income. This endless flexible feature of the EMI calculator makes it a requirement to use before finalizing the loan amount. Remember that choosing a brief tenure will fetch the upper EMIs and therefore the other way around.
  4. Amortization Table: The calculator doesn’t only provide you with the EMI amount but also the amortization table. This table will help you’ll with an estimate about the principal and interest amount at different points of your loan tenure. With the assistance of this, you can also cross-visit the bank. Furthermore, this will help you understand an estimation about the payments that you simply need to make.

HomeFirst Home Loan Eligibility Calculator:

The home loan eligibility calculator is a web tool that gives an estimate of the loan amount which can be availed. Before applying for a home loan, knowing the amount you’re eligible for help in increasing the possibility of loan approval. The calculator provides results instantly on the premise of the income and repayment capacity, which is assessed using details like fixed monthly obligations, age, etc. However, before approving a loan request, lending institutions consider many other factors, like credit score, financial position, etc.

Calculate Home Loan Eligibility

How You Can Enhance Your Home Loan Eligibility:

  1. Applying jointly: Include either your earning spouse or a co-applicant as a joint application of the loan, your loan eligibility could improve substantially. this is often actually because the joint applicant’s income also will be taken into consideration while determining the loan eligibility. But remember, the factors discussed above would be applicable to the joint applicant too.
  2. By closing other loans: If you’re paying other EMIs, you’ll consider closing them immediately by pre-paying, in order that you’ve got a much bigger surplus available to channel towards your home loan EMI. This helps push up your eligibility.

Home loans are quite common these days. Several Financial institutions and Non-banking Financial Companies Like HDFC Home Loans, ICICI Home Loans, SBI Home Loans, etc., are offering aid to individuals with a flexible repayment tenure and rate of interest. Repayment of the loan amount is formed easily with EMIs. they continue to be fixed for each month of the repayment tenure. to understand the EMI amount a private must pay over a loan amount and for a specific period, a tool called HomeFirst home loan Calculator is used to plan investments proficiently.

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Also read:

HomeFirst Home Loan Calculator: Know How to Use EMI Calculator

Tips to Increase Your Home Loan Eligibility

Home Loan Eligibility Calculator: Check Housing Loan Eligibility

Home Loan EMI Calculator: Know Your Home Loan EMI

Missed Home Loan EMI Payment?

How To Reduce Home Loan EMI?

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Your home loan will be processed in 2 steps:

  1. You receive the approval of your home loan.
  2. You sign the loan agreement papers and complete other necessary documentation. The loan amount is thereafter paid directly to the builder by Home First Finance Company.

Loan decisions are made in less than a week. You will receive an SMS on your registered mobile number as soon as we make a decision.

HomeFirst does not charge any prepayment fees. This applies to both partial and full repayments. In fact, we have a special Auto-Prepay feature to facilitate this process for you.

HomeFirst offers loan tenures between 1 year to 25 years. If you opt for a longer tenure, you can get the advantage of a lower EMI each month.

HomeFirst can provide finance up to 90% of the property value. The balance has to be arranged by you from other sources. Please note: 90% financing is only available for loans amounting to less than Rs. 30 lakhs.

All co-owners of the property have to be co-applicants to the loan. A person who is not a co-owner can also become a co-applicant to the loan.

During the construction phase, HomeFirst will disburse funds to the builder on your behalf. These will be based on payment requests made by the builder as per the construction schedule.

HomeFirst will charge interest only on the amount disbursed as loan during the construction phase. In this period, interest is charged only on the disbursed loan amount. For example, if you have a sanctioned loan of Rs 10 lakhs, but the property is under construction and we have disbursed only Rs 4 lakhs, you will be charged interest only on 4 lakhs. These interest payments are referred to as pre-EMI interest payments.

EMI payments will start only after completion of the project and registration of the property.

All cheques to HomeFirst should be written out in favor of ‘Home First Finance Company India Limited’.

In the event of an unfortunate incident, home loan insurance will help you or your family pay off the home loan. This ensures that the burden does not suddenly fall upon family members at a bad time.

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