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Tata Capital > Blog > What is a Role of Eligibility Calculator While Availing a Home Loan?

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What is a Role of Eligibility Calculator While Availing a Home Loan?

What is a Role of Eligibility Calculator While Availing a Home Loan?

A home is not just a roof over your head; it is much more than that. Your home is the safe haven where you come back to escape the troubles of the world. It is a place of warmth, love, and comfort that you share with your loved ones. This is why you should never settle for a place that doesn’t feel right.

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A home loan allows you to own an abode that you love. At Tata Capital, we understand that purchasing a house is one of the biggest decisions in your life. We aim to offer the necessary tools that you need to have a seamless and hassle-free home buying experience. One of the tools that we offer our customers is our home loan eligibility calculator.

What Does Home Loan EMI Stand For?

Before getting into a home loan EMI calculator, know what home loan EMI stands for. EMI stands for Equated Monthly Instalments. This includes the actual repayment of the principal amount of your home loan and also the payment of the interest on the same. The percentage of the principal amount and the interest amount is dependent on the interest rate that is charged and the tenure for which you have taken out the home loan.

What is a Home Loan Eligibility Calculator?

A home loan calculator helps you in estimating your loan repayments. Our EMI calculator for home loan gives you an approximate EMI figure i.e. the total monthly instalment payments you will be making. Along with this, it also provides you with a complete understanding of the home loan repayment process as the home loan calculator shows you the monthly break up of your payment.

What is the Importance of the Home Loan Eligibility Calculator?

The home loan EMI calculator is a tool that helps you get a better understanding of the EMI that you will have to pay over the tenure of your home loan. You can, thus, plan out your finances by strategising your repayment schedule in advance.

We, at Tata Capital, give you the opportunity to customise your EMIs as per your convenience. Our home loan EMI calculator allows you to know just how much you have to shell out on a monthly basis.

What are the Home Loan Eligibility Criteria?

When you apply for a home loan, your home loan eligibility is significantly dependent on your income and your repayment capacity. Along with this, there are some other factors such as age, credit score, credit, etc. that affect eligibility.

At Tata Capital, we provide home loan with minimal documentation and attractive home loan interest rates. Use our home loan calculator to determine your eligibility and monthly payments. Simply enter your net income, monthly obligations, and tenure to apply for housing finance quickly.

Visit us today to learn more about our home loan eligibility requirements.

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