About

“Online Advance Home Loan Calculator” aids in the calculation of EMIs for a home loan that required to be repay in a specified time of period. This tool helps clients and customers to make a well informed decision regarding the finances and payment of the loan.

Advance Home Loan Calculator also give the total number of EMIs that will be required to pay over and the cost in total. This is also a perfect tool for planning of finances after taking into consideration all the prime expenses such as a loan EMI.

What is EMI: Equated Monthly Installment?

Equated monthly installments are applied to both interest and principal amount. Repayment of loan or EMIs are the first concern while planning to take a home loan as this amount is generally a very big amount. So, planning is must in this matter and our tool “Online Advance Home Loan Calculator” is a perfect option for this. First calculate, manage and then move ahead for taking a loan.

What is Home Loan? The home loan is one of the biggest and be after loan. Nowadays property rates are increasing day by day, so having own house is a very good idea for both investor and owner. A home loans can be availed from any banking or non-banking firms to buy a house.

What is the Mathematical Formula of Home Loan Calculation?

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Where:

P is the principal loan amount

R is the monthly interest rate

N is number of years for which the loan has been taken.

The EMI value will change each time you change any of the three variables.

These calculations become easier with “Online Advance Home Loan Calculator”. You just have to enter the desired inputs that are: P, R and N.

How Online Advance Home Loan Calculator works?

If you enter the following inputs in the Online Advance Home Loan Calculator, then output will be:

For Example:

Inputs:

P = 250000, R = 7%, N = 15

Output:

Monthly Payment: ₹2247.07

Total Payment: ₹404472.72

Total Interest: ₹154472.72

It will also provide calculated EMIs for the given number of years. As shown below:

Yearly Data:

Year 1: Interest – ₹17500.00, Principal – ₹9464.85

Year 2: Interest – ₹16837.46, Principal – ₹10127.39

Year 3: Interest – ₹16128.54, Principal – ₹10836.30

Year 4: Interest – ₹15370.00, Principal – ₹11594.85

Year 5: Interest – ₹14558.36, Principal – ₹12406.49

Year 6: Interest – ₹13689.91, Principal – ₹13274.94

Year 7: Interest – ₹12760.66, Principal – ₹14204.18

Year 8: Interest – ₹11766.37, Principal – ₹15198.48

Year 9: Interest – ₹10702.48, Principal – ₹16262.37

Year 10: Interest – ₹9564.11, Principal – ₹17400.74

Year 11: Interest – ₹8346.06, Principal – ₹18618.79

Year 12: Interest – ₹7042.74, Principal – ₹19922.10

Year 13: Interest – ₹5648.20, Principal – ₹21316.65

Year 14: Interest – ₹4156.03, Principal – ₹22808.82

Year 15: Interest – ₹2559.41, Principal – ₹24405.43