Skip to main content

Advance repayment Calculator- Reduce Home Loan Repayment Amount Simple Tip


Advance repayment a feasible option for saving lots of money every month on your home loan. Payment in advance literally means if you have the extra income you would be able to repay your EMI amount along with some more money extra to reduce the total repayment amount of your home  loan.
There may be an possibility in case of increased source of additional income source coming from other spouse salary, gift from friends and parents, or bonuses and tax savings which allow you to save some more extra money every month. This option would be very useful if you can reduce the burden of your home loan even in minimal amounts, as in the long run it would help you save a substantial amount.
Advanced repayment calculator is a simple easy tool to find out and calculate how much money you can save from your home loan by repaying some extra amount towards the repayment of your home loan. As mortgage loan calculators, EMI calculators and interest calculators this online advanced repayment calculator is a good option to calculate the amount of savings by additional repayment of money towards your home loan repayments. You may also consider paying a lump sum amount once, to reduce your mortgage, or you could calculate a extra amount for repayment along with your EMI every month. .There is no fixed amount of money listed and you can fill up the amount you feel you could possibly shell out every month and calculate how much you will save in the long run towards your home loan repayments, and of course how sooner you will be free from your mortgages .
All the Best from Rizwana!
Labels:

Comments

Post a Comment

Popular posts from this blog

Debt Management for Personal Loans

Personal loans can offer individuals a way to have the funds for an array of uses. Some are necessary while others are for pure enjoyment. It is important that you consider the financial obligation that comes with personal loans. Too often, individuals access money quickly then struggle to repay it. If you don’t have a good budget in place you may find yourself unable to make the payments on your personal loan. An area where many individuals get into trouble with personal loans is debt consolidation. Within a year most people who use personal loans for this find themselves in even worse financial shape. This is because they have not altered their spending habits any. The result is they charge their credit cards up to the limit and now have those payments to make again as well as a personal loan payment. They may soon find they are drowning in the swimming pool of debt. Enrolling in a debt management plan may be a great alternative for you to help you meet your financial obligation...
1 comment
Read more

What are Interest Only Home Loans – Simplified Facts on Interest Only Home Loans

What are interest only home loans.   ‘Interest only home loans’ means that the borrower ends up paying only the interest for some years and then the principle amount is added later for years.  This has risen as a better option for many who are not in position to pay large amounts as EMI’s in present years. Usually for homes bought in construction phase, you keep paying small amounts of interest. In this type of offer the lender gives money to the borrower and the purchase deed is completed. The borrower becomes the owner of the house. Every month he has to pay a small amount that is interest to the principle amount (loan amount). During later years, as    the construction progresses and the housing complex is ready   he has to pay the interest along with large sums of the principle amount. This option may be good for individuals who are highly qualified and have a new job and they know that over the years their salary is going to increase with their experience....
Post a Comment
Read more

Fresh New Developments in Home Buying and Home Loan Industry

There is a gradual change and slow movement observed in the home industry and home loans market. After the long silence it is a welcome change for the builders and the home loan finance industry. As we move in any direction east, west, south or north, Mumbai or the outskirts, everywhere we see constructions going on and even though here was a lull in the market since the past few years due to Government and Reserve Bank rules and regulations there is a welcomign change being seen now. As the government too has reduced the burdens loaded on the builders so also the home loan industry is offering new low price quotations and offers for the buyers and home loan borrowers.With reduced interest rates, and many warding off totally the prepayment penalty with new latest amenities offered at the same price per square foot the customers are preparing to make their move. Still necessity, an own  place to stay,  is the only decision maker and where customers are concerned. The investment...
Post a Comment
Read more