Are you planning to apply for a home loan, but you are not sure whether you are eligible? A hassle-free way to check your home loan eligibility is to use an online calculator. Lending institutions consider various factors to determine whether you are eligible for a home loan.
In the Piramal Finance home loan eligibility calculator, you will have to enter various details to determine whether you qualify for the loan. It will ensure that home buyers don’t get rejected after applying for a home loan.
|25 years||30 years|
|30 years||30 years|
|35 years||30 years|
|40 years||30 years|
|45 years||25 years|
|50 years||20 years|
Check out the home loan amortization schedule below:
|Year||Outstanding Loan Amount||Principal Amount||Interest Amount||EMI|
|2022||₹ 5,181,170.00||₹ 66,908.58||₹ 43,176.42||₹ 110,085.00|
|2023||₹ 5,114,261.42||₹ 847,750.56||₹ 473,269.44||₹ 1,321,020.00|
|2024||₹ 4,266,510.86||₹ 936,521.11||₹ 384,498.89||₹ 1,321,020.00|
|2025||₹ 3,329,989.75||₹ 1,034,587.12||₹ 286,432.88||₹ 1,321,020.00|
|2026||₹ 2,295,402.63||₹1,142,921.90||₹ 178,098.10||₹ 1,321,020.00|
|2027||₹ 1,152,480.73||₹ 1,152,515.47||₹ 58,419.53||₹ 1,210,935.00|
Home loan eligibility can be described as a set of criteria depending on which a lender determines the creditworthiness of an applicant. Financial institutions check house loan eligibility to ensure that you will succeed at repaying the loan within the predetermined tenure.
At Piramal Finance, the home loan eligibility criteria are as follows:
For a mortgage eligibility check, you can utilize the housing loan eligibility calculator from Piramal Finance. To determine your eligibility, you will need to enter information such as your occupation, age, income, and so on. The amount you can borrow is determined by your eligibility.
Home loan eligibility calculation is primarily done after assessing the annual income of the applicant. After that, the age, credit history, credit score, and financial position of the applicant are taken into account.
The answer to “how much home loan can I get” depends on the following factors:
If you wish to increase home loan eligibility, you should keep in mind the following:
Piramal Finance is a part of Piramal Group Enterprises Limited and is registered under National Housing Bank. It offers retail and wholesale funding opportunities to companies across different industries. It is also involved with financial service businesses. The business loan benefits offered by Piramal Finance enable companies of different sizes to fulfill their goals. But Piramal Finance also offers other kinds of loans, including housing and personal loans.