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A quick guide to preparing yourself financially to buy a house

Use the interactive home loan calculator to calculate your home loan EMI. Get all details on interest payable and tenure using the housing loan calculator<br>

ShreekantRao
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A quick guide to preparing yourself financially to buy a house

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  1. Emi Calculator

  2. A quick guide to preparing yourself financially to buy a house

  3. For most people, a house is a one-time purchase. • Consequently, buyers often tend to overstretch themselves financially, to invest in the best property they can buy. • Considering that investing in a house, is perhaps the single biggest financial commitment that most people make during their lifetime, it is important to use objective criteria, to decide how much you can afford.

  4. If you wish to increase the loan amount, you can club your spouse’s income with yours and borrow more. • However, this option has a pitfall. Whenever you decide to start a family, you may go from being a double-income to a single-income family and the inflow of money into your household will dip. • See also: Financial checklist for buying a house Ensure that there is enough money left, through the tenure of the loan, after paying your EMI through Emi Calculator.

  5. Down payment You will also have to systematically save money to make the down payment on the house. • This is generally 20% of the cost of the house, which the bank won’t finance. • If you intend to purchase a house within the next three years, stick to low-risk instruments, such as fixed deposits and fixed maturity plans (FMP). • Source: http://www.moneycontrol.com/news/real-estate/a-quick-guide-to-preparing-yourself-financially-to-buyhouse_8005941.html

  6. Follow us on : https://www.facebook.com/HDFCHomeLoanExperts https://twitter.com/HomeLoansByHDFC https://www.youtube.com/user/hdfcltd https://www.linkedin.com/company/hdfc?trk=top_nav_home

  7. Click to know more on Emi Calculator: https://www.hdfc.com/home-loan-emi-calculator Thank You…

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