Fetching access to the Home Loan EMI calculator via calculatoremi.com, you can easily calculate monthly and total expenditures. It can even become useful for calculating prepayments, taxes, and insurance while buying a home using your bank home loan.

Moreover, if you don’t know, there are some Home Loan details that you need to know before you start making calculations via the Loan EMI calculator. And these are single premium loan insurance and processing fees, which you need to take into consideration. So without any further delay, let’s explore more about Home Value or Prepayments. And even, Taxes or Loan Insurance and how the Home Loan EMI calculator can assist here.

## Where to use Home Loan EMI Calculator?

- First and foremost, the buyer must know that the “Home Value” is the actual price of your purchased home. It is commonly popular as the sale deed value among people.
- Next, the important thing is the “Down Payment,” whose other name is Margin. The buyer needs to consider it because it is the total amount you need to pay the builder or seller. And while calculating the amount via the Home Loan EMI calculator or Loan EMI calculator via calculatoremi.com, try and enter the Home Value, either in Rupees or percentages.
- Another thing is “Loan Insurance,” which is a single premium amount. The loan insurance is meant for the Home Loan Protection Plan (HLPP) OR Term Insurance Plan. Moreover, it has to be included in your home loan amount, which you can easily add via Home Loan EMI Calculator. In order to interpret the amount, use the “Loan EMI Calculator.” So you can calculate the yearly premium for the term plan via loan term, your age, and loan amount for Sum Assured. Further, you need to multiply this number by your loan tenure to get the results.
- Afterward, you have to calculate the amount as Home Value + Loan Insurance — Down Payment. Apart from this, the interest rate needs to be compounded.
- Further, you need to enter the Loan Fees & Charges, such as Administrative Charges, Processing Fees, etc., along with service taxes. Ensure to enter these things either in Rupees or as a percentage of the Loan Amount into the Home Loan EMI Calculator.

### Factors of Home Loan EMI Calculator

Being a Homeowner, you can enter your expenses either in Rupees or as a percentage of your Home Value into the Home Loan EMI Calculator. Remember, whether you pay home insurance premiums and property taxes each month or not. But it will be included in the total monthly payment, along with an assumption that you are setting aside this amount each month. Next, you need to ensure that you have sufficient money to make the payment at least twice annually. Notably, the recurring expenses remain uncertain and change over the lifetime of the home loan due to some factors, such as inflation. It may continue and remain even beyond the home loan tenure. Therefore, to bring clarity to resolve these illusions, here you have a number of factors. It would help if you considered these factors, especially when it comes to renting or Buying a home.

- Initially, into the One-time Expenses, you can include Registration Fees. Plus, the Stamp Duty and other expenses such as bribes or a housewarming party. And to make these calculations easy, you should take help from Home Loan EMI Calculator.
- The next one is the Property Taxes, an annual payment you need to make to your local municipal body.
- Another one is Home Insurance, an annual premium you need to pay to insure your home. Remember, you need to pay for this only if a loan insurance plan doesn’t already cover it.
- Here the Monthly Maintenance Expenses are for you if you are conscious about the maintenance of your apartment. So it can remain clean, shiny, and ‘water-full’ for a longer period of time. In case you stay in an independent house. The assumption of your annual maintenance expenditure is nearly one percent of your home value. Now to figure it out, you need to divide this number by 12, so you can get the maintenance amount on a monthly basis.
- And that’s how the prepayments can help you pay off your loan faster and reduce total interest cost via Home Loan EMI Calculator.

Previous Article – Loan Calculator – Calculate EMI, Affordability, Tenure And Interest