What is EMI in home loans?

Any loan has to repaid along with interest. In the case of home loan EMI system of repayment, interest for the entire loan tenure is computed and added to the principal amount. Then the sum is divided by the number of months in which the loan has to be repaid. The result is called EMI. This amount has to be repaid regularly. For accounting purpose the interest components of the EMI would be larger in the initial months and gradually go down. The real rate of interest will be much higher than the rate interest advertised by the Financial Institutions as the principal is also being repaid from first month onwards; but the interest is calculated for the whole loan tenure.

Sorry, could you elaborate?

How much home loan to take ?
pay per annum approx 6 L , age 35 how much max home loan can i get ? wat should be the ideal EMI?
Approx 50,000/- a month. 22,500/- can be monthly EMI. per lakh @ 8.75% rate of interest, for 20 years term is approximately Rs.870/- so your eligibility is around Rs. 26,00,000/-

Mortgage Loan against house, that is already on Home Loan?
Hi I have a House, That is bought with Home Loan. The Loan was almost 85% of the total house value. I have completed two years of EMI. Can I take Mortgage Loan against that House?
Sounds like you bought it two years ago. If this is true you would be better to refinance at the current rates. (It depends on if it was 85% of the value then or now). Your house is likely worth less now than it was two years ago. In any case, refinance the balance (+ only what you need) at the current rate.

I am an IT payer & want to take a home loan to purchase the land?
Here I want to know will i am entitled for Income Tax rebate even i have not build a home. and how much rebate i get if i paid a EMI of 8000 Rx which includes approx 50% of Intrest (Basicly its very Month by Month). Will it calculate according EMI or only on Intrest factor in this
IT benefits are only for housing loan not for purchase of plot! In housing loan, 1.5 Lakhs Interest & 1 lakh principal repayments are considered as deduction!

Which option will make me 'Home Loan Eligible'?
Looking for a home loan for 25-30 Lacs. I am Paying an EMI of 8k as car loan. Already paid first 6 EMIs out of a total of 36. Should I pay the entire amount as lump sum and then apply for home loan? Or Should I continue to pay the EMI and then be in good terms with the bank?
Make an appointment to see a Mortgage Broker as they are professionally trained, to get you the best deal for a home loan. A Mortgage Broker will tell you what your best option is, and can also be of assistance in rearranging your mortgages overall, so you pay less interest.

I want to buy a home, but i have Personal Loan outstanding(4.5 lacs) monthly emi around Rs.20000 i am paying.?
Give me a solution