Loans calculations made easy.

 

 

We live once and we die once so do we build a house once. Build your dream house is not at all an easy task these days. We need huge planning and support to build a house because a house is not built everyday and thus every aspect should be perfect to perfection before we start building our house.

I have been through this recently and so I know it in and out what are the does and don't 's of building a house. The main ingredient to building a house sucefully is the proper planning of your resources specially your financial resources because each and everything completely depends on it. When I started my planning I felt stuck many a times at many places. Managing my finances properly was the most difficult challenge I was facing. I was getting a loan financed for my house but yet things seemed so far for me until I

 

came across an online website which has calculator which allows you to calculate everything in one button press. Like if you want to estimate your monthly payment against the loan you are willing to take , it calculates everything in just a click.

 

The calculator is easy to use, there are different sections that you need to fill in with your data. In my case I had opted for a home loan so all I did was fill in the total amount I was opting for, deposit that I had made against the amount, mortgage amount, interest that you have taken the loan against and finally the term or period for which you have opted the loan for. The second you click the calculate key it does all the calculations in a snap. Although the currency offered by the website is in UK Pound but it still works for any country pretty well. Convert your amount into

 

Pound according to the current rate and rest is easy and at the end re convert the currency to your own country.

 

So I had a loan sanctioned for 30 Lakhs at an interest rate of 3.20 % for a time period of 10 years. So firstly I converted 30 lakhs to Pound which came across 30121.96 £ I paid a deposite of 10 Lakhs which was around 10040.65 £. So I filled the calculator with the my data as shown above in the image and clicked on

 

calculate and everything was done in a second.

This was a great help for me it made my calculations very easy and I was able to think and plan the loan that I was getting, it gave me a perfect picture of what I was paying against the loan and whether it was in my budget or not. The calculator is free to use at http://MortgageCalculator.uk . It has many other calculator at your fingertips to calculate different aspects that you need.  So find the calculator you need and it will serve you well.

 

Also to save you guys from hassle a small piece of information which I would like to share is that if you are thinking of applying for a loan be it for anything be sure to check your credit score before applying the loan. There are websites like Credit Karma which helps you find your credit score or civil score for free just by entering the Pan Card number.

So next time if you are building a house, renovating one or planning to buy a second house do visit http://MortgageCalculator.uk for your calculations. It really served me well hope it does same for you.