Mortgage Loan Interest Rate: Everything You Want to Know

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Mortgage Loan
Interest Rate Everything You Want to Know
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How do lenders calculate mortgage loan interest
rate?
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• The lender generates an amortisation schedule
  to calculate the interest rate.
• The lender generates a payment schedule by
  splitting the principal and interest components.

3

• Different types of mortgage loan interest rates
  in India

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Fixed rate of interest
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• During the loan term, the interest rate and EMI
  remain same.

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Adjustable rate of interest
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• The interest rate fluctuates in response to
  RBI's base rate.

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Difference between mortgage loan APR and interest
rate
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• APR includes the interest rate and other loan
  costs such as processing fees, foreclosure fees,
  and so on.

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What is mortgage loan interest rate calculator
and how does it work?
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• It allows borrowers to calculate loan EMI in
  advance.
• You can calculate EMI by entering loan amount,
  tenure, and interest rate.

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How to get a low interest mortgage loan?
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• Pay your EMIs on time.
• Have a stable job or business.

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• Thoroughly understand the various mortgage loan
  interest rates and select the one that best
  matches your budget.

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Hero Fincorp Limited
09, Basant Lok, Vasant Vihar, New Delhi -
110057
Tel [phone]
Email corporate_at_herofincorp.com
Website https//www.herofincorp.com/
Know More Mortgage Loan Interest Rate
Everything You Want to Know