Hi Folks, lots of questions from our visitors have been coming on Home Loans since Banks started reducing home loan rates. Please see the previous posts for our views on what factors to consider when home loan interest is reduced (and if you are on a fixed interest rate home loan plan).

Here’s a question from Tushar Roy: If my monthly take home pay is Rs.12,000, then how much Home Loan amount can I get when it will be for 15 years?

Answer: Please use this Home Loan EMI calculator

http://wealth.moneycontrol.com/emi_calculater.php

You should take EMIs on the lower side of your affordable income because if situation turns difficult with job loss or business loss, then you can still manage to clear the EMIs.