1.Loan Amount
Describes the maximum amount that a borrower can borrow. The maximum loan amount is based on a combination of different factors involving the specific loan program, the value of the property that secures the loan and the borrower's qualifying ratios and credit history.
2.Interest Rate
An interest rate, is the amount of interest due per period, as a proportion of the amount lent, deposited or borrowed interest rate is the amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets.
3.Loan Tenure
A fine balance between EMI amount and Home Loan Tenure. A home loan helps you realize your dream of having your own home. A home loan comes with its own financial commitment, in the form of EMI (Equated Monthly Installments) that has to be serviced by you diligently over the tenure of the loan.
4.EMI
EMI stands for Equated Monthly Installment
It is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. Equated monthly installments are used to pay off both interest and principal each month so that over a specified number of years, the loan is paid off in full.