Affordability Worksheet: Can you afford a second home?
Name
Monthly gross income* (Rs)
Max. EMI recommended
(40% monthly gross income)
Rs
Debt-service ratio (%)
EMI/lakh (Rs)
10 years @ 12%
15 years @ 12%
20 years @ 12%
Existing EMI
(say Rs 14,000)
EMIs per lakh for 10,15 and 20 years term at 12% are Rs 1,435, 1,201 and Rs 1,102 respectively.
*Take-home salary before taxes
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