Guwahati, July 28 -- Purchasing a house is a goal for most people, but exploring the world of mortgages may be quite intimidating. Understanding your monthly installments, or what is referred to as equated monthly installments (EMIs), is extremely important. Fortunately, a home loan EMI calculator can be your helpful gadget! This handy online tool saves you the hassle of guessing when it comes to homeownership. Now let's understand its working mechanism in detail.

An EMI calculator is a free tool available online that calculates the equated monthly installments (EMIs) towards the home loan. It considers three key factors:

Loan amount: The total amount you get from the lender; this is also called the principal amount of the loan.

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