Question 1

What is a home-loan EMI?

Accepted Answer

EMI (Equated Monthly Instalment) is the fixed rupee amount you pay your lender every month, combining principal repayment and interest, until the loan is fully repaid.

Question 2

How is EMI calculated?

Accepted Answer

EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the principal in rupees, r is the monthly interest rate, and n is the number of monthly instalments.

Question 3

Does a longer tenure reduce my EMI?

Accepted Answer

Yes — a longer tenure lowers the monthly EMI but increases the total interest you pay over the life of the loan.

Question 4

How much of a Mumbai property can a home loan cover?

Accepted Answer

Lenders in India typically fund 75–90% of the agreement value depending on the loan size, and usually cap the EMI at roughly 40–50% of your net monthly income. The balance is your own contribution, so budget for it alongside the EMI.

Question 5

Are stamp duty and registration included in the loan?

Accepted Answer

No. In Maharashtra, stamp duty and registration charges are paid over and above the agreement value and are generally not funded by the home loan, so keep them aside in cash. GST applies on under-construction homes but not on ready, completed ones.

Question 6

Can Brickmake Realty help me arrange a home loan?

Accepted Answer

Yes. We help you compare rates and processing terms across leading banks and NBFCs, and we coordinate the documentation alongside your property transaction anywhere in Mumbai & MMR.

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