Originally Posted by
integreat
so I understand that "tenure" = amortization period, that is when the principal = 0
and
EMI = the monthly payment
It sounds like your lending institution is out to make some "points" on your mortgage.
Forget about the 13 month stuff and the floating rate etc and instead concentrate on the math behind a mortgage calculation. Anything beyond that is simply a loans officers wet dream. Lock in interest rate for 5 years at a time or even 10 if you can, and forget the high tech gobbly gook that is rampant in the financial world.
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