- To get a home loan never try to make document or you might face serious problems in future.
- Avoid 3rd party loan agent and prefer direct bank home loan agents only.
- Prefer nationalise banks like SBI, Bank of India or better loan rates and clean process, or
you can perfer a home loan specialized bank like HDFC Home Loan Finance Ltd for a clean and quick process. - Pre-approved home loan gives an advantage while negotiating a home buying deal.
- Your home loan EMI should not be more than 40% of your take away(net) salary.
- Go for a longer home loan tenure(20 years+) as low EMI, rupee devaluation and property price appriciation over a period of time more benefitial.
- Try making home loan pre-payments as a part of your yearly investments as it reduces the home loan principal amount. Reducing loan EMI amount or loan period is optional and take what helps you the best.
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Sunday, August 28, 2011
Home Loan Tips
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The interest rates for borrowed capital may be fixed or floating/adjustable. Although the fixed interest rate normally remains unchanged throughout the tenure of the loan, sometimes such rate is adjustable after a certain period of time. For Low Doc Loans click here
ReplyDeleteHome loans play a vital role for an individual to balance his expenses after purchasing a property(home). We need to think and move forward when investing in a property using a loan. The tips mentioned in this post about the home loans are necessary and must be followed by an individual to make his life smooth after purchasing a house.
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