BUSINESS
Year-ender 2024: Home loan borrowers burdened with high interest rates can expect relief in 2025
Expected changes in interest rates, continued government support for affordable housing, and technological advancements in the loan process could provide much-needed relief to home loan borrowers in the coming year.
BUSINESS
Applying for a home loan in India? Here is what NRIs need to know
Home Loans for NRIs: While opting for NRI home loans in India, it is important to understand that the interest rates applied will be slightly higher. Also, repayment should be done only through an NRI account.
BUSINESS
Home loans: How banks evaluate your proposals
Your credit score, down payment and debt-to-income ratio are among the metrics used by banks to decide whether you can repay the loan or not. .
BUSINESS
India’s middle-class and the EMI conundrum: 4-step guide to reducing the home loan burden
Here are some ways in which housing loan borrowers can reduce their EMI burden ― increase the down payment, prepay the home loan, and switch your lender, among others.
BUSINESS
Four ways to shorten your home loan approval time
Assess your EMI affordability before applying for a home loan, make a higher downpayment, and improve your credit score.
BUSINESS
Securing a home loan liability: Home loan insurance or term policy?
The main difference is that home loan insurance covers property, while a term policy covers a person’s life
BUSINESS
Buried in debt and a loan to repay? Here’s a way out
Paying off extra EMIs when you get a bonus to talking to your bank to reduce your home loan burden during festive occasion offers can work in your favour
BUSINESS
Applying for a home loan at 45? Here's how you can make it work financially
Opting for a joint home loan with your spouse or your working children can help increase your loan eligibility
BUSINESS
Planning to take a home loan? Consider these three factors to decide the tenure
Home loans with lower tenure must be opted for by those in their 50s or nearing their retirement
BUSINESS
Prepay home loan or invest in equity? Here’s help in deciding what to do with your festive bonus
The extra money in hand will allow you some liquidity. However, if you are nearing your retirement age, it is better to prepay and be free of liabilities
BUSINESS
Selling a house that has a home loan on it? Have these documents in order
You must start by seeking a No Objection Certificate (NOC) from your lender on the selling agreement
BUSINESS
Don't have a credit score? Your education and job profile can still get you a home loan
A good degree, high salary, regularity in making investments and prudent spending habits can help you get a loan even without a credit score
BUSINESS
Why credit scores alone may not be the best way to assess loan borrowers
While the credit score helps gauge the risk based on credit history, credit mix, payment history, and new debt if any, it offers no help in appraising the repayment capability of first-time loan applicants
BUSINESS
Why there is nothing constant about fixed interest rate home loans
The fixed rates chosen would be valid only for the first few years, after which borrowers will have to repay the home loans at the revised interest rates
