BUSINESS
Explained: Loan against property and how to get the best of it
Opting for a longer tenure reduces the monthly outgo, and is better suited for those with lower repayment capacity and who want higher loan amounts.
BUSINESS
Why a down payment corpus is just as important when taking a home loan
Since there is a limit to the loan amount lenders can offer, home buyers will have to contribute 10-25% of the acquisition cost on their own. It is always better to invest early to build such a corpus. While doing so, there are certain dos and don’ts to be followed.
BUSINESS
It’s good to prepay your home loan. Just weigh in your options, first.
While the EMI reduction option would result in higher disposable income for the borrower, opting for the tenure reduction option would result in higher savings in overall interest cost.
BUSINESS
Managing home loans during a rising interest rate regime
Home loan lenders allow borrowers to prepay their entire outstanding balance or part of it. On making prepayments, borrowers can either opt for EMI reduction or tenure reduction.
BUSINESS
Planning to take a home loan? Check these four points to see if you are ready
Higher down-payments have better chances of home loan approval, usually at lower interest rates
BUSINESS
How to leverage your property to raise a loan at low rates
Lenders usually provide 50-70 percent of the property’s market value as loan
BUSINESS
Joint home loan application: For higher amounts and increased tax benefits
As the income of the co-applicant is also considered while evaluating EMI affordability, it can also help you get a bigger loan amount
BUSINESS
Despite RBI’s status quo on interest rates, here are 4 ways to reduce your home loan EMIs
Opting for a longer repayment tenure would reduce your EMI burden and also improve your home loan eligibility
BUSINESS
Home loan transfer: Factors to consider before shifting lenders
Falling interest rates on home loans have prompted many borrowers to shift lenders. Here are some key factors to consider before doing so
