By Sheetal Kumari | March 3, 2025
MC Markets | November 17
A higher credit score can help you get a lower interest rate.
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Compare rates across banks and housing finance companies.
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A longer tenure reduces EMI but increases total interest. A shorter tenure saves interest but raises monthly outgo.
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Check processing fees, legal charges, insurance and prepayment terms.
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Lenders calculate eligibility based on income, age and existing loans
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Home purchase, construction, plot plus construction, and home improvement loans have different rules and limits.
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Home purchase, construction, plot plus construction, and home improvement loans have different rules and limits.
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Banks usually fund up to 75–90% of the property value. You must arrange the remaining amount as a down payment.
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Carefully check clauses on penalties, prepayment, reset clause (for floating rate loans) and foreclosure rules.
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Ensure the property has all approvals.
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Missing EMIs affects your credit score and leads to penalties.
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Moneycontrol advises users to check with certified experts before taking any investment decisions.
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