List of Home Loan Articles

A home loan is often the only financially viable method for a person to fund major purchases like a house. It also offers significant tax benefits to borrowers.

Before you jump the gun and panic thinking that you must pay off your home loan as soon as you can, or at least think about a refinance option for your home loan, take a closer look at your financial plan. See the number of investments you have and the returns they are yielding.

Taking a House is once in a life time decision for many of us with the spiraling prices of the property and the high interest rate regime in the market.

Firstly, the loan is still in your name, so your credit rating is at stake. Secondly, go with builders who have a track record of delivering projects on time. Else, you could end up with a huge cost on your shoulders.

An applicant must present a variety of documents that verify their KYC, the antecedents of the property they seek to acquire, their income background, etc. in order to secure a house loan.

A good credit score is paramount in the home loan application process. In India, the CIBIL score is widely used to measure creditworthiness. In this article, we will delve into the significance of the CIBIL score for a home loan and determine the ideal score that lenders seek.

A home loan sanction letter is issued by a bank or financial institution to an applicant who has applied for the loan. The letter is a proof that the applicant is eligible to avail a certain amount of home loan from its lender (bank or financial institution) subject to the fulfillment of certain terms and conditions as mentioned by the lender.

The base rate, or prior probability, refers to the initial likelihood of an event occurring before considering additional information or data. It represents the fundamental probability of an event based solely on historical data or general knowledge without considering specific conditions or supplementary factors.

A home loan is often the only financially viable method for a person to fund major purchases like a house. It also offers significant tax benefits to borrowers.

There is a strong sense of relief and pride that one achieves in paying off a home loan and officially calling the property theirs. With the recent announcement by the RBI and NHB extending the elimination of prepayment charges for home loan foreclosure, home loan borrowers have been further encouraged to pay off their mortgages before the end of the tenure.

Before you jump the gun and panic thinking that you must pay off your home loan as soon as you can, or at least think about a refinance option for your home loan, take a closer look at your financial plan. See the number of investments you have and the returns they are yielding.

Banks and non-banking finance companies provide home loans at fixed or floating interest rates. One should understand the initial contrasts between these two loan kinds. However, to do this, one should compare fixed vs floating interest rate and consider them both.

While numerous factors contribute to the hike in real estate prices, there is one significant factor, known as “ready reckoner rate” that has a bigger part in deciding the movement of real estate prices.

Buying a home is an important lifetime decision. It not only impacts your family's sense of security but also impacts your long term financial goals. After all, nobody buys apartments cash down. While you do put in a small margin, nearly 80-85% of the cost of the apartment is financed with home loan.