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.

what is a reverse mortgage loan, how reverse mortgage loan works, eligibility criteria and key benefits and limitations, and if it pays to have a Reverse Mortgage Loan.

A home loan is a secured loan that is acquired for the purpose of buying a property by pledging the asset as security.

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.

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 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.

At its core, an equitable mortgage falls along the lines of a legal agreement that leverages your property's equitable interest as collateral for a loan. Unlike the more traditional form of mortgage, where the legal title of the property is transferred to the lender until the debt is repaid, an equitable mortgage retains the title with the borrower.

At times, borrowers may want to convert their home loan interest terms from a fixed to a floating rate or vice versa. Although a borrower may switch their interest rate terms as many times as they wish, there is a fee levied each time.

Balloon payment means that they are significant sums of the loan amount paid after the loan period. However, based on the loan's interest rate, the balloon payment's amount must be discounted at present value.

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.