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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.
If you are planning to take a home loan to buy your own dream home, you better do you homework right, else you would end up paying much more than you had bargained for, apart from the EMI.
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 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.
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.
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.
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.
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.
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.
Invest wise with Expert advice
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