List of Home Loan Articles

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.