Prepayment of home loan

As in any interest rate scenario, many people who have home loans are considering whether or not it is recommended to prepayment of home loans to incur lower EMI payments going forward. Let’s have a look at what is a prepayment of loan is all about and how does it work. One should consider various facts about home loans. What is the prepayment of a home loan? When an individual decides to pay an additional (over and above your regular EMIs) amount of principal of your loan before the time [...]

By |2020-10-13T11:48:42+00:00November 18th, 2017|Home Loan|0 Comments

Home Loan Benefits

The home loan comes with multiple tax benefits, some of which you might not even be aware of! These deductions not only reduce your tax outgo but also help in managing your cash flow better. Looking for ways to determine which tax deductions are available to you as a home loan borrower before taking a loan can hugely help you. Bank and financial institutions also provide special Home loan benefits to women as well. Home Loan Benefits Deduction on interest under Section 24 of the Income Tax Act Section 24 [...]

By |2021-01-07T12:25:52+00:00November 8th, 2017|Home Loan|0 Comments

Home loan for NRI

While the guidelines which are to be followed by an NRI to apply for a home loan are the same as those for the resident Indians, but certain terms differ for the former. Home Loan for Non-Resident of India NRIs are however allowed to buy any property or any plot both for commercial or for residential use. However, Agricultural land Plantation property, and The farmhouse is thus not permissible unless there is any specific consent from the RBI. If the borrower has shortlisted a property and he wants to approach a [...]

By |2020-10-09T06:51:06+00:00November 6th, 2017|Home Loan|0 Comments

CIBIL score for home loan application

If you are planning to take a home loan to buy a property either now or in the future, you should know by now that maintaining a good CIBIL score is considered to be of utmost importance. With the RBI having made the CIBIL score assessment mandatory. Even there are various effects of credit score on the home loans. Most of the commercial banks in India are unlikely to consider the people with a low CIBIL score which is below 750 out of 900 for a home loan. In case your CIBIL score [...]

By |2020-10-13T11:45:12+00:00November 6th, 2017|Home Loan|0 Comments

Documents for Home Loan

The article will tell us about  5 incredible facts which the borrower must ask his banker before taking a home loan. Before applying for a home loan borrowers should know everything about the home loans. Documents needed for Home Loan Applicant Documents required Salaried Self Employed Application Form Signed with Photograph Signed with Photograph Identity Proof PAN card Driving License Aadhaar card Voter id Government-issued i-card PAN card Driving Licence Aadhaar card Voter id Government-issued i-card Address Proof Passport Driving license Election id card Electricity bill Telephone bill Bank [...]

By |2020-10-09T05:20:01+00:00November 6th, 2017|Home Loan|0 Comments

Home Loan Eligibility Criteria

The lender will consider The current liabilities Assets, and The income. If the mortgage requirement is marginally higher than what the borrower is eligible for Small changes in the way he projects himself as an applicant may help in increasing the eligibility. A good civil score for a home loan increases the chances for the borrower to get the home loan. How to increase eligibility criteria for Home Loan Clear your existing loans The borrower should look out for those nagging credit card loans or the personal loans that he took [...]

By |2020-10-09T11:38:18+00:00November 6th, 2017|Home Loan|0 Comments

Cheap Home Loan Rates

If we apply for a home loan, even a 5 paisa negotiation would thus make us feel happy. For instance, the joy of getting the home loan at a rate of 9.95% instead of 10% is immense. This article, however, tells us about the 13 things which the borrower should avoid against the cheap home loan rates. Cheap Home Loan Rates Mandatory insurance Insuring yourself or property is not considered a bad idea, which can also be the case when a home loan. The clients like to buy insurance products that are beneficial [...]

By |2020-10-09T05:12:28+00:00November 6th, 2017|Home Loan|0 Comments

Home Loan Rejection

When a home loan application says "no", the borrower should read it and "try again". It is the responsibility of the borrower to mention all the details which should be true and correct. And this article will tell you what to do after your application gets rejected. What to do after the rejection of the home loan application? Go through the details The letter that is issued by the lender for conveying the loan denial which would most probably be a generic one. Try to understand the reason for rejection. If the [...]

By |2020-10-09T11:33:24+00:00November 6th, 2017|Home Loan|0 Comments

5 ways to spot a Home Loan scam

For any of the salaried individuals, a home loan is thus considered to be a very important decision and a person takes every step cautiously while he secures a home loan. The borrower always looks for the best deals and the offers to avail of a home loan. On the internet, the messages are thus they even replete with all the coordinates of the contact person who is thus more often than not a super salesman! One can apply for a home loan online after going through all the information of your [...]

By |2020-10-09T05:25:38+00:00November 4th, 2017|Home Loan|0 Comments

Home loan for land

Every person wants to acquire a piece of land. However, there are many hurdles in obtaining land and getting a loan for land. Building a new house or a property can be appealing but there are few factors to consider before buying land or getting a land loan. Factor Influence land loan Fundamentals of land The first step is to properly plan on what the potential purchase entails. It is important for every buyer to get its boundaries marked by the people who do a survey and to have everything [...]

By |2020-10-09T08:34:55+00:00November 4th, 2017|Home Loan|0 Comments
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