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All about a composite loan!
Sahil, a software engineer in Mohali (Punjab), intends to purchase a plot of land and build his dream house on it within 3 years. The price of land is Rs.50 lacs and he wants to spend another Rs.35-40...
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Top 5 mistakes to avoid when you take a home loan!
Borrowing a loan requires careful planning and analysis. When you take a home loan, this becomes all the more important, since the commitment is for a long term. You may end up paying more or getting...
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Is this a good time to opt for a home loan?
Manish and his wife Parul working with a media company in Bangalore have been looking to book their dream home. High real estate prices and high interest rates have always made their decision to take a...
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Terms for adding co-applicants in a home loan!
Co-applicants in a home loan!You can apply for a home loan either as a single applicant or along with another borrower as a co-applicant. A co-applicant for a home loan indicates a person who applies...
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What is interim security in home loans?
Home loan CollateralAs property values are sky rocketing in the metros and other Tier 2 cities of the country, taking a home loan has become a Hobson’s choice for most buyers. Banks advance 80%-85% of...
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Understanding your loan parameters!
EMI Calculation You need to know the loan amount, processing fee and the interest rate of your car loan, home loan or personal loan. If you plan to prepay your loan, then figure out the exact or...
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Applying for a home loan after 45? Things you should keep in mind
The home loan puzzleWhen you apply for a home loan after you are 45, you will not enjoy the maximum tenure benefit as in the case of other borrowers. Assume you decide to apply for the loan when you...
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Fixed or floating interest rate: Which is ideal for your home loan now?
Interest Rate“To be or not to be, that is the question” said Shakespeare in his play Hamlet. The same could very well be considered true when it comes to selecting home loan interest rates. Ravi and...
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5 unexpected reasons for your home loan rejection!
Home loan processApplying for a home loan may seem to be a good idea if you are looking forward to buy the home of your dreams. You have all the qualities that make you a favourable home loan applicant...
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