Know How to Deal with Hiked Home Loan Rates With Calm

 Home loan interest rate is determined based on the current market scenario. For instance, RBI controls the repo rate that further influences this rate. On top of that, lenders add their spread, and finally, a rate is proposed to borrowers. Thus, individuals who want to get rid of fluctuating home loan interest rates can adopt the following measures. Part-payment Individuals can make full use of the surplus cash if they have to...

Read More

These Factors are Going to Affect Your Home Loan Interest Rates

 Housing loan interest plays a crucial role in determining the cost of borrowing. Thus, it is imperative for borrowers to know the factors that may affect the home loan interest rates. Following are some of them. Loan amount Generally, lenders charge higher interest on borrowing a significant loan amount. Since the interest rates vary with lenders, borrowers need to compare financial institutions to get the best deal. Moreover, they can also opt for a substantial down payment to reduce their EMI component. Interest type Home...

Read More

Are you worried about the EMIs? Follow this Guide to Manage your Home Loan EMIs

 Availing a home loan from HFCs has become convenient, thanks to relaxed eligibility criteria. Borrowers searching for a substantial fund to purchase a residence or invest in home construction can apply for a home loan. Nonetheless, EMI repayment and interest payment is a monthly exertion.This repayment burden can be tackled efficiently by employing specific ways for healthy savings. Individuals can compare different lenders in the market and opt for the competitive interest rate to reduce home loan EMI amounts.Tips to reduce the EMI repayments...

Read More

When is the Ideal Time for Refinancing Home Loan

 When a borrower has an active home loan, EMIs of such credit are categorised under regular liabilities. Due to its long-term repayment, home loan refinancing is an option, which many borrowers tend to explore. A home loan balance transfer can reduce one’s liabilities effectively by reducing the amount of interest charged on the outstanding principal amount.What does a home loan balance transfer mean?The home loan balance transfer involves transferring...

Read More

Factors that may Determine you Choose the Right Home Loan Tenure

 Home loan presents a convenient way to purchase a house. On the other hand, they are a long term financial commitment as well. It requires careful planning and execution to repay a housing loan without any default. Typically, home loan tenure ranges between 18-20 years, and in some cases, it can go beyond that as well.Therefore, it requires you to prepare, and you can consider the following facts before choosing your home loan tenure.3...

Read More