4 Factors That Can Affect Home Loan Interest Rates

 While home loan interest rates in 2021 have been reduced to their historic lowest, there are several factors that borrowers must account for to enjoy a minimal cost of borrowing.A host of parameters are taken into consideration which are calculating the home loan interest rate. Given that it is one of the biggest financial commitments that you would be making in your life, it would help you to get the most out of a home loan if you are aware...

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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...

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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...

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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...

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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...

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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...

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Know Everything About the Home Loan Eligibility

The home loan is a handy solution to help you avail an amount as per your eligibility to buy your dream home. But not many people are unaware of the home loan eligibility inside out. Hence, when they apply, their home loan applications are rejected. It is where this short post may help you as it discusses the home loan eligibility!Standard home loan eligibility at a glance You need to be a resident citizen of India. Your age should...

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Will Shifting Home Loan to Repo Linked Loan Reduce EMI?

 The home loan is a unique funding option that lets you get the required amount to buy your own home. However, the home loan is a long-term commitment. And it demands adequate planning from borrowers so that the repayment happens easily. Before and after availing the home loan, borrowers resort to various ways to repay lower house loan EMI. They do that so that they are able to save enough to meet other monetary needs. By going...

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Myths to Ignore While Getting a Home Loan

Many people may have the required eligibility to apply for the home loan, but they still don’t apply for it. Other than facing different issues, they also don’t do that owing to some home loan myths. Let’s check them out in today’s post so that you can ignore them and apply for the housing finance confidently!Shorter loan tenure is good Yes, when you avail shorter loan tenure, then it means saving on the home loan interest rates. But...

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Know What is top up on a Home Loan

 Have you ever wondered what the top up loan is? If you are carrying the home loan balance transfer, then you can meet your multiple needs with top-up loans. The top-up loan is a financial facility that is given to borrowers opting for the loan balance transfer. If you want to know about top-up loan, then this post is for you!What is the home top-up loan?If you want to switch your home loan account from one lender to another offering a...

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