Home Loan

‘Home loans’ and ‘home top-up loans’ are very popular terms. Well, the purpose and meaning of both are very different. If you are a homeowner you probably know it well. For people new to borrowing, you need to have a good idea about the difference between a home loan and a home top-up loan. Once you are aware of the differences, it becomes easy to choose and process them. Therefore, let us discuss the differences between both and understand what they actually mean. It helps with an informed decision especially for the ones taking a fast home loan in the future. What is a home loan? A home loan is a rigid purpose loan that is taken to purchase a home and nothing else. It is a secured form of loan that can be recovered from the property itself if the homeowner defaults. The rate of interest and charges are low if one meets the eligibility and gets proper research done in order to find the right loan provider. Home loan eligibility and documentation is a strict one due to the amount...

Indeed, a home loan is a huge burden or rather one can say a financial commitment for years to come. The huge value involved for almost 20 to 30 years can become a burden in the future. If you end up taking 100% or 90% of the property price as a home loan, it will be a huge amount of debt on you for a good number of years. The EMI becomes a fixed obligation that you need to pay, whether you are earning or not in the future. It is always necessary to take time before you think of investing in a home loan. A home loan is undoubtedly the best way to get home, but you can always reduce the amount of burden on you. Here are some of the best ways by which you can reduce the home loan burden. ●     Get an affordable loan: Yes, this works for sure. You need an affordable loan for your sanity and financial stability. When you get an affordable loan your EMI will get reduced and it will be manageable for you. By affordable loan means your hidden charges, fees, and rate of intere...

Clauses in a home loan are part and parcel of a home loan. You need to know every bit of the important clauses that will help you choose the right loan provider. When you know all the clauses, it becomes very important for you to work out a home loan . If you are buying a home for the first time, it is important to know how a home loan works. Home loan repayment is done through an EMI scheme that is paid every month. The entire principal loan amount is divided into equal monthly installments added to the rate of interest and then repaid every month on a fixed date. The EMI is paid to repay the loan, and the borrower should choose an ideal EMI amount based on the ability to repay by calculating the same with a home loan EMI calculator . When you borrow, you must keep in mind the amount of money you are eligible to repay, to have a clean track record. The home loan rate of interest varies from 6.5% to 15%. The rate of interest that you get will depend upon your credit eligibility. I...

Partners that borrow together, stay together. It is the time to borrow along with your partner, so that you can work on your credit history well, as well as bag some good perks and benefits of having a Joint Home loan. This is how a family works. If you feel you are not eligible or stable enough to have a home loan alone, you can apply for a joint home loan. A joint home loan is getting a lot of prominences all over the country with a lot of people opting for it. If you need a home loan, home renovation loan , or house repair loan with your partner, you need to know what it is and why it can be a good option for you. What is a joint home loan? A joint home loan is when there are two borrowers for one particular loan. A home loan is a high-value loan so to avoid risk, there can be two borrowers for one particular loan. A joint home loan is one where you can take your partner along for borrowing. This is an ideal option if you are not having good credit eligibility or high income ,...

A home is not just the roof over your head, but a lot more than that. It is very fulfilling, but the key is funding. It needs a good source of funds to get your home renovated into a new and better one. If you feel taking a portion of your income will affect all other expenses, you can surely go for a home renovation loan. It is working well for all those that need to improve their shelter and get the best comfort instantly. A home renovation loan is a great option and has various perks and benefits for choosing it over any other type of debt. If you are looking out for a home renovation loan or easy home loan , you need to know everything about it. What is a home renovation loan? A home renovation loan is a type of debt that helps you to get your home renovation done. A sum of money is sanctioned and you can use the fund for any kind of expense that is related to your home. You can go for construction, extension, painting, fitting, or any kind of innovation done to your home. It...

Buying your dream house is very perplexing. It includes the stress of organising your wishes for your new dream home while also bringing the deal on your current one to a close, and the entire cycle can feel stressful and burdensome. The good  news is you have alternatives. When you already have a home and you want a new one, you need to choose various sorts of easy home loans that can help you meet your need to purchase a new home. The bridge home loan is very beneficial Some of the time, your dream home is found even before you are prepared. If it is important for you to track the new home without having your present home shut down, a home bridge loan should be the arrangement. As a bridge joins the gap between two pieces of land together, a bridge loan covers the gap in time between two different home loans. It can be done in various ways, and there are two instances where it is applicable. Two home loans: When you have two home loans that are bridging gaps, it will be h...