How will the higher repo rate affect the EMIs on your house loan?

The Reserve Bank of India (RBI) charges a repo rate when lending money to commercial banks. The repo rate influences the interest rate on home loans because it tells banks to boost their interest rates. Equated Monthly Installments (EMIs) for borrowers also rise as the interest rate on house loans does.

Tips for reducing taxes on a joint home loan – Tax Guide

All co-owners are eligible for the tax advantages connected with the solidarity mortgage under specific circumstances. Let’s look at it. All joint owners are eligible for the joint mortgage tax rebate. It should be emphasized that real estate tax advantages need “ownership” of the property. Even if you cosigned for the loan, you could not […]

Is it a good idea to pay off a house loan early?

Not only is owning a home the biggest ambition of our lives, but it is also without a doubt one of the most significant financial chores in our lives. Paying off your mortgage early is one of the most creative methods to save money. To reduce your home loan‘s interest payments, you can prepay the […]

Who can be co-applicants on a joint home loan?

If you wish to take out a house loan, enlisting a co-applicant is a good idea because shouldering the financial burden alone for 15-20 years might be difficult. You may be financially secure now, but because a house loan is a long-term commitment, you must be future-oriented and prepare properly. This is especially important now, […]

Home loan applications will soon be paperless.

Have you ever considered using a paperless procedure to obtain a house loan? If not, then this can become a possibility now. With digitalisation, various crucial papers, such as credit score and borrowers’ data, have made the system transparent. Further digitization of paperwork might pave way for hundred percent paperless financing for house loans. we  […]

Realtors anticipate a positive influence on house demand from rising home loan rates!

According to the real estate sector, the RBI’s decision to increase the repo charge may have a little short-term impact on housing demand and a potential increase in home loan interest rates. Many developers predicted an increase in house costs due to rising financing costs for builders. In response to concerns about inflation, the RBI […]

A guide to home loan refinance!

1. Determine if you need to refinance. There are various reasons to consider refinancing, from receiving a higher interest rate to remodeling or expanding, from buying an investment property to debt consolidation. However, you should always determine whether refinancing makes financial sense before deciding to negotiate with a new lender.

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