Banks and other financial institutions provide temporary relief from high interest rates at a time when the economy is feeling the effects of inflationary pressures. Rebates on house loans have been announced by organisations like Bank of Maharashtra (BOM) and Bank of Baroda (BOB). Such plans give the real estate sector, which is struggling due […]
Tag Archives: Home Loan
Composite Loans vs. Plot Loans: Understanding the Key Differences!
Tags: Home LoanRealty Guide
Whether to opt for a composite loan or a plot loan depends on your specific needs and financial situation. Here’s an explanation of both types of loans:
Low CIBIL Score? No Problem! Tips for Securing a Home Loan
If you have a low CIBIL score and need a home loan, there are still options available to you. Here are some steps you can take to improve your chances of getting a home loan:
Loan Against Property: What You Need to Know Before Signing on the Dotted Line!
Taking a loan against property is a common way to raise funds for personal or business needs. However, it is important to keep in mind some key things before taking such a loan. Here are some things to remember:
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?
Tags: Home Loan
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?
Tags: Home LoanRealty Guide
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.
Tags: Home LoanRealty News
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!
Tags: Home Loan
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 […]
