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shradhamahadik

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Why EMI’s are better than house rents?

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After spending years in a rented house and paying the monthly rent, at least once you have thought that it’s better to pay the EMIs for your own home. Home loans are available easily nowadays at lower rates compared to other loans. Whether you are salaried, self-employed or NRI, loan to purchase your own home is available from many financers. All you need as a borrower is a stable job with quality income for paying the EMIs in time and a good credit score. Select the property you want to buy from a reliable builder chain; it would be easier if you select your financer first. They generally have the government & municipality approved builders in their affiliation. Once you have selected the financer and property, set your credit score ...

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What are the Advantages of a Loan against home?

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A Loan against home is one of the most convenient type of loan available in the market. Although there are various avenues of availing cash, a loan against home or lap is probably the best option there is, especially when you want large funds for: -   expanding your business -   Higher education -   Wedding expenses -   purchasing large equipments and machinery -   buying a property (commercial / residential) -   closing off other high cost loans There are so many different reasons you might want to use your money for, point here is to have an easy access to it, as and when you need it. Although the convenience aspect cannot be questioned, there is the concern that the interest rates for borrowing against your ...

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Interest rate the other important things

Lower interest rates often urge you to take the home loan to buy the home you cherish for. It’s a relative theory: Lower the interest rate less will be the amount you pay in addition to the principal amount of the loan. Numerous lending organizations in the market give the loan amount at varying interest rates. Your plan is to end up buying the home you cherish at a price you can afford. This is possible only when you select your lender diligently from the available banks and non banking financial companies. Different institutes vary from each other in their terms and conditions, repayment flexibility and most importantly the rate of interest at which they offer the loan.You get tax benefit on the interest you pay. Under the umbrella of housing loan interest rates, three variants...

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Better to invest in EMI than rent

Traditional lenders had made lending money at high interest rate in a short time a schadenfreude business. With those bitter experiences from the past, individuals preferred to skip the essentials than counter a lender. But today’s scenario is totally different, you can dare to purchase a beautiful home by taking a loan. Home loan is the kind of loan provided by the financial organizations to the borrower for purchasing an already/under construction flat/ home, a plot of land or renovating/re-constructing an old structure. The lending institutes provide the loan amount at competitive rate of interest for a stipulated time. The borrower can be an Indian resident or NRI; he/she can be a salaried or self employed person. There are several organizations in the market that have come u...

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6 Home Loans Tips before Applying

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Applying for home loans could be dreadful, particularly on the off chance that you are a first-time home purchaser. There's a considerable measure of printed material and indulgent preparing included. Yet at the same time, it is justified regardless of your exertion. This far reaching contract aide will walk you through the way toward securing financing for your home and make you feel that applying for a home loan is not that horrible all things considered. 1. Know about them Lender or Broker? There are two approaches to apply for a home loan. To start with, you can manage a loan specialist or home loan organization straightforwardly. Second, you can procure a home loan representative who will help you look over an assortment of moneylenders. Most homebuyers think that its less dema...

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Why is housing loan interest rate an important factor for finances?

As there are developments in the real estate sector, the price of the houses is also on a hike in the past two decades.  Home loans have become an indispensable part of the modern society and the economy.  This is because large investment of money comes into picture and there is lot of paperwork associated.  It is pretty impossible just to buy a house on the savings of a person.  There are various tools that allow you to anticipate and calculate the amount of money you need to borrow in order to fund your buying of the house.  In addition the amount that gets availed for an individual is also different. The principal loan amount can be availed on different factors like the monthly income of the person, fixed monthly obligation, current age and retirement age...

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How is the home loan interest rate a deciding factor?

There has been a lot of change in the real sector in the recent past.  The houses are packed with amenities and the prices of these houses have been rising continuously since the recent past.  Every individual wants to own a house which is near to the prime location.  Whenever you take a home loan it is necessary to take in to consideration the certain factors that are related with your home loan.  The tenure of the repayment, the home loan interest rate, the principal loan amount is the factors that need to be studied at that time.  Home loans which are given by various lending institutions.  The home loan interest rates range between 9-10%, with a mere processing fee of 1-2 % if the loan amount.  Hence, the easy and affordable housing loans have be...

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