Home Loans

New home buyers often get confused about whether they should apply for a loan from a housing finance company (HFC) or a bank. The liquidity crisis brought about by the Covid-19 pandemic has hit the non-banking finance companies (NBFCs) hard.

A home is a lifetime investment for many in India. So, the buyer wants to ensure that the house they buy meets all their requirements - convenience, location, size, quality of materials used and more.

A home loan is the only option for many of us to fund our dream home. Shopping for the best home loan in the market is a meticulous process. The current home loan market is very competitive and most banks offer similar interest rates.

As consumers, we take different types of loans at different stages in life and for different needs. Whether it is a mortgage loan for buying a home, an auto loan for buying a vehicle, or a personal loan, most loans have two aspects in common

In a massive relief to individual and MSME borrowers, the Union Government has announced a waiver of the compound interest incurred by loans during the moratorium period from March to August.

Home loans are one of the biggest financial commitments made by an individual. Owning a house is a dream for most and this is why home loans are very popular in the loan market. With the availability of multiple home-loan providers in the market, today the borrower is the king.

Home loan refinancing is not always the best idea, even when interest rates are low and friends and colleagues are talking about who fetched the lowest interest rate. Before you begin the long process of gathering pay stubs and bank statements, think about why you are refinancing.

Home loans are undoubtedly one of the biggest debts that individuals will pay in their lifetime. The size of an average home loan is 30 lakhs or more and extends for 10 to 30 years. Generally, home loans are repaid in the form of monthly EMIs.

Home refinancing is the process of replacing an existing home loan with a new loan. Normally, people refinance their home loan to reduce their monthly payments, lower their interest rate, or change their loan program from an adjustable-rate home loan to a fixed-rate home loan.

Home loans are one of the biggest financial burdens for an individual in his/her life. It’s a long-term loan that ranges, on an average, from ten to thirty years. Besides the principal, a home loan EMI also includes the interest component.

One frequent question among home loan borrowers is, "Can I refinance my home loan with bad credit?" The short answer is – of course, you can, but it may be difficult. For the long explanation on how to refinance a home mortgage when your credit scores are not that good, continue reading below.

On 27th March 2020, the Reserve Bank of India reduced the repo rate by 75 bps (basis points) as a measure to protect the economy from the ravaging impacts of the Coronavirus lockdown.

A large number of existing home loan borrowers in India switch their ongoing loans to new lenders to enjoy a reduction in interest rates and consequently, lowering on the home loan EMIs.

Refinancing a home loan could help you lower the interest rates, thereby reducing your EMIs and overall loan burden. But, ultimately the decision whether you should opt for a home loan transfer is a personal decision.

While buying a home, it is easy to notice that there are many forms of costs that become a part of the entire process.

You have a stable income, pay your credit card bills and loan EMIs on time, and boast a good enough credit score.

A line of credit (LOC) is an open-ended loan which can have multiple uses. It is a kind of revolving loan that is somewhat similar to a credit card.

You are looking to purchase your dream home. After rounds of selection, you have finally found the ideal place that ticks all the requirements of your dream home.

Home Loans Vs. Home Construction Loans: Which should you choose?

One can be faced with the need for emergency funds at any time. That is what asset management is for. Your assets are your fallback plan in case of emergency. In India house property is an important part of asset management. It is for such emergencies that elders always insist on acquiring a housing property.

The home is where the heart is! This statement holds true and that is why everyone likes to own a beautiful home, with the best fittings and interiors, etc. Many a time it so happens that while going in for home individuals like to be on the conservative end due to the exorbitant cost of owning a home that they do not factor in the cost for the home beautification.  The need for beautification or improving a home may also come up a few years down the line, after the purchase of the house.