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4 Mistakes Home Loan Applicants Must Avoid

May 26, 2022 Carolina Herrera

For the majority of Indians, house loans are an indispensable means of accomplishing their ambition of having a home. However, given the large loan amounts and more extended payback terms, it is critical to have a solid financial strategy and prevent mistakes when applying for a property purchase loan. Borrowing without adequate research can be detrimental to your financial well-being and may result in your loan application being rejected. Mentioned below are some of the mistakes that loan applicants must avoid while applying for a loan. Mistakes Home Loan Applicants…

Smart ways to reduce home loan interest rates:

July 28, 2021July 28, 2021 Alison Lurie

The home loans are usually charged interest rates of 6-9% per annum to the borrower. However, some lenders may charge interest rates higher than 9% per annum. The loans thus availed are available for a tenure of 30 years maximum, while the actual eligibility of the loan’s tenure may vary according to the borrower’s age. The interest rates on home loans are on a continuous decline due to a fall in the RBI repo rate. The bank charges a penalty to the borrower on the installments if the payment is…