Home loans are an excellent way to fund the purchase of a property, especially now when property prices are higher than ever and it is almost impossible for buyers to pay the entire cost of a home in one go. Majority of homebuyers opt for a home loan. However, not everyone gets approved for a home loan. Lenders do not want to lend money to … Continue reading 5 Easy Ways to Enhance Your CIBIL Score
These days, most buyers opt for a home loan to help them buy the home of their dream. A home loan allows borrowers to invest in real estate now, i.e. before the property prices peak further, and repay the loan over a period in the form of EMIs. Based on one’s income and prior commitments, a buyer can play around with loan tenor to ensure … Continue reading 8 Ways to Have the Best Home Loan Experience
Borrowers purchasing a new property must pay stamp duty charges on all property transactions under Section 3 of the Indian Stamp Act, 1899. Under the same section, the borrowers are also required to pay registration charges. The government uses these charges to authenticate the property purchase as well as maintain a record of all the property-related transactions. The stamp duty is paid to the state … Continue reading What Are the Rates and Fees for Stamp Duty on a Property Purchase?
Stamp duty is a charge that every borrower must pay when purchasing a property, and it is payable to the state government. Paying the charge validates your purchase, serves as proof of ownership, and is a legal document that can be used in court. It is critical that you pay this fee as soon as possible because you will not be able to obtain full … Continue reading Easy Way to Calculate your Stamp Duty Charges Online
Those planning to buy a home must avail of a home loan to fund their purchase. Home loans allow borrowers to keep their savings safe for a rainy day and still be able to afford the home of their dream. Further, home loans come with home loan tax benefits that allow borrowers to save a lot of money over the tenor of the loan. The … Continue reading Important Factors Impacting Interest Rate of Home Loan
When lenders lend money to borrowers, they charge interest. Similarly, when the Reserve Bank of India lends money to lenders, the central government of the country also charges interest. This interest is known as the Repo Rate. Repo is the abbreviated form of Repurchasing Option. While we are on the topic of repo rate, let us clarify the meaning of Reverse Repo Rate. Reverse Repo … Continue reading Repo Rate Meaning and its Effect on Home Loan
Before we get to the different property types to avail of a mortgage loan, let us understand what is a mortgage loan. A mortgage loan is a type of secured loan under which a borrower pledges their residential or commercial property as collateral in return for loan money. Since these loans are secured in nature, mortgage loan interest rates tend to be on the lower … Continue reading Different Types of Loan Against Property and their Workings
What is a loan against property? A loan against property is a secured loan in which the borrower pledges their residential or commercial property to a lender such as a bank or an NBFC in order to obtain a large sum of money. The funds received from a loan against property have no end use restrictions, allowing the borrower to use them for any purpose, … Continue reading Know how Property loan EMI works in a Better Way
Those planning to apply for a housing loan must make sure they are not borrowing more than they can afford to repay. A home loan is a type of secured loan. Borrowers use the loan money to buy a flat or home and this property serves as collateral. In case the borrower defaults on loan repayment, the lender can sell the property for loan recovery. … Continue reading Easy to Calculate EMIs with Home Loan EMI Calculator
Those planning to apply for a housing loan must make sure they are not borrowing more than they can afford to repay. A home loan is a type of secured loan. Borrowers use the loan money to buy a flat or home and this property serves as collateral. In case the borrower defaults on loan repayment, the lender can sell the property for loan recovery. … Continue reading Easy to Calculate EMIs with Home Loan EMI Calculator
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