Home Loan

A home is something more than a mere dwelling. You are emotionally attached to your home and an important asset which you usually buy from your lifelong savings and hard earned money. Since there may be chances that you can't afford to buy homes in a lifetime due to high cost of real estate thus the need for Home loan arises and it becomes imperative that you opt for the best home loan option so that you do not end up making yourself trapped in a debt burden of high interest rates. In order to facilitate the process of loan and help you build a house, we provide you with the comparative analysis of the sources of funds from where you can opt for home loans as there are a number of home loan providers in India to choose from. People sometimes have difficulty in distinguishing between the different home loans that are available. It is a tough task to decide which home loan is right for you. Hence, FREE FINANCE provides you the comparison of home loan.

Taking a home loan is a boon to every person it solves the money problem which occurs while purchasing a home. If you are planning to go for the home loan, it is strictly advices to go through the bank schemes and the terms and conditions of the financial institution.

Points to be kept in mind before opting for a home loan:

 Most financial institution opts for marketing techniques to attract more customers giving only selective information. Please read carefully the loan terms, charges and any information, if not clear, better to ask the concerned executive or banks.

 EMI- First off all you will have to calculate how much amount do you require. Before proceeding the application, calculate your monthly income and expenses. If you are unable to pay the fixed monthly EMI, you are charged with a fine or penalty from the banks.

 Bargaining on Interest. - When you apply for a loan you are allowed to bargain with banks to reduce the rate of interest. Some banks reduces the rate of interest on the basis points. You should apply for the loan once your property deal is on the final stage. Some banks are having a target of distribution of loans, in case you apply for the loan in last week of the month, you might get a good deal from the bank.

 Think on loan tenure- You need to focus on some basic points, if you are opting for the home loan. Some important basic points are defined below-

 Job appraisal, Job transfer, Job change, you take loan for a short tenure, your EMI will be high. Some experts advise your loan should be finished when you retire.

 Increase your loan eligibility- Your loan eligibility is dependent on your previous credit history like your credit card, personal loan, or other loans payments made by you. You have to pay your existing loan EMI and other payments on time, it’s a very vital record to get loan easier.

 When you are opting for the home loan, please note some points i.e., processing fees, service charges administrative charges, technical fees. After some time you will re-schedule of home loans banks charged for that again.

 Read the loan agreement carefully before signing the document.

The features & advantages of home loan are as follows.
 Easy repayment option-10 to 30 Years
 Easy repayment by ECS
 Very low rate of interest
 Instant Loan approval
 Loan up to Rs. 5 Crore. According to your needs
 Maximum eligibility of your income
 Doorstep document pickup facility
 Minimum Documentation