List Your Site Instantly
Home Loan Offers - 5 New Ways to Get Your Dream Home
Posted by anuragmishra on December 13th, 2016
If you are living with a perception that home loan offers in India come only in two flavors-fixed or floating, it’s time to wake up to the reality. Keeping pace with global developments and in a race to stay ahead in the fiercely competitive home loan market, banks and Housing Finance Companies (HFC,s) have come up with innovative schemes, which provide a lot of options to a new home loan borrower. So, if you are worried about getting a home loan offers, read on; the banks might have something special for you.
- Fixed rate or floating? Why not both the classic dilemma to go for a fixed loan or a floating loan has perplexed the average home loan borrower since ages. Volumes have been written over the advantage one has over the other and this has only added to the confusion. Taking advantage of the situation, banks have started a home loan offers scheme, which offers the flexibility to choose a home loan offers with both the floating and fixed interest rate options. A borrower can choose a part of his home loan to be charged at a fixed rate of interest and the rest at floating rates and vice versa.
- Tempted by the current fixed interest rates? Choose Smart fix The unprecedented rise in floating rate home loan offers in recent years has prompted many borrowers to rethink their strategy in favor of the fixed rate home loans. If you are also one of those, who wants to take advantage of the relatively low fixed rates, but agrees with the universal opinion that floating rates are best over a long period of time, you can choose a special type of home loan offers, which charges the fixed interest rates for a specified period (say 3 years) and floating rate thereafter. Aptly called smart fix by some banks, this home loan offers scheme lets you have the best of both.
- Need a bigger home? Go for a short term bridging loan If you are dissatisfied with your existing home for any reason what so ever, and desperately want a bigger or better house, but do not want to sell your existing house before you move into the new one, a short term bridging loan can be the perfect solution. This loan fills the vital gap and provides an interim arrangement of finances between the sale of your old house and purchase of the new property. These loans can be repaid in easy installments or by a lump sum payments after you sell the old house.
- Can't afford big EMI's now but can do it in future? Choose step-up repayment Off late the banks and hfc's have awaken to the fact that income levels of individuals rise as their career progresses and this improves their repayment capacity over a period of time. Hence, they have decided to offer, what is called a home loan offers with step-up repayment facility. This special home loan offers scheme provides the facility to fix the EMIs at a lower level during initial stages of the home loan and increase with tenure. Some banks even waive the principal repayment component of EMI for the initial period. So, if you are a young professional or have spent few years in a job and can convince your lender with a visible career growth, a home loan offers with step-up repayment facility might be the panacea.
- Can afford big EMI's now but not later? Choose step-down repayment Consider a situation, where a couple has taken a joint home loan in India and one of them is set to retire in few years. This can create a tricky situation, when it comes to the home loan repayment, since the repayment capacity of one of the borrowers will decline after his retirement. A home loan with a step- down repayment plan can go a long way keeping troubles at bay in such a scenario. The couple can choose to repay higher EMI's during the initial stages of home loan offers, when both of them are earning and when one of them retires, the burden of EMI's can be lessened so that the repayment schedule is still maintained diligently.
This is definitely not an exhaustive list of such schemes, banks and HFC's are regularly churning out innovative schemes, which cater to specific circumstances and help widen their home loan offers with client base. Every such home loan scheme has its own advantages and disadvantages. Any home loan borrower must definitely shop around, compare home loan rates and gather as much information on terms and conditions of the home loan scheme so that he is able to take an informed decision.
Home Loan Offers - 5 New Ways to Get Your Dream Home
If you are living with a perception that home loan offers in India come only in two flavors-fixed or floating, it’s time to wake up to the reality. Keeping pace with global developments and in a race to stay ahead in the fiercely competitive home loan market, banks and Housing Finance Companies (HFC,s) have come up with innovative schemes, which provid...
Buy your dream car with new car loan or used car loan
Everyone wants to own their car. The convenience of owning your own vehicle is so much that you simply have to buy a car. It is true that Australia has a strong public transport system in place but you don’t really like to depend on it all the time. When you are coming back from a party late at night you always like to drive back in your own car. It do...
Get your Dream Home With easy Home Loan OptionsAlso See: Loan Offers, Home Loan, Home Loans, Up Repayment, Repayment, Offers, Loan
These easy loan options have helped many recover out of this position before, and this time too it is not going to be an exception. Moreover, in certain positions, there are usually not much option available at the hand of a man except opting for a loan to recover. Among the many loans available everywhere one chooses for the one that offers best interest an...
Top Searches - Trending Searches - New Articles - Top Articles - Trending Articles - Featured Articles - Top Members
Developed by Interfuse - Copyright © 2010 - 2018 Uberant.com