House Loan Articles

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Important Clauses to Check While Taking House loan
While taking a House loan, you should carefully read and understand the terms and conditions mentioned in the agreement. The loan agreement consists of a number of clauses. These clauses may or may not be in favour of the borrower. So, one should carefully go through all the clauses mentioned in the loan agreement in order to avoid falling in traps. Some of the possible clauses are mentioned below:Penalty for Prepayment of the House loan:Some banks mention a clause regarding prepayment of the loan before the agreed period of time. Some banks feel that prepayment of loan disturbs the cash f...

Understand the House Loan Process for a Fair Home Loan Decision
Home buying is undoubtedly a costly affair. Many a times we don’t have enough money to finance our house. Home loans provide the best financial support during such a time. But in order to suffice to our financial requirements, we sometimes rush into the decision of finalizing a home lender. This must be avoided at all costs because our relationship with the financial institution will go a long way. Therefore, we must choose the financial service company (HFC) or the bank that provides favourable terms and conditions. Instead of falling into the trap of an HFC, you must do your homework a...

The 3 Important Items before Getting a House Loan
After 8 months of searching for a new home, you finally settled on a wonderful three bedroom condo with great views of the mountains. Your offer was accepted and now it is time to get the mortgage to pay for the property. Here is what you must consider before settling on a house loan.If you have been pre-approved for a mortgage, which should be done before going into the negotiations on the property, then it is now a matter of locking in an interest rate that is acceptable in the long run. The mortgage application process can take as many as 90 days to complete. During that time, anything ca...

Rural Development Loan- Why to choose USDA loan?
You may have thought of buying a house. In most cases, the homebuyers look for loan to purchase the house easily. However, the loan programs are of various types, and it is better to choose the right one. Nowadays, lots of Americans try to buy a house, located outside of the highly populated regions. For these rural residents in the USA, USDA loan can be of utmost help. With the help of this financing option, they can easily acquire the home ownership in the desired area. This Rural Development Loan is intended to give you several benefits that may not be achieved with the conventional loan....

Calculating Loan Installments with an Emi calculator home loan
What is an EMI?Whether you apply for a car loan, home loan or a personal loan, you have to pay an Equated Monthly Installment. To calculate the monthly payments accurately, people use an EMI calculator. Soon after you decide to apply for a loan, you need to research on available types of loans in the market. Today, financial institutions and banks in India offer all different kinds of loans to fulfill different property buying needs of the residents. As you avail advance cash from the banks to buy your dream house or car, it is clear that you have to pay the borrowed money back. Further, you...

Use of Home Loan Eligibility Calculator in Deciding the Loan Amount
In today’s time, a Home Loan has rightly emerged as a modern-day viable financial medium to help home buyers fulfil their dream of purchasing their dream home.Yes, depending on your Home Loan eligibility, you can borrow money as high as Rs.20 lakh to Rs.10 or more as per your lender’s terms. That’ where if you are mulling a home purchase with a housing loan, being loan eligible is the first thing to do!Also, if you are unsure of a House Loan amount that you can borrow, you need to discover your loan eligibility. For that, using a Home Loan eligibility calculator could be ...

House loan interest can determine your loan eligibility.
Whenever we talk about home loans, the home loan interest rate often establishes itself to be the determining factor for your taking the loan and for financers giving the loan. Your EMI affordability determines your home loan eligibility; as it depends on your monthly income. And the EMI comprises of the principal loan amount, interest rates and loan tenure. The financers can give you the money only when they are sure of your capability to carry the loan term smoothly as a borrower. When we think about the home loan interest rates we are stuck to only the types, but there are various other fac...

Get Home loan rates impact your home loan...
Owning a house or additional property is a far-fetch dream for many people. The ever rising cost of real estate has been a major contributor for being an obstacle for a customer for investing in properties. But property offered by leading banks and finances companies has been the preferred financial solution product that will help a consumer to easily fulfill their dream of buying a house. Several products are available in the market at customer’s service. But it’s important to consider factors like Home loan rates, flexible repayment options, processing fees, etc. before opting fo...

House Loans Interest Rates - Loans at Lower Interest Rate
Perhaps, people who are desperate to purchase or construct a new house will definitely do it this time. Opportunity is knocking at your door and you just need to welcome it.Bank has just declared that the state owned bank decided to reduce its prime lending rate to a great extent i.e. by 75 basis points from November 10, 2008. But, the Banks have already cut their lending rates. However, Banks are yet to cut off the lending rates.The oriental Bank of Commerce has cut its lending rate on home loans up to Rs. 30 lacs. The Bank has also reduced its lending rate on education loan. Of course, t...

House Loan Interest Rates - Deciding When to Apply
The home equity loan interest rate that is available when you are thinking about applying for a loan should be a serious consideration in whether or not you choose to get the loan. If however you have financial needs that force you to take out a loan, take the time to review the important factors that impact the rate before choosing a particular lender. A small change in percentage points on the loan can make a significant dollar difference.Defining the TermsThe amount of home equity is the amount of cash you would receive if you sold the home at market value and paid off the existing mort...

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