• Home Loan BYTES FROM OUR KITCHEN

    Home Loan Tips

    TIP OF THE DAY

    • TIP 1#

      Research: When you are looking for a home loan, spend some time on research. With so many banks and other financial institutions offering home loan products, it’s important to have a clear picture of various deals that are available in the market. Never overlook small banks and financial institutions; they might offer you a better deal in comparison to their larger counterparts.

    • TIP 2#

      Fixed or floating interest rate: Banks offer two types of interest rates – fixed and floating. While the fixed interest rate loans maintain a fixed interest, floating interest rate loans have interest rates that keep fluctuating in line with the market conditions. Make sure you understand the ups and downs of both the types of interest rates. If you are someone who prefers stability over risk, you should go for a fixed rate loan. On the other hand, if you can take risks and expect interest rates to decline in future, you can go for a floating rate loan.

    • TIP 3#

      Fees and charges: Read the fine print of your home loan agreement before signing up. This will help you understand your home loan demands thoroughly. You will uncover various fees and charges that you were not aware of. Such charges may include loan processing charges, late payment charges, annual charges, early repayment charges, etc.

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