Home Loans Are Offered By The Housing Finance Companies (Hfcs) And Banks
are offered by the Housing Finance Companies (HFCs) and banks. These HFC?s/bank?s offers home loan for buying a house either from the developer ? built, un-built or under construction or from a second owner or for the improvement and renovation of the existing building structure.
With so many private and public sector banks, as well as HFC?s willing to lend a helping hand through home loans, for consumers the wide choices available in home loan market has resulted in state of confusion. It has become extremely difficult for a consumer to strike the best home loan deal.
In order to apply for a home loan and avail the same, certain factors like eligibility criteria, documentation required etc. has to be considered, and of course one must know about some home loan tips before applying for Home Loan. The important home loan tips includes eligibility, amount of home loan, types of interest, tenure of interest, the documents required, rate of interest for home loan, and even disbursal of home loans.
At present private banks like Axis Bank is offering Home loans at 14% fixed and 8.75-9.25% floating. On the other hand public sector banks like SBI is offering home loan at 8% fixed for first year and thereafter floating at 8.25%. Among HFC?s, DHFL is offering home loans at 8.25% to 8.75%. These interest rates are at present prevailing in the home loan market. For consumers, one has to make the choice of interest rates best suited for him as the interest rate along with principal amount decides the EMI for the home loan.
There are also other factors which need to be considered while taking a home loan. These factors can ultimately decide whether you save or shell out on those extra bucks while taking a home loan. These factors/charges include processing fees, prepayment charges, part payment charges, switching charges etc. Home Loan borrowers have to be completely aware of these set of charges put forward by lender. To have complete knowledge about these charges it is important for a consumer to go through home loan documents carefully before finalizing the home loan deal. The borrower borrowing home loans can visit any of bank?s branches or their respective websites to have more information on home loans. Apart from this there are several finance related websites, which too can prove useful while borrowing home loans.
To know more information on Rupeetalk and home Loans feel free to visit : http://www.rupeetalk.com/home-loan-india <!? google_ad_section_end ?>
Ansh has been writing articles online for more than 3 years now. His specialty is in loan, finance and internet marketing. I write about things that matter to the business financial like loan, Personal loan, and health insurance! I focus on saving people money and writing on affordable niches. Website: http://www.rupeetalk.com
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