Monday, April 16, 2018

As a prospective borrower, what are the terms you should be generally aware about in the housing finance field in India?

Author: Sachin Gupta | Find me on Twitter

Continuing in our series of home finance, in previous article, we noticed the shortage of housing in India and the role that Home finance companies can play to plug this housing shortage gap. In this article, we will explore the various terminologies used in home finance such as types of home loans, pre-payment charges, processing fee, secured/unsecured loan, rate of interest, insurance, pre-approved loans, etc. The idea is to equip you with basic yet important terms used in home loan process. Therefore, whenever, you decide to go for the home loan to purchase property, it is advisable to quickly go through the following document.

Not only will this hold you in good position to bargain for lower interest rates with the bank but it will also help you to understand various charges that are incurred while procuring home loans. Home loans as described in the document below can be availed for purposes such as buying a property, construction, land purchase, etc. Irrespective of the type of home loan one is going for, it make sense to compare the various loan options from different banks.




Having understood the various terminologies used in the home loan process, we hope that you will make an informed decision.

Thanks


Have any Questions?

26 comments:

  1. I really like this blog about real estate in India.Thanks for sharing with us great blog.
    New Residential Project in Bhiwadi

    ReplyDelete
  2. one point i think u missed is to mention about OMBUDSMAN which is the place where consumer must go for if bank charges any undisclosed charges on loans.

    ReplyDelete
  3. Thanks for sharing. If you are looking for an Apartment in gurgaon than go for EMAAR MGF THE PALM DRIVE. It is a good place to invest.

    ReplyDelete
  4. Thanks for sharing this set of instructions. Really informative.
    Flats in Mumbai & Thane

    ReplyDelete
  5. Thank you so much for sharing such an informative blog. Finding property in Delhi NCR either it is residential or commercial is not so difficult now. MakRealtors is here to solve your problems. It provides 3BHK, 4BHK, 5BHK, Kothi, Bungalows etc. at best budget. MakReltors is a Commercial Real Estate Dealer in South Delhi as well as Residential Real Estate Dealer.

    ReplyDelete
  6. As if one purchase the apartment is located near the highway, it means area away of pollutions and congestions. You can find most luxurious and affordable apartment in Ferozepur highway, its location perfectly suited for people who love nature and greenery including world-class amenities and splendid ambiance.

    ReplyDelete
  7. Finstem’s Florizel Villas in Mysore are fully furnished designer Villas with world class amenities offering five star services that provide a lifestyle that is relaxing and luxurious. It enables friends and family to holiday together indulging in extravagance with concierge services.

    ReplyDelete
  8. Thank you so much for sharing such an informative blog. Finding property in Delhi NCR either it is residential or commercial is not so difficult now. MakRealtors is

    here to solve your problems. It provides 3BHK, 4BHK, 5BHK, Kothi, Bungalows etc.
    3 BHK Flats in South Delhi
    3 BHK Flats for rent in South Delhi
    4 BHK Flats in South Delhi
    2 BHK Flats in South Delhi
    farmhouse in South Delhi

    ReplyDelete
  9. Real Estate in Dhanbad - Buy, Sell and Rent Best Residential Properties in Dhanbad by Real Property owners, Dealers, Builders by Finsteminfra.

    ReplyDelete
  10. We offer effective washing machine repair services at Repairwala Center. No matter, it quickly and in a cost-effective fashion Prize. We understand on your washing machine and how important it is to be able to get your laundry done in the comfort of your own home. And when you call on us, we'll respond quickly so that you're not kept waiting. It's all part of our pledge to provide the service and professionalism you deserve.

    ReplyDelete
  11. Valuable information shared through your blog. Keep updating.
    Best Builders in Chennai

    ReplyDelete
  12. Great info. I love all the posts, I really enjoyed, I would like more information about this, because it is very nice., Thanks for sharing...
    ambience creacions floor plan

    ReplyDelete
  13. Be careful not to overprice your home, price your home right. Over-pricing when selling affordable apartments on Ferozepur highway reduces the buyer interest. Find out the market price of other flats in Ferozepur highway similar to yours and correctly price your house.

    ReplyDelete
  14. Sivani Developers Visakhapatnam
    very helpful post thank you for sharing with us ....Thanks for sharing such a useful information.. For more details about best builders in vizag, visit this website.

    ReplyDelete
  15. Shreyas Enterprises home loans in Vizag
    Shreyas Enterprises Vizag is engaged in offering Home Loans to the clients In Visakhapatnam. A crew of experienced personnels works with enthusiasm for rendering best services

    ReplyDelete
  16. Shreyas Enterprises home loans in Vizag

    Shreyas Enterprises Vizag is engaged in offering Home Loans to the clients In Visakhapatnam. A crew of experienced personnels
    works with enthusiasm for rendering best services

    ReplyDelete
  17. We provide best escorts services in Dehradun to spend with hot and sexy call girls in Dehradun. Choose a beautiful independent call girl and get the best experience in your life!
    http://www.dehradunangel.com/

    ReplyDelete
  18. Pilgrimage Tour Operators organized annually by travel operators have been rescheduled to Thursday instead of Wednesdays in line with the new weekend days recently introduced by the government.

    ReplyDelete
  19. For the best and professional Jaipur escorts services, you are welcome to my web page where you will find everything of my own to know better about me and my company. I am feeling endowed to see you here. I am pleased and excited to give you if you are looking for powerful and incredible fulfillment and fulfillment. Visit: http://www.adajaipur.com/
    Jaipur Escorts
    Jaipur Escorts Service
    Escorts in Jaipur
    Jaipur Call Girls

    ReplyDelete