There are 2 kind of people i.e. Risk Taking and Risk Averse. Risk Taking people invest in Equity, Mutual Fund etc whereas Risk Averse people invest in FD's, NSC, Debt Instruments etc. Majority of Indians are Risk Averse as they would not like to part away with their hard earned money due to volatility. They prefer low return but risk free debt investment tools. In short, Risk Averse people don't like uncertainty and prefer assured, stable & predictive path. This is the reason, why debt instruments are more popular compared to equity. While availing Home Loan this majority class of Risk ... Read More
5 Myths about Pre-Approved Project
Pre-Approved Project is another Marketing gimmick from builders to lure buyers. Every third query from Home Loan seeker addressed to me is related to under construction Pre-Approved Project. Almost every related article on Internet highlight the advantages of availing Loan from a lender which has pre-approved project for Home Loan. Pre-Approved Project is nothing but a confirmation that specific Bank / HFC has verified the legal & technical documents of project and found them in order. Any buyer who apply for Home Loan through such Bank / HFC need not to again undergo legal verification ... Read More
Original Property Documents Lost by Bank
After Home Loan closure, the most shocking news for any borrower is that one of his original Property Documents Lost by Bank. On last Friday, one of my blog reader Mr. Amarnath Nagpal has gone through same trauma. He wrote a distress mail to me seeking my opinion on what to do next. He was called by his Home Loan Provider (One of reputed PSU bank) to collect his original Property Documents after he closed his Home Loan with the Bank. The situation is no different even if page/s are misplaced by the bank from most critical documents like Sale Deed, Sale Agreement etc. Once the document or ... Read More
Five Shocks of Home Loan Application
Life is full of Shocks so as Home Loan Application. Its a universal truth that Home Loan is most preferred source of funding to buy a property. Newspaper is full of Ads where banks are luring the customers by offering attractive Interest rates or waiving off Processing fees. Prime facie its look like child's play to avail Home Loan and buy your dream house but its not true. You can also check post on How to Buy House with Home Loan World is not so simple as it looks. The first step of buying a house through Home Loan is to apply for Home Loan & for that you need to submit Home Loan ... Read More
Home Loan Tax Benefit Deductions
For property purchase, Home Loan Tax benefits is the biggest motivator to avail home loan. In one of my previous post, i highlighted 5 Disadvantages of Home Loan. In this post, lets find out Home Loan Tax Benefits which can help you to take informed decision. As we know that Home loan EMI is basically divided into 2 parts i.e. Principal Repayment & Interest Payment. Home Loan Tax benefits are linked to these 2 components with differential tax treatment. Home Loan Principal Repayment The deduction for principal repayment can be availed under Section 80C of Income Tax Act. The ... Read More
5 Disadvantages of Home Loan
5 Disadvantages of Home Loan is quite unusual topic for my blog. I personally feel that any financial decision should not be biased and prejudice. We should look at both the aspects before arriving at final decision. Based on rough estimates, 80% residential real estate transactions in India are executed by availing Home Loan. For majority of Indians real estate affordability is major concern. At the same time there is no love lost for Real Estate & Gold. Home Loan is blessing in disguise for this section. Buying a property on Home Loan is a major financial decision and each financial ... Read More
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