SBI Home Loan is most preferred among the borrowers. This is based on a study done by me during last 6 months. On my blog, i receive maximum queries on SBI Home Loan. Though i always take neutral approach and suggest options like SBI, ICICI Bank or Axis Bank to potential borrowers. I personally interacted with many borrowers to understand why they prefer SBI Home Loan. Through this post, i would like to share the experience of blog reader's on SBI Home Loan. Towards the end of the post, i have highlighted few cons/problems faced by my blog readers so that potential borrowers can make an ... Read More
Tips to Increase Home Loan Eligibility Amount
Home Loan Eligibility Amount is a nail-biting suspense during the home loan process. From buyer's perspective, it's some secret recipe or a sort of exam whose outcome is eagerly awaited. There are multiple factors which impact the Home Loan Eligibility Amount. Through my posts, i keep highlighting these factors which directly or indirectly impact the Home Loan Eligibility Amount. CIBIL Score is one such factor which i have covered in detail through my posts on CIBIL Score. In this post, we will discuss some tricks and tips through which you can increase the Home Loan Eligibility Amount. Though ... Read More
Home Loan from Housing Finance Company
Home Loan from Housing Finance Company, Regular readers of my website must be confused. I always suggest my readers to avail Home Loan from banks like State Bank of India, ICICI Bank, Axis Bank etc. The main reason is benchmark rate for calculation of Interest Rate. On the service front, almost everyone is at par i.e. below average :). Home Loan of Housing Finance Company is linked to benchmark rate known as BPLR / RPLR / PLR whereas Home Loan of a bank is linked to Base Rate. Base Rate is more transparent & beneficial for a borrower in a long run. I explained it in my post, Floating Home ... Read More
8 Ques You Should Ask Home Loan Provider
Home Loan Provider in India is normally finalized based on the reference or word of mouth. There is no harm in taking references or feedback from friends and family members. It helps in better decision-making. In most of the cases, it is the builder who decides Home Loan Provider of a buyer. He has vested interest in this entire process as builder receive cut or commission to promote particular Home Loan Provider. Secondly, he doesn't want you to initiate Title Search or Legal Check Process again. Some of the common tactics of the builder to pressurize buyer are Documentation, Payment ... Read More
How to find out Right Home Loan Amount?
What is Right Home Loan Amount?. There is no right or wrong answer to this question. Both under borrowing and over borrowing are dangerous for financial health of an individual. We cannot ignore this question because it directly impacts your interest outflow. Three important pillars of Home Loan are Monthly EMI, Home Loan Tenure and Home Loan Amount. All 3 are interlinked to each other. I have not included Interest Rate as Interest Rate is not in control of a Borrower and is fixed. EMI, Tenure and Home Loan Amount are variable and optimum mix can be calculated. To influence any of these, ... 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