Is it time to avail of a home loan & thereby take the prime step towards own dream house?
Fulfilling one’s own wish for a Flat in Rajarhat depends much on this, right? And you are already feeling stress over –
♦ Which rate of interest will be apt?
♦ Will I be able to manage the EMI plan?
& many alike questions in mind?
Push aside all confusions & draw own attention to the –
Proven Hacks Of Choosing A Fit Home Loan
#1 Rich Research
Possessing the apartment of desire will be one exclusive event of your life. So, preparation for that too requires special effort from your end, right?
Then gear up to:
◉ Check websites of reputed banks & finance companies for the latest home loan packages
◉ Gain first-hand information from a peer or relative about a particular plan of a particular lending body availed by the one
◉ Post a query at an online discussion platform like Quora by clearly mentioning the credit amount you plan to get; read every reply thoroughly & make a note about the pros & cons people are highlighting about certain schemes & lending organizations
◉ Keep an eye upon the fluctuating interest rate on housing loans on a daily basis
past this stage & when you are weighing between 3-4 plans get set for-
#2 Calculating Schemes Correctly
Another most important endeavor to fulfill – if to:
• Have the best possible bargain over a home loan
• And ensure that your essential monthly expenses are not compromised given to a high rate of interest
Keep a sufficient amount of time in hand & begin comparing the schemes you have shortlisted through a good digital loan calculator.
Cross-check every single element of each scheme beginning from:
♦ Interest rate to Processing Fee & Repo Rate
♦ Eligibility criteria to Tax cut-offs & Cash-Backs (if any)
Collect all the information together in a diary or Excel Sheet.
With the entire picture clearly in front, see how swiftly your mind picks the plan most suitable for you.
once deciding upon a definite home loan package, it’s the hour to-
# 3 Play Smart
And what’s that? Utilizing certain loan-specific perks to lower the interest rate & quicken the approval process.
As advises one customer-voted best bank for home loan:
♦ Try taking a joint loan with a female family member, since most top-ranking banks put forward noticeable reduction (as much as 50 basis points) in interest rates & remission of processing fees – when, in a Co-Loan scheme, one applicant is a woman
♦ If having a credit score above 700 or even more, bargain to the limit possible for lowering the rate of interest & speeding up approval
♦ Mention to the loan officer about the online platform from where you learned about the scheme– because discounts for digitally-referenced home loans often stay available at both banking & private lending organizations
# Also Attempt
To pick an EMI plan where the tenure is not higher than 20 years
Clearing any existing bank debts & thereby rising own FOIR or Fixed Obligation to Income Ratio to strengthen approval of your desirable loan plan
Is confidence in gaining an apt home loan plan now replacing your confusion? Why wait & not take the necessary step?
As for selecting your own sweet home among the exclusive Flats in Rajarhat, Realtech Nirman stays ready to guide you perfectly.
