Applying for a home loan may seem to be a good idea if you are looking forward to buy the home of your dreams. You have all the qualities that make you a favourable home loan applicant such as good credit history and strong professional background, still to your utter surprise, your application gets rejected. Don’t… Read More »
When you apply for a home loan after you are 45, you will not enjoy the maximum tenure benefit as in the case of other borrowers. Assume you decide to apply for the loan when you are 45, and your retirement age is 60 years, then the maximum tenure the bank may be willing to… Read More »
EMI Calculation You need to know the loan amount, processing fee and the interest rate of your car loan, home loan or personal loan. If you plan to prepay your loan, then figure out the exact or approximate amount you intend to prepay and the periodicity of such payments depending on your loan agreement. Use… Read More »
As property values are sky rocketing in the metros and other Tier 2 cities of the country, taking a home loan has become a Hobson’s choice for most buyers. Banks advance 80%-85% of the property value in the form of a home loan, depending on the borrower’s individual borrowing eligibility. As in the case of… Read More »
Second mortgage loans or second mortgage financing, as the name suggests, means providing a loan against the security of a property which has already been mortgaged elsewhere. This means that the same property is being used for a second time to secure a new loan. For example, Mr. X wishes to purchase a property for… Read More »
Personal loan allows you to borrow money for almost all your requirements. You can use the funds for a dream vacation, home renovation, medical treatment, or a wedding in your family. Since a personal loan is given for any lawful purpose, it gives you a helping hand for meeting all your personal desires. Before you… Read More »
Borrowing a loan requires careful planning and analysis. When you take a home loan, this becomes all the more important, since the commitment is for a long term. You may end up paying more or getting inefficient service if you choose the wrong scheme or bank for your home loan. There are many mistakes committed… Read More »
Getting a home loan approved isn’t just about applying; it’s about meeting the lender’s eligibility criteria. Factors like your income, credit score, existing debts, and financial stability play a crucial role in determining how much you can borrow. To improve your eligibility, maintain a good credit score, reduce outstanding debts, and ensure a steady income.… Read More »
An education loan is structured very differently compared to other loans from banks. As it is a loan which is used to fund education, the repayment of the principal of this loan begins after the student completes his education. This is unlike other loans, where both the principal and the interest amounts are repaid from… Read More »
When in need of urgent cash many people resort to taking cash advance from their credit cards. It is interesting to note that unless the outstanding amount is settled in time the credit cards charge up to 45% interest on annual basis on the unpaid amount till such time the dues are cleared. This… Read More »