A home loan is a long-term financial commitment, but smart planning can help you make the most of it. Choosing the right lender, negotiating interest rates, and opting for prepayments can reduce your overall loan burden. Tax benefits under Sections 80C and 24(b) can also ease your repayment. A shorter loan tenure may increase EMIs but significantly lower interest payments. If possible, balance transfers to a lower-interest lender can be a game-changer. Regular EMI payments maintain your credit score, improving future loan eligibility. Consider partial prepayments whenever possible to reduce your principal faster. Proper financial planning ensures you get the maximum benefits while keeping your home loan stress-free.
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