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Home Loans

Home Loans - Find easy loan for your housing needs from HDFC - A Housing Loan Finance Company. Get lowest interest rates & instant e-approval on home Loans<br>

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Home Loans

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  1. Home Loans

  2. Peace of mind: How to save money on your home loans?

  3. Home loans are long term commitments with your lender and can cause a significant amount of stress. Before taking a loan of this nature, you must be completely sure that you can make the timely monthly payments. However, there is no reason to live in fear of the time frame. We have listed five methods by which you can save money while you repay your home loan:

  4. Take note of your CIBIL score and CIBIL report: • Your CIBIL score is very important and you must make sure that you have not availed of any credit at least six months ahead of applying for a home loan. • Read the fine print : • Make sure that when you are shopping for home loans, you study each and every aspect of it before committing yourself. With the holiday and festive seasons coming around the corner, it is quite common for banks and lenders to entice the customers with lower rates and impressive deals.

  5. 3 Negotiate: • When the application for your loan is approved, you will be assigned a loan officer who will be your point of contact till you receive your first cheque or the amount is transferred into your bank account. • 4 Make a higher down payment: • The fact that you are interested in a mortgage would entail that you have been saving money for quite some time till now. When making your down payment, try to make it as large as possible even if it means that you would be stretching yourself further than your means at the time.

  6. 5 Pay the same EMI even if the interest rate is falling. • The central bank made quite a few heads turn by an untimely rate cut which would mean that anyone on a floating rate of interest would need to pay a lower EMI amount. • Managing your funds and cutting back on expenses is something that will no doubt become a necessity in these times, but by following the home loans hacks we have listed above, the burden and stress home loans place on you will be greatly reduced. Source: https://www.indiabullshomeloans.com/blog/peace-of-mind-how-to-save-money-on-your-home-loans/

  7. Click to know more on Home Loans https://www.hdfc.com

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