Housing Loan Know everything Related to It
What is Housing Loan? • Loan offered to individuals who wish to buy or construct a house or a Flat. • The property is mortgaged to the lender as a security till the repayment of the loan. • The bank or financial institution will hold the title or deed to the property till the loan has been paid back with the interest due for it.
Why one should take a home loan? • The process of selling of your house becomes easier • Add discipline in his financial life. • One can avail benefits in Tax • If your spouse is a co-applicant in the loan, both of you can double your tax benefits.
Top Housing Loan Providers in India • SBI Home Loan • HDFC Ltd • PNB Home Loan • LIC Housing • ICICI Bank • Axis Bank • IDBI Home Loan
Always do your homework before taking home loans • Research well on all the options available • Check your capability. Never borrow more than you can’t afford. Take a look at EMI first • Read the final print of home loan agreement deeply and carefully • Take insurance cover for the home loan • Educate yourself about the additional charges that the lenders add to the current schemes. Never leave a doubt: Always ask