In this concluding part, of the home buying series, I clarify all that you need to know about home loans from application till final disbursement. While choosing your lender, keeping in mind the basics such as interest rates and effective cost of the loan is essential. Let us now have a look at the steps involved … Continue reading Part 2- Guide to Buying Your First Home
Home loan providers offer a myriad of loans that are designed to fulfill the diverse needs of home buyers. But, before opting for the right one, it is important to understand the most integral part of any loan, and that is, it’s EMI. So what is this EMI and how is it calculated? Let me … Continue reading Understanding your Home Loan Equated Monthly Installments
At some stage in life, many of us often face this dilemma- is it better to take the plunge and buy our own home, or should we just rent one? The “EMI versus rent” debate has been going on for quite some time. Where on one side financial advisers propagate home buying as an ideal … Continue reading Buying Versus Renting a Home- Which Is a Better Option?
When buying an under construction home, developers often seek payment on the basis of the stages of construction completed. Catering to such requirements, Home Finance Companies (HFC), facilitate partial disbursements of the sanctioned loan periodically, in tune with the developers demands. For these partial loan disbursements, a borrower would be required to pay what is … Continue reading Pre-EMI for Under Construction Properties
It’s time again and almost all shops and malls have lined up discount sales. From home appliances to the latest gizmos, this season sure is the perfect time to spend that extra bit. But how do you handle your financial liquidity at such times? How do you settle credit card dues post all the shopping? … Continue reading EMIs on Credit Cards
Having a loan, does expose you to the risk of not being able to fulfill the required obligations. An extra bit of expense secures your debt and gives you and your family the peace of mind that the asset would remain with you. If you have a high value and a long term debt, it is strongly advised to opt for a mortage protection plan. On the other hand, if you already possess sufficient term insurance or life cover, check to see if an additional plan would actually be required. Your family should be able to repay all debts as well as lead their lives ahead, in case anything were to happen to you.