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A home is a home whether it is bought in resale or from a builder. Likewise, many loan borrowers are of the opinion that a home loan is a home loan whether it is taken on a resale property or from the builder. From their perspective, there exists no difference in going for a home …
COVID-19, the new Chinese virus that gutted almost 160 countries worldwide is making news headlines these days in all newspapers, media channels across the nation and worldwide. The virus havoc devastated, disrupting the lifelines of the countries causing a direct impact on the nation’s economy. New cases are being reported per day and the number …
It is the new product in the home loan industry. The name itself suggests- where a mortgage loan is given in the form of overdraft facility it is termed as “Mortgage O/D”. It is also referred to as the “LAP O/D” product in the home loan industry. (LAP stands for Loan Against Property). The product is …
Looking for a land loan? Here it is everything that you should know about – before purchasing land and before going for a land loan. To build a dream house of your own with your specifications and requirements with modern amenities along with gardening, lawn with a swing char, duplex bungalow with 5 bedrooms, indoor …
In general people may refer purchasing a new home or a land as buying a new property, but the loans taken for purchasing the two significantly differ with each other. Though in broad they may be referred as property loan and both may seem similar to many, there exist differences between the two- home loan …
Defining NRI We all know that NRI stands for Non-Resident Indian. But the official definition of NRI as per India’s Foreign Exchange Management Act 1999 (FEMA) defines NRI as, “an Indian citizen or Foreign National of Indian Origin resident outside India for purposes of employment, carrying on business or vocation in circumstances as would indicate …
With a change in the economic conditions & inflation the RBI alters the Repo rates for the banks. A reduction in the repo rates carries well news in itself for all home loan borrowers while even a slightest increase in the repo rates pinches the pockets of the borrowers. This is because the banks in …
One fine morning you wake up to read the newspaper and found pamphlet advertising – buy a luxurious apartment & captioned in bold “EMI starts only on possession”. You are happy to read and consider this as an opportunity to save money thinking this is a flexibility offered by the lender. The advertisement tactics is so impressive that …
COSTS Associated with Home Loan. Introduction:- Buying a home is the dream of all and is the necessity which is also defined as the basic requirement of the human being along with food and clothing. Therefore to buy this shelter people spend their life savings and many choose to go for borrowed funds with convenient …
While it is easier to get a loan within the city limits falling inMahanagarpalika, funding your house in grampanchayat for home loan in Mumbai becomes equally difficult for the home loan seekers. Mumbai is the city of dreams and is the home for cores of population. Over the period Mumbai has substantially widened geographically to …