Indore Realty At By Pass

Taking a Home Loan - Consider Below factors - (3 mins Read).

1. Your Monthly disposable Income - Maximum you should commit 50-60% of your income towards your home loan EMI.

2. Value of the property - Mostly banks can finance upto 80% of the market value of the property.

3. Rate of interest - Choosing between fixed and floating rates of interest can be confusing sometimes, in the current scenario where Modiji wants everybody to have their homes, floating rates seems to be the best option.

4. Loan Tenure - Short loan tenure of around 15 Years are better than long tenures of 20-30 years.

5. Pre-payment facility and foreclosure charges - Easy pre payment facility and Nil foreclousure charges must be considered and to be opt for.

6. Hidden Charges - knowing in the beginning for any hidden charges saves you from extra tension.