Tips on taking home loan. Review on Taking a Home Loan

Today I will share my experience and tips about taking home loan. Present time everyone do not have sufficient about to purchase a house hence to full fill their dream there are more lenders in india who are ready to pay home loan on various terms and conditions.please find below some tips which should be asked from the lender to ensure that you get the best home loan offer.

1)do not take loan more than as per your paying limit:-take only that amount which can easily pay. Your home loan amount should not be more than 50 percent your monthly income.

2)analysis of market&research:-before taking loan from the bank do not go as per the loan agents.so do analysis of the best term and conditions available in the market.

3)rate of interest:-do not chase the cheapest rate of interest.you should compare all the lenders offer.cheapest interest is not best deal so look beyond it.

4)keep tenure as short as possible :- the maximum home loan offered by all major lenders.the longer the tenure the lowear is the EMI, which makes it very tempting to go for 25-30 year loan.always try to take home loan for short period because in long period the interest rate will go high.

5)knowledge about floating and fixed interest:-there are two type of interest that many bank offer.first is floating interest which is linked with market.second is fixed interest remains fixed for few months defined in the loan agreement.

I hope this tips will help you to taking home loan.thanks