Important Things You need to know before you apply for Home Loan

Important Things You need to know before you apply for Home Loan
Important Things You need to know before you apply for Home Loan

Financial institutions offer Home Loans and Loan Against Property at floating rate of interest. From time to time they also offer fixed rate for Home Loans and Loan Against Property for specific loan tenures.

Floating rate loans are linked normally to financial institutions 3 month Marginal Cost of Fund based Lending Rate (MCLR), which will published regularly on their website. Any change in 3 month Marginal Cost of Fund based Lending Rate (MCLR) will impact the interest rate on your loan. This will have a corresponding impact on your Equated Monthly Instalment (EMI) and/or loan tenure depending on respective financial institutions / bank’s prevailing policy. Please check the home loan related policy carefully for interest rate calculations and EMI calculations

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InCredFinance.com is a cutting edge technology enabled financial services blog focussing on Small and Medium Enterprise Loans (SME Loans), Personal Loans ( Consumer Loans), Home Loans (Housing Loans) and Education Loans ( Study Loans). We strive to provide relevant information about the loans, whom to approach for the loans for your needs, requirements to fulfil the loans etc. InCredFinance.com is an independent blog which provides usefull insights about Small and Medium Enterprise Loans, Personal Loans, Home Loans and Education Loans and have no connections or similarities with any of the financial institutions in India or abroad. The term incredfinance.com came from the thoughts that incredible India needs incredible people, process and finance to build the nation for a stronger and prosper tomorrow. The power of consumer to lend capital from financial institutions for the dream project is the key towards the growth of successful future!

11 thoughts on “Important Things You need to know before you apply for Home Loan

  1. Greetings! Very useful advice in this particular post!
    It is the little changes that will make the greatest changes.

    Thanks a lot for sharing!

  2. Is there any good home loan calculator available? would like to buy one flat in Mumbai. Need to take a home loan also , which are the best options available in the market now .

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