Availing a home loan is a very important decision of our life because owning a home is like a dream come true. But before availing home loans there few basic questions arise in every borrower's mind. Let us discuss those questions.
- What is the comparison rate?
It is the initial step for the borrowers. He/she has to compare different loan charges from different lenders so that they can find the best lender for the home loan with a low rate of interest. It is like a wider picture of the fee process and also of EMIs.
- Best Interest Rate a lender can offer you?
When you are the new applicant for the home loan and you have a good credit score then the lender will give a honeymoon concession on the fee. This is very true that the mortgage industry is very competitive, so you have to research the best NBFCs or banks for the same.
- Repayment Options?
Most of the lenders provide various repayment options like PNB Housing Finance with a low rate of interest. It can be weekly, monthly. You should better ask the lender if we can change the frequency of the repayment of the loan. It's better to check the EMIs with the help of a home loan EMI calculator. It's a hassle-free process.
So, if you are thinking of applying for the home loan then keep these points in mind.
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