When you are applying for a home loan then there are many questions that come to your mind but there are top 5 queries that we must ask the lender. Let us discuss those essential questions.
We all know if we look to our past then we are standing for hours in queues for visiting banks or any NBFC but now time changed we are not supposed to wait for everything available online which is directly proportional to our doorstep. Every year institutes become smart and competition arises, so these queries we must solve before availing home loans.
Interest Rate comparison: This is the step for a borrower that you must know the comparison rate of interest rate because every lender has their own condition and interest rate they offer. Get a better picture of various interest rates and choose the best one.
Repayment options: You should be aware of the repayment options that are available when you borrow money from the lender. Check that they are offering frequency change in between of the loan repayment tenure. You can check your EMIs before availing loan through Home loan calculator and make plans according to that.
Documentation: Different lenders have different needs in terms of documentation and who provide hassle free documentation.
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