5 Reasons to Buy Your Dream Home This Festive Season

Most people buy a home during the festive season as it is considered auspicious. Another reason for people to wait so long to strike a deal is the discounts and offers by... Read more »

Discover FHA Refinance and Its Advantages

Are you having a difficult time paying for your house or car right now? If you are, you might consider getting a refinance. Refinancing is a better idea to pay off all... Read more »

Home Loans – All You Want To Know Rules and Rates

Buying your own home is one of the most crucial financial decisions you will ever take. As a property purchaser, you are most likely to avail a home loan. You don’t want... Read more »
Home Loan Rejection

Your Home Loan Can Be Rejected On These Five Grounds

Buying one’s own house is many people’s dream. After all, buying a house is perhaps the costliest and therefore, the most important decision one can make in his/her life. There will or... Read more »
Home Loan Rejection

Home Loan To Get More Expensive As Housing Finance Companies Raise Lending Rates

Major lenders like HDFC, PNB Housing Finance have raised their home loan ratios by up to 20 basis points (bps) and 25 bps respectively. This move has made home loan rates more... Read more »

SBI Home Loan Interest Rate Increased

SBI home loan interest rate has been increased by 5 basis points recently. This is due to the increased marginal cost of funds-based lending rates (MCLR) by up to 25 basis points... Read more »
Home Loan Rejection

6 Things To Remember While Closing Home Loan

While owning a house is a dream of most of us, not everyone is fortunate enough to have sufficient funds to buy it. Those who can’t arrange enough funds, rely on home loans... Read more »

Home Loan Saver Account Help Cut Home Loan Interest Costs

If you are a Home loan borrower or planning to take one then this article may be a great help for you. Buying a house is a dream of lakhs of people... Read more »

What To Do When Your Bank Pushes You To Buy Insurance Policy Along With Home Loan?

Apart from daily banking activities, today bank have started selling other financial products like ULIP’s or insurance policies. It is been observed that banks are trying all kind of fair and unfair... Read more »

SBI : Get Your Home Loan Sanctioned Online

State Bank of India (SBI), India’s no. 1 lender is now working hard to increase there market share in the home loan segment. To attract new home loan customers, SBI is now... Read more »
Co-Borrower Loan

Home Loan From Parents Or Relatives Vs. Home Loan From Banks

Many times we need to buy a home but we don’t have enough money to pay the full amount of the housing property by your own. So to bridge the gap one... Read more »

SBI Offered Old Home Loan Borrowers To Switch To New Lower Interest Rates

State Bank of India (SBI) has decided to offer a facility to their existing home loan customers where they can switch to lower interest rate i.e current interest rate. SBI introduced this... Read more »

Why And How To Switch Bank For Existing Home Loan?

When we talk about switching existing home loan from one bank to another, ‘What is the very first thing which comes to your mind?’. In most cases, that one thing which makes... Read more »

Bad News– Home Buyers Will Get Less Loan Amount As Per New RBI Guidelines

Reserve Bank of India (RBI) have notified banks not to include the cost of stamp duty, registration charges and other charges while calculating the value of a property for granting home loan.... Read more »

How Much Home Loan Am I Eligible For?

There were two friends, Sunny and Bunny. They always cherished to have a house of their own; however in such times for a single earner it is indeed difficult to build a... Read more »

In simple terms, a home loan is the kind of loan that assists the borrower to buy a primary or investment residence.

In a home loan, the borrower transfer’s the purchased property’s title to the lender until such time where the home loan is entirely paid off, and other terms and conditions have been met. The interest levied on the home loan can be fixed interest rate or floating interest rate. You can pay back the home loan in equal monthly instalments (EMIs) which comprise both of your principal amount and the interest amount. In case of a home loan, the purchased property acts as a collateral.

Hence a home loan is a secured loan available at moderately low-interest rates. This loan is usually availed for a long-term and can be availed for a period of 30 years. The longer the loan tenure, the lower is the EMI.