Recently a reader posted this question to me: “Should I use funds from my mutual funds corpus to prepay home loan?” If you are also considering mutual fund withdrawals to prepay your home loan, I think article will help. It’s an intuitive urge, and at some stage of investing almost all investors face this dilemma….
Many people dream of owning their own home. But when it comes to buying a house, there are many hurdles, especially regarding finances. Most of us do not have the capital to buy a house in India (especially in tier-1 cities of India like Delhi, Mumbai, Chennai, Kolkata, Bangalore, Hyderabad, Pune, and Ahmedabad). Hence, we…
Homeownership is an exciting yet complex venture. Many individuals, eager to secure their own self-owned living space must opt for home loans. Now, If there is a situation where one took out a 20-year home loan but wishes to clear it off in just two years, is it advisable? The question is, will one end…
Modern property developers, in partnership with banks, provide a unique home loan feature where EMIs commence post-property possession. This deferred payment structure grants buyers financial flexibility. This arrangement aligns with buyers’ convenience and reduces the initial financial burden of EMI payment in addition to rent payment. But is this deferred home loan EMI offer is…
The purpose of this blog is to emphasize the necessity of leading a loan-free life. There are moments in life when availing home loan becomes unavoidable. But, is it good to repay the home loan early? In this article, we will read why prepayment of loans cannot be ignored. For quick answers, read the FAQs….
If you are in a dilemma about whether to invest or prepay the home loan using your spare cash, then you are not alone. This dilemma happens to a majority of people. When people climb-up the income ladder, they begin to generate more free cash. If the focus is on improving one’s financial health, wise…
There are hundreds of people around who can share their property investment ideas with us. Almost everyone, at some stage in their life, has experienced a property dealing. We’ve seen our parents, elder siblings etc buy a property. It has enriched our knowledge. Even listening about property dealing from friends also adds to our knowledge base. But nothing…
Before this incident I never heard of a home construction loan. One of our colleague was constructing a home for himself. In this age of rapid urbanisation, he decided to construct a home, all by himself. He had set a lavish plan for himself. He was planning to construct a really nice home. We were…
Reverse mortgage is also a ‘home based’ loan. But it is different from our typical home loan. The main difference is that, reverse mortgage is available only for elderly people, above 60 years of age. In working, the reverse mortgage is just the opposite of home loan. Hence the word “Reverse” is used to name…
Why to bother and calculate personal loan eligibility? Is it worth spending time on it? Banks anyways does it for us, right? Yes, but bank’s intervention happens often very late. By the time bank’s disclose our loan eligibility, we are almost on the verge of loan disbursement. Where is ‘loan planning‘ here? As an individual,…
Buying insurance cover with home loan is not mandatory. But still, banks “insist” the borrower to avail this facility. What one must do? If buying insurance cover with home loan is not mandatory, then why the lender (banks) insist on it? There are banks who may not even accept the home loan application without insurance…
SBI provides home loan at most attractive interest rates. Yuvraj wanted his home long transfer to SBI. He did some study and here are his findings. Yuvraj carries home loan of Axis Bank. He was paying interest at rate of 10.75% on his home Loan. He saw that State Bank of India (SBI) is offering…
