123ArticleOnline Logo
Welcome to 123ArticleOnline.com!

ALL >> Investing---Finance >> View Article

A Home Loan Rates Comparison Guide

By Author: Aishwarya Mahurkar
Total Articles: 33

For most borrowers, the cheapest home loans are the ones that offer the lowest home loan rates in India . For the most part, it is true. It is certainly the biggest denominator. However, if the other fees, charges and taxes raise the principal amount of your home loan, it can be useless to have lower home loan rates. Hence, this home loan interest rate comparison guide is about making sense of this financial product holistically.


Realistic numbers:


When you are considering ideal housing loan interest rates , the advertised ones are applicable to the best borrowers only, where professional credibility and repayment ability are easily aligned to repay the principal amount and interest over a period of time. For average borrowers, the applicable home loan rates will be higher. More importantly, any hiccup in the credit report or professional ability can cost you. So, make a smart home loan application to get the lowest possible housing loan interest rates.


Realistic calculations:


When you compare several home loan rates in India, it cannot be any helpful to make a decision if you can use inaccurate principal amount or tenure. So, calculate the principal amount correctly by including the other service charges, taxes, stamp duty, home loan protection plans and more. Select a decent tenure that you can afford and then make the calculations that will allow you to see how different home loan products will result in different EMIs. This is the most efficient way to compare home loan rates in India and select the right housing loan product for your home.


One horse race:


When there is a single horse in a race, there is no winner or loser. Comparison is the key. When you want a home loan, apply to the select few home loan lenders so that you can compare their offers and select the most suitable one possible. If you have a single offer, you cannot take advantage of the competition in this fierce finance market. If you are referring to just the advertised home loan rates, these calculations will not a reasonable indication of your real home loan tenure.


As you compare the realistic home loan rates with the right principal amount, you can select your home loan profitably. However, if in spite of all efforts, the realistic calculations of your EMIs are higher than 30% of your monthly in-hand salary, it might be time to consider another property.

Author Bio :

The author is a seasonal writer on topics of finance and the home loan sector. Through her writing, she articulates aspects that are important to people availing home loan rates in India facility such as ideal housing loan interest rates, documents, eligibility criteria that help to make the best decision.

Total Views: 116Word Count: 454See All articles From Author

Investing / Finance Articles

1. All You Want To Know About An Nro Account
Author: Samantha Kennedy

2. Why You Must Outsource Accounting Services Sans Any Doubt And Fear
Author: Lee Bruce

3. Why Door To Door Loans Had Been So Popular Till Now?
Author: David Brown

4. The Latest Trend In Door To Door Loans.
Author: David Brown

5. The Ultimate Revelation Of Door To Door Loans.
Author: David Brown

6. Growing Your Company With Invoice Factoring Funding
Author: Nova Cash Flow Finance

7. All Eyes On The Following Intraday Cash Strategies
Author: robin scott

8. Choosing Chartered Accountancy Profession With Number Of Possibilities
Author: Austin K Loader

9. Greater Noida Triumphs Over Gurgaon To Invite With The Finest Golfing Luxury Living – The Hemisphere
Author: The Hemisphere

10. Towards Benchmarking- Efforts Made Towards Improving Transport Efficiency
Author: Dylan Munro

11. Tips For Ambitious Property Investors
Author: Charlie

12. Need Of The Hour For Investors - Equity Research Reports
Author: Aastha Kapoor

13. Critical Guidelines For Availing Short Term Loans In United Kingdom
Author: David Brown

14. How Do Banks Benefit From An Asset Reconstruction Company In India?
Author: Nidan Narkhade

15. Long Haul Auto Loan: Understand The Pros And Cons Before Saying Yes
Author: David Brown

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: