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How To Reduce Your Home Loan Emis During Home Loan Tenure

By Author: Aishwarya Mahurkar
Total Articles: 33

For several house loan borrowers, home loan EMIs transform into a utility bill payment. In other words, a lot of borrowers do not think that they can improve their home loan EMIs after signing on the dotted line. However, that is far from the truth. There are several ways to reduce your housing loan EMIs after signing the agreement. Let’s consider three of them in this article.

1. Housing finance rescheduling: Are you having trouble making ends meet while payingyour house loan EMIs? Is increasing home loan interest rate straining your monthly budget? Don’t worry. Contact your branch manager or loan officer and inquire about rescheduling. It extends your home loan tenure and lowers your monthly EMIs. This is the best way to lower down the stress of home loan EMIs on your monthly budget without making any drastic changes. This will help you to make housing loan repayments consistently without any delays or defaults.


2. Housing finance restructuring: This may seem similar to rescheduling. But, if you want to change more than just the home loan tenure, you need to restructure yourloan to make it the perfect home loan . You can make use of your repayment options and type of interest rates to make a considerable impact on your home loan EMIs. However, it is essential to understand that restructuring does not make your home loans disappear. It just helps you to even it out more conveniently over a period of time.


3. Home loan refinance: Are you paying higher interest rates than the ongoing rates in India? If yes, then you can consider a home loan balance transfer, which is a great way to shift to lower interest rates. If you get a house loan withconsiderably lower interest rates, it is a great deal and the easiest way to lower monthly EMIs. However, this option is not ideal for you if you are in the last 2 to 5 years of your home loan tenure. This choice is not even available to borrowers who default their EMIs at any point of time.


The companies providing housing finance in India are quitelenient and offer several ways to repay loans comfortably. However, these options are not necessarilypart of the best home loans in India. They are choices available to borrowers, who make their repayments consistently. Defaults and delays never help you to receive this kind of assistance from housing finance companies. But, if you pay your EMIs regularly, the lenders want to make this home loan process as convenient as possible. That approach does not seem like a hallmark of every housing finance organization in India, but reputed and responsible lenders like DHFL have a keen focus on offering customer-friendly services.

Author Bio :

Aishwarya Mahurkar is an experienced writer concerning the finance industry. Her articles help in informing her readers of the perfect home loan and the housing finance in India.

Total Views: 100Word Count: 480See All articles From Author

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