123ArticleOnline Logo
Welcome to 123ArticleOnline.com!

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

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: 91Word Count: 480See All articles From Author

Investing / Finance Articles

1. Download Algotrade To Enjoy Consistent Profits In Forex Trading
Author: johnsyanol

2. Applying For Guaranteed Loans With A Bad Credit History – What To Expect?
Author: Katherine Felix

3. Why You Should Refinance Your Mortgage Instead Of Getting A New One
Author: Daniel Contreras

4. Retirement Planning Companies In Richmond
Author: Danny McCarty is the author of this article

5. With Trade12: You Can Work With The Trustiest Brokers
Author: Trade12

6. Everything You Ever Wanted To Know About Cfa Level 1
Author: Sushri Panda

7. Your Forex Leverage & How To Manage It
Author: John Arnold

8. What Is A Two Wheeler Loan And How To Apply It?
Author: Neha Sharma

9. What Is A Recurring Deposit Calculator And How To Use It?
Author: Neha Sharma

10. Types Of Life Insurance Policies
Author: Neha Sharma

11. What Are The Basic Types Of Insurance Policies Available To Us?
Author: Neha Sharma

12. Do You Know What A Two Wheeler Loan Emi Calculator Is?
Author: Neha Sharma

13. Three Main Types Of Bank Loans Available In India
Author: Neha Sharma

14. Did You Know These Four Facts About Inactive Savings Bank Accounts?
Author: Neha Sharma

15. All You Need To Know About Personal Loans
Author: Neha Sharma

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