123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Investing---Finance >> View Article

Benefits Of Home Loan

Profile Picture
By Author: Finway Capital
Total Articles: 155
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Every person wishes to have his own dream house. But unfortunately many cannot afford of fulfilling their desires. In such conditions the financial institutions or the banks are there to get their dreams come true. It is not always affordable by many to find properties for constructing a new house in the major cities of India. In such a scenario one can opt for home loans. The scheduled banks and other financial creditor companies are ready to provide home loans to individuals. These loans can be availed to construct a house of their own in their respective properties or to buy a flat in some developing complex or one block apartments. Many such organisations provide loans in low interest which make it easier for the desired persons to get the loans. This home loan in Delhi and other major cities in India is widely availed by its inhabitants in order to procure the house they desire for.

Quite a few elements are taken into consideration while providing a conventional home loan. At first the consumer record is checked to find out his/her credit score. His/her association ...
... with the bank is also analysed in this context. The area of the property and the reputation of the developer are also considered to be important aspects in this regard as the property estimation is evaluated on basis of this information.

Benefits

Firstly, home loan helps to fulfil one’s desire to have his/her house or residence to stay. It increases the chance of acquiring a house by making it affordable mainly for the salaried persons. Secondly, the rate of interest is lower in compare to other loans available in the market. Thirdly, tenure of 20 years maximum is offered for home loan. Fourthly, the amount of loan completely depends on the requirements. Fifthly, with booming condition of the real estate it helps in capital appreciation. It is always preferable and profitable to invest on lands as its value always increases. Lastly, tax benefits can be acquired from home loans once all the conditions are met according to the Income tax act.

Home loans are not only obtainable for new projects. One can also apply for loans for under construction buildings or for revamping one’s existing house. In case of business developments many other loans are offered. Loan against property that is on some existing assets are provided with proper proceedings. These are all secured loans as the risk factor for the bank or the financial creditors is less in case of non-payment of the loan. unsecured business loan without any collateral can also be provided with certain factors to be taken care of before approving the loan.

Total Views: 219Word Count: 445See All articles From Author

Add Comment

Investing / Finance Articles

1. How Do 12 Month Loans Direct Lenders Work?
Author: Sarah Glenn

2. Text Loans Direct Lenders Only: A Quick Money-making Method
Author: Sarah Glenn

3. Don't Just Stand Still! Payday Loans For Uk Disability Benefits: Where To Begin?
Author: James Robinson

4. Loans Offered By The Texas Government For Low Credit Scores
Author: Ricky Johnson

5. Get Easy Approval Online Loan At Depfin Finance In South Africa
Author: Depfin Finance

6. Factors Affecting Home Loan Eligibility
Author: Mohit Bansal

7. Blend – International Financial Solutions Company
Author: Blend Finance

8. How Direct Deposit Loans Payout You Fast Cash Same Day?
Author: Amy Jones

9. Short Term Loans For Bad Credit Uk: Make Sapless Financial Health Oaky
Author: Helen Clark

10. Financial Planning Tips High Net Worth Individuals Should Follow
Author: Avendus Group

11. Here Is How To Increase The Chances Of Ipo Allotment
Author: harish

12. Your Wise Choice Of Short Term Loans Uk Direct Lenders Frees You From Overall Burdens
Author: Jack Ryder is a financial adviser of payday lendz

13. Why Does Quality Trading Matter Over Quantity Trading In Forex
Author: Roff benjaminn

14. The Pros Of Using A Car Insurance Calculator
Author: shivani prasad

15. 4 Tactics To Lowering Interest Rate
Author: Lorenzo Rodriguez

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