Everything you needed to know about home loans

25 %
75 %
Information about Everything you needed to know about home loans
Real Estate

Published on March 10, 2014

Author: CommonFloor

Source: slideshare.net

Description

Home Loan plays vital role in fulfilling your dream for buying a property or investing in real estate sector. Banks and Housing Finance Companies (HFCs) offer various home loans with tailor made options to suit different payment capabilities. A simple understanding of home loans can help loan seekers in applying for suitable options.

Everything YOU Needed to know about Home loans

How to get a home loan? Tax benefit? Loans to improve my house? What do banks check ? Land Loans ? Home Loan? What is the rate of interest? EMI ? Tenure?

STOP LOOKING FOR THESE ANSWERS EVERYWHERE

FIND THEM ALL IN HERE

Why Home Loans ???

Because rarely do people have the money to buy their dream home Because you can avail a loan of up to 85 - 90% of the total property cost

Because YOU can take loans with tenure ranging from 1 – 20 years Because taking a home loan offers tax benefits

There are different Types OF Home Loans DID YOU KNOW ? ?

These are basic loans used to purchase new property Home Purchase Loans

These loans are used to renovate and modify existing properties Home Improvement Loans

These are given out to construct a new home Home Construction Loans

These loans are used to expand or extend parts of an existing home Home Extension Loans

These are usually new loans with lower interest rates, which are used to repay an old loan Balance Transfer Home Loans

These are opted to buy fresh land for construction of new homes Land Purchase Loans

Bridge home loans can help to finance the new home when people wish to sell their existing home until a buyer is found Bridge Home Loans

These helps the NRIs in buying residential properties in India NRI Home Loans

What about Interest rates ? %%

Fixed Interest rate % When the interest rates charged remain constant throughout the tenure of the loan, it is known as Fixed Interest Rate Opting for fixed rate protects the loan seeker in case of fluctuating interest rates in the market

Floating Interest rate % Floating Interest Rates is dependent on the market rate The interest rates will rise and fall accordingly as it is linked with the bank lending rate

What Factors are considered to get a Loan ?

What about tax benefits ???

The Section 80 C of the Income Tax act provides for a maximum deduction of Rs 1 Lakh for repayment of the principal amount of the loan

Under Section 24, interest repayments of up to Rs. 1.5 Lakhs per year are exempted from tax

Did we get the answers to our questions?

CommonFloor.com is India's leading property search portal. On a mission to make property search hassle-free, transparent and fruitful; CF has best of breed property search on maps, property search mobile apps and an extensive section for knowledge resources and advice in real estate.

Add a comment

Related presentations

Related pages

VA Loans - Everything You Need To Know

... (along with everything else you need to know ... Everything You Need to Know About VA Loans. ... The 5 Best VA Home Loan Benefits; 3 Reasons You ...
Read more

5 things you need to know about home-equity loans ...

... here’s what you need to know. ... 5 things you need to know about home-equity loans ... authorizes you to borrow smaller sums as needed, ...
Read more

Everything you needed to know about home loans ...

Everything YOU Needed to know about Home loans How to get a home loan? Tax benefit? Loans to improve my house? What do banks check ? Land Loans ?
Read more

Everything You Need to Know About a VA Loan - 55 Places

Click here to see everything you need to know about a ... is able to assume the VA loan when buying the home. While VA loans are commonly used to ...
Read more

4 Things You Need to Know About Home Equity Loans | Credit.com

... you'll need to know if you ... You Need to Know About Home Equity Loans. ... you to borrow smaller sums as needed, ...
Read more

Five things you need to know about homeownership and home ...

5 things you need to know about homeownership. ... Before you begin the home-buying process, ... Loans & Credit, ...
Read more

Everything You Need to Know About Jumbo Mortgages - Zillow

Everything You Need to Know About Jumbo Mortgages ... Know-How. Blog Topics. Celebrity Real Estate; Market ... Get 100% Financing on Home Loans up to $1 ...
Read more

Home Loans Guide | Home Loan Considerations | RateCity

Read our home loans guide to answer all your questions about applying ... Split home loans A split loan lets you fix a portion of ... Did you know ...
Read more

Everything You Need to Know About 7 Student ... - Lifehacker

... pay back their student loans to let them know about the ... Everything Your Browser Knows About You ... Everything You Need to Know About ...
Read more