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


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?



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

Mortgage 101 - Everything You Need To Know About Financing ...

... Everything You Need To Know ... There are actually several questions that a loan officer needs to ask ... it always seems that home loan ...
Read more

Everything you need to know about Home Loans in India ...

A complete guide on home loans, types of home loans, types of interest rates, tax benefits, insurance benefits. Find answers at Commonfloor.com ...
Read more

VA Loans - Everything You Need To Know

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

Home Improvement Loans: Everything you need to know about ...

Home Improvement Loans: Everything you need to know about Home Loans , quicken loans sbi home loan : Get a Cash Advance : installment loans ...
Read more

Geeks On Finance: What You Need to Know When Getting a Loan

What You Need to Know When Getting a Loan. ... Business loans can pay for everything from ... can help you understand what you need to know about a loan.
Read more

Everything You Need to Know About Rent-to-Own Homes ...

Rent-to-own homes hold a number of benefits similar to borrowing a mortgage loan. Unlike mortgage loans, rent-to-own homes carry high risk.
Read more

All you need to know about home loan principal, interest ...

The home loan EMI has two ... the Nper needs to be multiplied by ... if one wants to know the principal repayment in the eighth year ...
Read more

Advice - Everything you need to know about FHA mortgages

Home; Advice. Everything you need to know about FHA mortgages. ... The FHA backs its loans just as the Department of Veterans Affairs insures VA home loans.
Read more

5 Things You Need to Know About Home Equity Loans - Yahoo ...

From Yahoo Finance: The fact that home equity loans are making a comeback is one thing to know about them... but here are four other things you ...
Read more