Home loan refinancing lets you replace an existing mortgage with better terms, lower interest rates, or reduced EMIs. It offers financial flexibility, improved service, and access to additional funds. However, refinancing may not be ideal if it incurs higher costs or extends tenure unnecessarily. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/home-loan-refinance
When opting for a home loan for under-construction property, key factors include loan type (self-construction, plot + construction, or renovation), builder credibility, lender property analysis, construction monitoring, and disbursement process. Benefits include customization, phased interest payments, and future expansion flexibility. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/consideration-for-home-loan-for-under-construction-property
The base rate is the minimum lending rate set by the RBI, influencing loan and deposit interest rates. It is affected by policy rates, inflation, liquidity, and economic conditions. Banks calculate it based on operating costs, cost of funds, and regulatory guidelines. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/base-rate-and-its-calculation
Joint vs. Individual Home Loans: Joint home loans offer higher eligibility, shared repayment, and tax benefits, while individual loans provide full ownership and financial independence. Choose based on income, need, and relationship stability. Compare both to find the best fit for you. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/joint-home-loans-vs-individual-loans
Digital tools simplify home loan applications, making the process faster and stress-free. Key tools include eligibility calculators, EMI calculators, amortization schedules, and prepayment calculators. These tools help borrowers plan finances, estimate payments, and explore loan options with ease. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/home-loan-process-with-digital-tools
होम लोन लेते समय इन बातों का रखें ध्यान। होम लोन लेते समय सिर्फ ब्याज दर ही नहीं, लोन अवधि, पूर्वभुगतान विकल्प, शुल्क, दस्तावेज़ और उधार राशि जैसे कारकों पर भी ध्यान दें ताकि वित्तीय बोझ न बढ़े। Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/home-loan-ke-liye-zaroori-jankari
Check your CIBIL report for errors like incorrect info, duplicate accounts, and missed payments. Dispute mistakes with CIBIL or lenders to maintain a good score. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/rectify-mistakes-in-your-cibil-report
Home loan EMI for under-construction property starts upon loan disbursement, covering only interest. Full EMI begins after construction is complete. Benefits include lower prices, higher appreciation, and customization. However, rental income is delayed until completion. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/home-loan-emi-under-construction-property
Home loan foreclosure allows borrowers to repay their loans before the due date, saving on interest and improving credit scores. Methods include full repayment, debt consolidation, or using investments. Alternatives like refinancing and balance transfers are also available. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/know-all-about-home-loan-foreclosure
Home loans for Private employees with flexible tenures and high LTV ratios. Key factors include location, legal checks, and eligibility criteria. Improving credit scores, adding co-borrowers, and managing debt enhance loan approval chances. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/home-loan-for-private-sector-employees