Falling interest rates and availability of cheaper housing finance have proven to be the proverbial "dream come true" for those planning to take home loans.
'Transparent floating' home loan rates are better than fixed rates believes home loan expert Harsh Roongta.
Do you know that your application can get rejected on account of a not so perfect CIBIL score?
If you take some care you can avoid the common mistakes that most people make while taking a home loan.
Discrimination between old and new customers have come down after base rate.
Several questions need to be answered before you take a home loan. Here are some of the answers you are looking for.
If floating rates are too risky for you then should you go for a mix of fixed and floating rate of interest on your home loans? Home loan expert Harsh Roongta answered your home loan queries on August 14.
Sell the property if bought for investment purpose.
Cholamandalam Investment and Finance's (Chola) share has yielded one of the best returns in the last month. The company has sustained assets under management (AUM) growth at 7 per cent quarter-on-quarter (Q-o-Q), and 35 per cent year-on-year (Y-o-Y) in Q1FY25. Scaling up of new businesses now contributes to 13 per cent of loans (vs 10 per cent in Q1FY24).
The country's second largest lender ICICI Bank on Tuesday said it has not raised home loan rates from August 1 and will take a view only if cost of funds goes up.
A younger co-borrower may help you get a longer tenure loan, while income of a non-taxpayer co-borrower can be shown as savings to get a bigger loan. Women are seen as more responsible when it comes to repaying loans.
Do remember that though the banks insist that all co-owners of the property should also be co-applicants in a joint home loan, the reverse need not be true.
Housing Development Finance Corporation said on Wednesday the interest rates on home loans will not go up till March 2005, subject to developments in the financial markets.
NRIs cannot claim tax benefits on home loans in India as they have to pay tax in the nation where they work and earn. However, they need to file tax returns to become eligible for home loans. But if they pay tax in India for income earned in India, they can claim tax rebate for the home loan.
Public sector Punjab National Bank on Friday said it had no plans to raise the rate of interest on home loans, after two leading private sector banks hiked interest rates by 0.5 per cent across the board.
Let us evaluate various possible situations an individual can find himself in and understand what the Income Tax Act permits him to do.
If you decide to go for a step-up loan, select fixed rate option instead of floating rate option, as it will let you control your EMIs. Besides avoid over-borrowing on this kind of a loan, to prevent financial problems later on.
With HDFC also jumping on the dual-rate bandwagon, a home buyer has some good options.
Individuals applying for a home loan get upset when their applications are turned down. Of course, there are reasons for the same, but they are not adequately conveyed to the individual.
Currently, ICICI Bank and HDFC do offer fixed-rate loans but the differential between fixed and floating rate loans is huge.
Can you take action against your home loan lender if the bank gives loans to new borrowers at lower rates and doesn't reduce rates on your loan? If yes, then what action can you take? Get Ahead home loan expert Harsh Roongta sheds some light on these and many other home loan issues.
How and why too many credit inquiries can hurt your CIBIL score and hence make lenders wary of lending to you
The chairman of the country's largest private sector bank felt 80 per cent of the consumer loans were back, the remaining 20 per cent mostly unsecured loans had taken a back seat.
The borrower is the real winner. The home loan rate war announced by HDFC and SBI is indeed good news for those who are looking out to buy a home.
State Bank of India on Wednesday said it did not have any immediate plans to revise its home loan rates, including that of the 8 per cent special scheme originally slated to end this week.
What many don't realise is that including their spouse and children in their tax planning can enable them to reduce their tax burden legally.
A joint home loan is a loan which is taken by more than one person.
Home loan consumers shouldn't rejoice yet expecting a cut in their home loan rates, feels Harsh Roongta, CEO, Apnapaisa.com, a day after the banking regulator Reserve Bank of India cut the repo rate by 0.5 per cent.
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