Buying a home is definitely one of the
biggest investments and the home loan has made it calmer for average salaried
people to buy a home of their own. One should not forget the long term
liability that needs to be checked and some of the things should be kept in
mind while making this important decision of getting a home loan.
Before deciding for a home loan, it is
always worthwhile to assess the impact of the loan and the monthly amortization
that one should pay based on the home loan interest rates against the home loan amount.
Keeping a check on how much you can afford
to pay each month, it is wise to keep the duration of the loan shorter. This
will impact on the home loan interest
rates and will help you fetch home
loan interest rates at significantly lower rates.
Summary: Home loan being the biggest
investment of a lifetime, therefore you should always clear your EMIs in time
to avoid any future aggravations.
1 comment:
Yes I agreed your comments , home loan biggest investment of a lifetime.The floating rate of interest will change as per the market lending rate. Here you have the risk of increase in interest rate if the market lending rate increases...saverable.com
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