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29 March, 2017

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Taking Home Loan–Keep These 5 Five Things in Mind

5 Key Points Before Taking A Home Loan


A Home Is A Requirement of Everyone. Whether you are salaried or a businessman or a professional the first thing one ever dreams of is a Home owned by himself or herself.

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Now, before you go and apply for a Home Loan, keep these five things in Mind.


  1. Research: One should perform a good research about the available Home Loan in the market. You should not believe advertisements and agents blindly. While making a research you should consider each and every aspect of your requirement of home loan.
  2. Have a look on the EMI: While you are making decision to pay EMI you should analyze your income and expenditure first. You should see how much income you can spare on EMI on monthly basis.

  3. Try to Negotiate: There is always some scope of negotion. Because only Return on Investment is fix so there is still some scope of negotiation for you.
  4. Loan Eligibility and CIBIL Score: Make the required document handy which include your information about your credit card and your history in paying your debts. If you have good record in paying your debts, then you can use it as a plus point when applying for a loan. Ideally, your CIBIL score should be 750 or more to get a lesser Return on Income on your Home Loan.
  5. Read the document very carefully: The agreement might miss some point on which you negotiated with the agent or financial authority. The more you known about terms and conditions, the better it is for you.


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