Home Loan: Friends, buying your house nowadays has already become easier, and there is a big reason for this Home loanBanks and other finance companies offer many types of loans, and through home loans you can also easily buy expensive houses in installments. But the real advantage of the home loan is only when you get this at a low interest rate. Because the interest rate will be low, then your installment (EMI) will also be less!
EMI consists of two things – one is the real amount (original amount) of your loan and the other interest on it. So if you too are thinking of taking a home loan to buy your dream house, then tie the knot mentioned below. With this you will not have to face any kind of problem in future.
1. Your credit score is your biggest friend! (Home loan)
Just as children who bring good numbers to school are loved by the teacher, so good in the world of loan Credit score (or cibil score) Your best partner! This score is between 300 and 900.
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Score means: With the CIBIL score, the bank or finance company sees how capable and reliable you are in repaying the loan. Do you pay your old installments or credit card bills on time?
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Low score, more difficult: If your credit score is low, banks can relieve you in giving loans, or you can give loans at higher interest rates.
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Good score, easy loan: At the same time, if your credit score is good (usually above 750), then you get a loan at an easy and low interest rate.
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What to do: Therefore, check your credit score before applying for a home loan. This is the biggest proof of your good financial habit.
2. Take a joint loan with wife, you will get benefit!
Why alone, when it comes together! There are many benefits of taking a joint home loan.
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low interest rates: If you take a home loan (joint) home loan with a female member like your mother, wife or sister, then you can get an interest rate discount. Many banks give special concession to women on creating co-applicant.
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EMI burden less: This can also reduce the burden of your EMI to a great extent because the responsibility of repaying the loan is distributed and the possibility of getting a loan also increases.
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What to do: Therefore, when you plan to take a home loan, take complete information about joint loan from the bank.
3. Rein the habit of changing the job again and again!
When banks give you a loan, they look carefully at your job and stability of your earnings.
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What banks see: What kind of work you do, how sure your job is, and how many companies you have worked in – all these things matters.
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Sustainability is necessary: Banks shy away from giving loans to people who change their jobs very quickly. They feel that such a person’s income cannot be stable.
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What to do: Therefore, if you are thinking of taking a home loan, try to maintain stability in your job. This will not only increase the chances of your loan to be approved, but you can also get a better interest rate.
So friends, by taking care of these small but important things, you can easily get a home loan on beneficial conditions, and fulfill your home dream!
Dream of getting your house will be fulfilled! Last date of Pradhan Mantri Awas Yojana extended, hurry up apply!
