India Business News: When will loan EMIs start coming down? Since the last five Monetary Policy Committee (MPC) meetings, including today’s, the repo rate has been kept un
The home loan industry is luring in customers during the festive season by reducing home loan interest rates, waiving processing fees, and waiving EMIs and loan prepayment charges. This is a good time for borrowers to weigh options and choose the lender with the best conditions.
From down payment to equated monthly instalments (EMIs) to location to additional cost for registrations, you need to consider a range of factors before you sign on the dotted line on a home. If you are asking yourself "am I ready to buy a house?", and if you are a first-time buyer, it would be wise to make a checklist before starting the process. But before you start the process ask yourself if you earn adequately to buy a property.
When buying a property, it’s best to pay 30-40 percent or even more of the property cost as a down payment. An increase in interest rate can derail your finances if your EMI is already equivalent to your monthly savings.