Why Home Refinance can be a Debt Trap? When rates are low, it’s tempting to refinance your home, because your monthly payments will go down, and you’ll get some extra cash. Only people with the best credit qualify for the…
Debt Trap – Home Refinance
How home loan balance transfer works?
The interest rate of an existing home loan and the flexibility the financing institution offers determines whether one continues with the same loan or thinks of a switch. For a lower interest rate and/or other advantages, customers can transfer the…
Types of properties on which loans are provided
Different types of properties, on the basis of planning, on which loans are provided, are: (1) Registered properties with Map – A registered property with proper maps and clear sanction plan by town planning authority is one of the best mortgages considered…
Loan Against Property
A loan against property is a loan given or disbursed against the mortgage of property. The loan is given as a certain percentage of the property’s market value, usually around 40 per cent to 60 per cent. Loan against property…
What are the documents required for Loan Against Property?
The following are the documents required to apply for Loan Against Property:- For Salaried Person Photo Identity Proof: Any One from the following Passport Pan Card Voters ID Card Driving License Residence Address Proof: Any One from…
What is Loan Against Property?
A loan against property is a loan given or disbursed against the mortgage of property. The loan is given as a certain percentage of the property’s market value, usually around 40 per cent to 60 per cent. Loan against property…
What is Reverse Mortgage?
Reverse mortgage is a finance option for senior citizens. It acts as an additional source of income if the existing pension corpus is inadequate to fund their retirement. This option allows the senior citizens to mortgage a self-owned property with…
Know more about Home Loan Balance Transfer
The following are the points to be noted before doing Home Loan Balance Transfer. 1) Reason to transfer Most borrowers shift their home loans from one lender to another because of a significant difference between the rate that their bank/housing…
What is the Eligibility for PMAY?
Pradhan Mantri Awas Yojana (PMAY), with two components Pradhan Mantri Awas Yojana (Urban) (PMAY-U) for the urban poor and Pradhan Mantri Awaas Yojana (Gramin) (PMAY-G and also PMAY-R) for the rural poor, is an initiative by Government of India in which affordable housing will be provided to…