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Home Loans

Posted By PolicyPartner.in Team

 In case you have been planning to buy your dream home for very long and you are unable to do that because of the rising prices everywhere, here is some help for you. You can take a loan that will help you to buy your dream home. All you have to do is to save enough money to make the down payment of your home that is 20% of the home value. The remaining 80% of the home can be taken as a loan from a bank depending upon how much loan you are eligible for. The bank will decide how much loan you are eligible for depending upon your income and various other parameters. This home loan can be repaid to the bank every month as equated monthly installments or more popularly know as EMIover the entire tenure of the loan. A part of this EMI goes towards repaying the principal component of the loan and the other part goes towards paying the interest. The EMI is calculated on a reducing balance basis. A reducing balance home loan means that in the initial days of the loan, the interest component of the EMI is high as the loan amount is high. But gradually, when the principal amount starts becoming lesser and lesser as you keep on paying it through EMI, the interest component of the EMI goes down and the principal component increases.

Also, while you are going to take a home you need to decide, the type of interest rate you want to pay to the bank. The banks will offer you with an option of a fixed rate or a floating rate. A fixed interest rate for your home loan means that the interest rate is fixed for the entire tenure of the loan. But these days, most of these fixed interest rates come with a reset clause where the bank has an option to change the interest rate after a fixed period of time generally in a range of 3 to 5 years. There are also a few banks that give you a fixed interest rate for the entire term of the loan. 

The other type is the floating interest rate home loan where, the rates will depend on the base rate of the bank. As and when the bank will change their base rate, the interest rate will change for the customers. The change can either be in terms of EMI or tenure. For example, if the bank increases their base rate, the EMI will increase if the customer chooses the option to increase the EMI. Or in case the bank decides to decrease their base rate then the EMI will reduce for the customer. Generally the floating interest rates are cheaper compared to the fixed rates.

Looking at the interest rate scenario, this is quite an appropriate time to buy the home you were always looking to buy. The interest rates are on a rising trend thus in case you can manage to get a home loan right now, you can expect to get a better interest compared to what you will get a few months down the line


In todays life,its not easy for a common man to purchase his DREAM HOME. Property rates are touching new heights every day. Across all metro cities like New Delhi, Mumbai, Kolkata, Chennai, Bangluru, real estate rates are increasing day by day.In this tough time Home Loans are meant to help you realize your dream.Home loan helps you to purchase the property you have chosen Normally Home loans are provided based on the market value of the property , value estimated by banks or the registration value of the property. Availing various types of house loans to suit your individual needs at the lowest rates & easy financing can now fulfill the need for a house of your own. Home loan is not a one-time decision; do review the market periodically before availing them. Today there are unlimited numbers of banks in the country wanting to give out Home loans. In present scenario, it looks very easy to get a home loan. But is it really so ?? Policy Partner gives you the best comparison and latest interest rates for home loans. We bring the best home loan quotes for you instantly ,even without asking you your details. If you find our services satisfactory then only you apply for home loan with us. Nothing would pleasure us more than to assist you purchase your dream home. Policy Partner make it easier for you to move in as soon as possible without putting a strain on your wallet. Your Dream home is closer than you think.


Apply for a home loan today.



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