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Home Loan Blogs

How to Choose the Best Home Loan Tenure

How to Choose the Best Home Loan Tenure

Lenders offer long tenures to borrowers so that they can realise their dreams of becoming homeowners while repaying their home loans with relative ease. Repayment tenures on home loans can extend up to 30 years.

A longer duration substantially lowers the equated monthly installments (EMIs). Unfortunately, this also increases the overall interest payout and cost of the loan.

Sadly, there is no workaround to this. Borrowers who opt for a shorter tenure with lower rates of interest have to pay high EMIs.

Take actions to improve your CIBIL score

These kinds of challenges could lead to defaults and late payments, which in turn, negatively affects the credit profile of the applicants. This results in losing the home at worst or a bad credit score at best, which can hamper any future borrowing power.

Thus, choosing the right home loan tenure is crucial. Thankfully, keeping in mind just a few pointers can help you make an informed decision that is tailor-made to your needs.

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Low CIBIL Score and Need a Home Loan Here are some steps
What is CIBIL Score - How Does it Impact Your Home Loan Application

Planning to take a home loan to buy your dream home? This is an excellent decision, especially...

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Low CIBIL Score and Need a Home Loan Here are some steps
How to Calculate Home Loan Interest? Is there an Online tool to calculate Home loan interest?

In any loan type, the interest cost is one of the major considerations and has the highest share in EMIs in the early days...

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Low CIBIL Score and Need a Home Loan Here are some steps
How do I Know if I Can Qualify for a Home Loan?

You are standing in front of your dream home. Buying a property outright may be an option only for a select few...

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How A Home Loan Calculator Can Help You Calculate Tax Benefits
How A Home Loan Calculator Can Help You Calculate Tax Benefits

You must be aware of how a home loan can help save taxes on your income under different sections...

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New Year Resolution Buying your Dream House in 2022
New Year Resolution - Buying your Dream House in 2022

The year 2020 and 2021 has been a learning curve for everyone. It has shown us the true priorities...

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How to Achieve your Dream of Owning a House Using PMAY Subsidy Scheme?
How to Achieve your Dream of Owning a House Using PMAY Subsidy Scheme

The Indian economy is one of the fastest growing in the world with a burgeoning middle class population.

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Low CIBIL Score and Need a Home Loan Here are some steps
Low CIBIL Score and Need a Home Loan? Here are some steps

Everyone nurtures the dream of owning a house as it gives you and your family a sense of stability and security.

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How Much Time Does it Take to Get a PMAY CLSS Subsidy
How Much Time Does it Take to Get a PMAY CLSS Subsidy

In 2015, the government of India launched the Pradhan Mantri Awas Yojna (PMAY). The goal of this scheme is to make housing affordable...

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How Much Home Loan can I get on My Salary
How Much Home Loan can I get on My Salary?

Home is truly where the heart is, buying a home of your own can bring a sense of satisfaction and belonging. However, with the...

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Is now a good time to buy a house  What home buyers in 2021 should know
Is now a good time to buy a house? What home buyers in 2021 should know

The home buying space is abuzz with activities again despite the economic lull and uncertainties caused by...

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How Your Credit Score Can Impact Your Home Loan
How Your Credit Score Can Impact Your Home Loan?

The role of credit score and how it impacts the eligibility of a borrower to avail loan is often underestimated. Compared to your...

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What is a Home Loan NOC and why should you get it
What is a Home Loan NOC and why should you get it

A home loan NOC or no-objection certificate is a legal document issued by the lender which informs about the complete repayment...

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Difference between Home Improvement Loan and Home Extension Loan
Home Improvement vs Home Extension Loan: Know the Differences

We all love living in a good home and on timely basis we keep on doing home improvements in our homes as it adds substantial value...

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Home Loan
Government Gives Major Boost To Housing And Home Loans In India

There has been a steady offtake in the affordable housing segment due to government’s various incentives and efforts to stimulate...

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why  you  should  use  a  home  loan  calculator  before  applying  for  a loan
Why to use Home Loan Calculator? And How does it Work

Buying home is a dream that we all have and with the help of home loan it has become bit easy to fulfil this dream. There...

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Home Expansion Loan
Expand your Home with a Home Expansion Loan

Home additions such as kitchen expansions and additional bedrooms or even an additional floor all add square footage...

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How to plan your finances before applying for a home loan
How to plan your Finances before Applying for a Home Loan?

Buying a home loan without financial planning is like shooting in the dark. You would end up feeling overwhelmed with all the expenses...

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Role of an EMI calculator in the home loan application process
Features & Benefits of EMI calculator in the home loan application process

Equated Monthly Installment (EMI) is the amount payable every month to the financial institution until the loan amount is fully paid off...

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