Buying a luxury house is very important
factor and largest purchase, we make the right decision in our lifetime and
just by taking a home loan to finance it, is possible to be largest debt. Hence,
it is very imperative to get the best deal to finance your house. In the competitive
market scenario, the financial institutes provide consumer friendly loan
options. But, just by providing many product offerings available in the
property market with many features and varying interest rates, it is not very
easy to choose the right loan option for your need.
A little knowledge about home loan and
what is currently provided in the property market will go a long way in getting
the best deal on your home loan. Usually lenders finance maximum up to 80-90%
of the agreement value of the lavish property. The final loan amount depends upon
on the host of other factors like regular outgoings and revenue, evaluation of property
by the lender and reimbursement track record and other factors.
The moneylender will adopt nearly 40-50%
of your net salary as availability for payment of EMI to serve all the home
loans, although it varies from moneylender to lender and there is no standard
norm. So, you should choose the right option for home loan.
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