In the recent times, financial
market is abuzz with various home
loan options being
thrown at the prospective homebuyers. Before a deluge
of home loan
options confuses you, you need to remove
certain cobwebs from your mind and be sure of your priorities.
The right home
loan option for you is the one that fits
your budget, i.e., your present and anticipated future
financial health.
The rate of interest is the first and most important
consideration for any home loan seeker. Over the years,
we have seen a dip in the home loan interest rates, which
is a trigger to the recent real estate boom. You have
the option of fixed or adjustable rate of interest on
the mortgage.
The percentage of fixed
interest rate mortgage is pre-determined
at the time of taking home loan and remains fixed till
the last installment is paid. The percentage of adjustable
or variable interest
rate mortgage fluctuates throughout
the loan term as per government policies and economic
conditions prevalent in the country. You should opt for
the plan that best fits your financial health. Obviously,
it involves some calculations and informed estimates.
Basically, you have to counterweigh the amount and installments
with the income you’re going to derive during the
loan period.
The term of loan should again reflect an astute thinking
on your part. As per your financial health, you can opt
for short loan period with hefty installments or longer
loan period with relatively smaller installments.
A good financial company will educate you about the
benefits that’ll accrue you under different home
loan plans. These benefits could range from tax sops,
no-penalty option, pre-payment schemes, good credit benefits
etc.
We offer best home
loan options in the industry with
lowest service charges and highest value for your investment.
*Please note: This information
is only for general use only and may not apply with Stubbs
Finance's terms and policies. Please speak to Stubbs
finance for all information regarding your loan and
loan advice.
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