Benefits of Applying Online
When Banks Compete, you win.
Apply for a Home Loan at ApnaPaisa and we will match your requirements with the best offers from our network of over 400 service providers. We will get a maximum of five providers to compete for your business. WHEN BANKS COMPETE YOU WIN. You can then decide which home loan is best for you based on:
- Lowest Interest Rate
- Lowest EMI
- No Pre-payment charges
- Lowest Processing Fees
- Maximum Eligible Loan Amount
- Mandatory Documents Required
- Lowest Processing Fees
Or any other factor that is important to you.
Negotiating Tips
1) If you have a good credit record and your income is sufficient to justify the loan you can negotiate on interest rates. You can also try and get Processing fees or legal or valuation fees reduced or completely waived.
2) If you go for a floating rate loan then pre-payment charges are not payable.
3) When interest rates are high and are expected to go down you should go in for a floating rate loan as it makes no sense to lock into high fixed rates or the so called Dual rate loans where rates remain fixed for a couple of years before shifting to regular floating rate loans. Please review this decision at least once every 6 months
4) Take term insurance and critical illness and accidental disability policy for the full loan amount to make sure you or your loved ones don't have to worry about loan repayment should you die or are disabled due to a critical illness or accident. You cannot be forced to buy this policy from the insurance company chosen by the lender - you should choose your own insurer.
Home loan interest rates: Real estate sector set to consolidate
Indian realty industry set to consolidate.Apnaloan.com Research Bureau
10 Aug 2007
Indian real estate sector, the growth of which has been constrained by rising interest rates and falling inflow of funds, is now set to consolidate, industry experts feel.
"For big developers there is no impact of rising interest rate but small players are finding it difficult to raise money for their proposed projects. They would need to sell their projects to big developers," said, Ansal API Vice-President (Marketing) Kunal Banerjee, was quoted in a Business Standard article. Distress sale of projects is already happening, he said, adding the industry would witness more of it in days to come.
Seeking to check excessive capital inflows in real estate sector, the government last month decided to bar developers from raising money abroad to develop integrated townships.
Though tightening of External Commercial Borrowing (ECB) norms was related to only integrated townships, the spill-over effect is felt across the sector.
Besides, RBI has raised risk weights on housing loans, followed by interest rate hikes to curb demand in the sector.
Edelweiss Capital Senior Vice-President George Mathew was also quoted as saying that RBI is squeezing all sources of funds gradually to rein in inflation and a possible correction in this sector could be in the offing.
"Higher funding cost is expected to reduce attractiveness of real estate projects, reduce the land banking run and bring prices down," he said, adding debt financing is not available for land acquisition.
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