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.
India's first housing price index - NHB Residex - launched
Finance Minister P. Chidambaram on July 10 launched India's first official housing price index, called NHB Residex.Apnaloan.com Research Bureau
10 Aug 2007
Finance Minister P. Chidambaram on July 10has launched India's first the official housing price index, called NHB Residex. The index, developed by National Housing Bank (NHB), has . The index has been introduced as a pilot in five cities --Mumbai, Bhopal, Delhi, Kolkata and Bangalore. The index will cover different localities in each of the cities for five years. NHB is the regulator and apex bank for housing finance.
The index will track the movements of residential property prices and can be used to estimate house wealth, a measure hitherto not available in India. Bank and housing finance companies can also use it in portfolio evaluation and indirect security for their housing loans.
In the next phase, NHB the regulator will collect data indices for 35 cities/towns with a population of more than a million as per the 2001 census for creating indices. These indices are planned to be prepared on a half yearly basis.
Later on, the list will be expanded to cover 63 cities covered under the Jawaharlal Nehru National Urban Renewal Mission.