Home Loan Guide

Hidden Costs

• No Prepayment charges on Teaser rate loans Shift now!
  
Teaser rate customers are paying 1 - 1.25 per cent higher than what they would have paid if they were on floating rate home loan today. ......
• Unlike NHB, RBI does not allow pre-payment charges on teaser rate home loans.
  
NHB opened a loop hole for the housing finance companies that allowed them to continue to charge prepayment charges on home loans that had a fixed rate for a few months/years in the beginning. ......
• Home Loan: The Process
  
The various stages of a home loan, since application till the actual sanction. ......
• Are some regulations are more important than the others?
  
The biggest complaint today on Home loans is that banks link their floating rate loan products to their internal benchmark rates only and not to any external rate. Clearly this is one RBI regulation t ......
• To Fix Or To Float?
  
When applying for a home loan, opting for interest rates is a cause of dilemma. Should one opt for floating' or fixed' rates of interest ......
• Hidden/Other Charges in a Home Loan
  
Therer are other charges in a home loan ......

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Interest Rates

• Is this the end of the road for Teaser rate loans?
  
ICICI and HDFC have both let their 'special rate home loan schemes (popularly called teaser rate loans) lapse on November 30, 2010. ......
• The Base Rate regime - Will it make a difference?
  
Unlike the BPLR system, base rate system is designed to be more transparent. ......
• Credit Policy Review - April 20, 2010
  
The annual monetary policy for FY 2011 has clearly indicated its direction in favour of controlling inflation. ......
• Existing floating rate borrowers shift to a teaser loan, NOW!!!
  
What does CRR hike translate into for customers like you and me? ......
• Will Teaser loans give a shock to customers in 2013?
  
In the area of housing loans, teaser rates are increasingly being offered which is a cause for concern. ......
• Is it right time for me to prepay my home loan?
  
A common question that is asked these days by home loan borrowers is - Should I prepay my home loan? ......

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Eligibility Criteria

• Can live-in and same sex couples get them?
  
Though spouses in hetrosexual couples can apply for a home loan, same sex couples and those with live in partners cant. ......
• Is India a Single country ?
  
Is it really difficult to get a home loan even when you are eligible for it and have a good credit score? But what in case you want a property in some other city? ......
• Self Employed? Don't worry........
  
Banks have made all out attempt to make the lending activity simpler for entrepreneurs than what it was few years ago. ......
• Your Best Retirement Plan - Buy Another Home
  
This is not about the house that you are staying in, the house in question here is purely for investment purpose. ......
• Buying leisure property? Don't treat it as an investment!
  
Buy another house which is capable of being rented out and which can be a good retirement planning tool. ......
• Are some regulations are more important than the others?
  
Banks link their floating rate loan products to their internal benchmark rates only and not to any external rate. This is one RBI regulation that is not being followed. ......

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Process

• Home Loan: The Process
  
The various stages of a home loan, since application till the actual sanction. ......
• New Year
  
You begin the process with the enquiry with the lenders. Then negotiate with them to get the best interest rate. ......
• Picking up the pieces slowly but surely!
  
There is a lot of misconception about it being impossible to rebuild the credit history. However, it isn't impossible although it may be a slow process. Here's what you need to do! ......
• Re-development bug will hit the cities as the real estate prices (and FSI) goes up.
  
Re-development bug will hit the cities as the real estate prices (and FSI) goes up. ......
• Home-Savers
  
Homesavers are products offered by banks with an EMI break up and are also called off0set loans ......
• Balance transfer on home loans; Weigh the option thoroughly!
  
Balance transfer on home loans; Weigh the option thoroughly! ......

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Tax Implications

• DTC impact on residential house property
  
Some respite finally for the property owners having a vacant property. There will be quite a positive impact for both for actual users as well as investors. ......
• You can claim both Exemption for House Rent Allowance and deduction for interest on home loans
  
Claiming tax deudction benefit on home loan interest is delinked to tax exemption on HRA. ......
• New Direct Tax Code
  
The Direct Tax Code (DTC) is a major evolutionary step in direct tax history of the country , which is all set to change the entire financial landscape of India. ......
• Tax deduction benefits on loan repayments on more than one property
  
Tax deduction benefits on loan repayments on more than one property calculations ......
• Loan Amount Eligibility
  
Several factors besides your income will have an impact on the home loan amount you are eligible for. ......
• Salient Features of Service Tax Circular No.108/02/2009 Dt. 29th January 2009
  
A property buyer will not have to pay servive tax, as clarified by the Service Tax Circular No.108/02/2009 Dt. 29th January 2009. ......

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Decision-making Corner

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Did you know...?

• No Prepayment charges on Teaser rate loans Shift now!
  
Teaser rate customers are paying 1 - 1.25 per cent higher than what they would have paid if they were on floating rate home loan today. ......
• Unlike NHB, RBI does not allow pre-payment charges on teaser rate home loans.
  
NHB opened a loop hole for the housing finance companies that allowed them to continue to charge prepayment charges on home loans that had a fixed rate for a few months/years in the beginning. ......
• Home Loan: The Process
  
The various stages of a home loan, since application till the actual sanction. ......
• Can live-in and same sex couples get them?
  
Though spouses in hetrosexual couples can apply for a home loan, same sex couples and those with live in partners cant. ......

Read More >