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.
Realty fund low cost money scare for builders, developers
Realty fund low cost money scare for builders, developers,private financers,Saffron Asset AdvisorsApnaloan.com Research Bureau
11 Apr 2008
The real estate sector has run out of the realty funds which provide low cost money to execute building projects.
According to developers and real estate consultants, the cost of borrowing has shot up by over 100-250 basis points since January 2008.
This shortage could lead to stalling many realty projects and force developers to abandon projects.
To meet this requirement, as a short-term measure, realty developers and builders might consider freeing up existing assets to complete the ongoing projects.
Mumbai-based developer Orbit Corporation plans to raise Rs 150-200 crore by selling a part of its land bank.
Omaxe is looking for around Rs. 2,000 crore of "external funding" for its projects.
Some builders have turned to private financiers who charge exorbitant interest rates ranging between 18 and 25 per cent.
However, according to a media report, an official of Saffron Asset Advisors said that the credit crisis is a transient phase and will get incompetent players out of the system.