The Pros-Home Loans

Buying our own home is a dear dream that we all hold close to our hearts. However, we might not possess the required amount to get the job done. Acquiring a home loan has become so much easier. Today, the rules and the policies are more open and flexible and are tailored in such a way that it appeals to everybody.

Easy to pay installment schemes has reduced the complication of  borrowing by large means. To leverage your home loan approval chances, first meet the basic eligibility criteria and the rest will eventually fall in place. 

·         Consider these two pointers for your long-term benefit:

Beware Of The Interest Rates

In your eager to claim for a home loan soon, do not make the dire mistake of agreeing to pay high EMIs whatsoever. What you are doing is digging yourself a grave. High EMIs are like a death trap. May be you get the needed money for now. BUT! Your debt to pay heavy interest month after month might choke your funds further and leave you helpless.

·         Consider The Likes Of Your Future:

Do not claim loans on probable assumptions. Hike expectations in the future, extra perks etc., should not be the basis while applying for a home loan. Your present financial status is what matters and that should be the ground when you consider to go for a home loan. It is good to be positive but this is not the right time to put your optimism to play. Realize that you are running a high risk when you are moving on chances and considering the future prospects to acquire a loan now can fire back and put you in grave danger.

HOTSPOT PRIOPERTIES AND RESIDENTIAL AREAS IN MUMABAI.

There is no getting around it Mumbai's property market is legendary. .Three factors drive the property investment pattern in Mumbai are demand, price points and growth prospects.

WADALA

Wadala became the center for attraction because it signifies some of the better lifestyle elements which makes life in this city more of comfortable and suitable.Having renowed institutions in its locality which includes the infrastructures of colleges , hospitals and malls also Wadala gained prominence as a residential destination because of its proximity to Bandra-Kurla Complex (BKC). However, with several infrastructure initiatives monorail and the Eastern Freeway , Wadala saw a rapid increase in residential demand, resulting in the doubling of property values over the last three years which has turned Wadala into a well concentrated area for property buyers.

BANDRA

Bandra especially Bandra west has caught an eye of every property buyer for holding high profile value and a high standard lifestyle. Having most commercial exposure and being one of the prominent ares of the west zone in Mumbai bandra has developed its heritage towards the margin of signifying moral value of lifestyle, living and western culture. Since it is next to the country's most prominent CBD, Bandra's real estate potential remains very high. It is a matter of prestige for every reputed developer to have a signature product in this micro-market.

CHEMBUR

Chembur, the central suburb of Mumbai, is one of the prime residential destinations in the Maximum City. Its close proximity makes commuting easy to business districts of Mumbai. Known for prominent landmarks Chembur is also one of the greenest localities of the city. With rapid infrastructural development, Chembur has witnessed large-scale residential development. With prices ranging between Rs 16,80017,500 per sq ft and an annualised appreciation to the tune of 15-18 per cent, Chembur remains an important investment hotspot.

Borrowing the loan process in a smarter way

While making a agreement of borrowing a loan from bank it should be seen that every element of the agreement is described in a prescribed way so that the buyer – YOU are not been cheated. Hence for this reason it is essential that the buyer or the borrower is known to the factors ,disturbing and making the internal changes in the Loan agreement. For this purpose ,The Buyer should act smart enough so is benefited in the process or is not cheated or thug by anyone in the market. This can be done with the help of understanding the following concepts .

1­ What is that ‘extra’ fees?

One of the additional costs one would incur while opting for a housing loan taken would be the processing fee that needs to be paid while taking the loan. This fee is collected by the bank for the multitude of expenses that the bank incurs and the fee is collected at the beginning of the loan tenure itself.

2­ Processing fee cuts:

Banks attract customers by reducing the processing fees. There are two ways in which this can be tackled. One is by abolishing the processing charges and the other way is to reduce the processing fee, thus benefiting the borrower. Both of them benefit the borrower, thus the banks have to be extra cautious before they come to a decision.

3­ Bigger Benefits:

Bigger Benefits are most considered by the large borrowers who borrow large amounts of the loan and accepting the lesser processing fees which allow them to make equal profits in the relative investments . Hence to a relative small amount the processing fees is considered to not be that lesser as compared to large borrowing. Hence small buyers are advised to take a close look at the fluctuating market demands and factors to Borrow Smartly.