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A home loan is availed to buy a residential property. The bank takes the property you buy as collateral. It is released only after the complete payment, which includes the home loan interest and principal amount. The maximum repayment tenure for a home loan can be up to 35 years. How is EMI calculated? In today’s time, you can easily calculate the home loan EMI through the home loan EMI calculators. All you need to do is fill the principal loan amount, tenure of the loan, and the rate of interest. The calculator will then give you the monthly EMI along with a detailed amortization of the table which contains the principal opening and closing balance, principal and interest component in each EMI. What is home loan interest rates? There are two types of interest rates that a bank fixes for the loans it advances. a) Fixed-rate: if you choose the fixed-rate, then your EMI...

A home loan is not just about financing your purchase for a new ready to move in the house or for construction of a new house. There are various types of housing loans available , fulfilling specific housing finance needs. Check out their list below:  1. Home Loan: This is the popular and most common type of home loan. This loan is availed to buy a ready-to-move-in property or an under-construction property using funds availed through bank or NBFC. The loan amount depends on the value of the property. 2. Home Loan for Construction: If you have a vacant plot of land, then you can avail loan to construct your own house. The funds acquired will be used to cover the construction cost. The loan amount depends on the cost of construction. 3. Home Improvement Loan: You can avail loans to make improvements in your existing home as well as renovation, furnishing, or altering the structure of the house. 4. Land purchase loan: You can also avail a loan for purchasing a plot of land. ...

Getting a home loan is very easy nowadays if you meet the eligibility criteria as prescribed by the lender. A home loan can be availed by a salaried individual, self-employed professional, or any woman who is about to deliver a baby. There are certain misconceptions and myths regarding pregnant women availing home loans, which make it pretty tricky for women to avail of a housing loan . Some Difficulties to Avail for Home Loan are:-  Like there is a myth that pregnant women would not be able to pay back the loan to the lender, which is not at all correct. If she was a salaried woman and had a considerable amount of savings, she can pay off the loan back in time. Another hurdle that comes in the way of pregnant women is the general assumption f the lender towards the women, and it is her faithfulness towards the job after giving birth to the baby. If any lender does not approve of the home loan to pregnant women, she can apply for a home loan with an NBFC to get better flexib...