Owning a home individually is definitely not a cup of tea for many aspiring homeowners. Thus, the need to opt for a home loan with the longest tenure is the one big thing that comes to your mind. But, now with the option to avail huge tax benefit you as a home buyer must look for a smart option and i.e. having a co-borrower to avail home loan.
Every loan borrower has the determination to pay-off the home loan amount as soon as possible. But, paying off the last and final EMI [Equated Monthly Installment] is not enough to get away with the property papers kept in the bank custody. In fact, there are multiple formalities that you should complete to make life free from the financial assistance that was availed for buying a home.
Scroll down the page and go through the other important things to do after the closure of your home loan.
A CIBIL score or credit score is a three-digit number ranging from 300 to 900. It reflects how well or improperly a person has dispensed his/her loans or credit cards in the past. It plays a very important role while applying any kind of loan may be home, vehicle or personal. It is one of the important tools that lenders or banks keep in mind while passing any loan application form.
However, misconceptions about credit score among individuals continue to exist. Scroll down and read this blog, to know 5 common myths and misconceptions surrounding credit score:
Today the maximum number of home buyers look for a fresh home means the newly/fresh constructed home but there are many who won’t mind buying a resale property. So, if you are confused about which one to opt for then let us tell you that purchasing a resale property/flat comes with their own benefits in comparison to the freshly constructed properties.One mainframe advantage of buying a resale residential property is that the prospect is likely to own a home which is prefixed with various fixtures such as fans, lights and hanging loops. Apart from this, the essential for homeloan on the purchase of same are listed below: