{"id":670,"date":"2017-10-25T07:16:36","date_gmt":"2017-10-25T07:16:36","guid":{"rendered":"https:\/\/www.antworksmoney.com\/blog\/?p=670"},"modified":"2024-11-12T18:04:58","modified_gmt":"2024-11-12T12:34:58","slug":"home-loan-make-right-choice","status":"publish","type":"post","link":"https:\/\/www.antworksmoney.com\/blog\/home-loan-make-right-choice\/","title":{"rendered":"Home Loan: How to Make the Right Choice"},"content":{"rendered":"

For most of us, buying a home is a once in a lifetime opportunity which we only get to seize with the help of a home loan. Once you have finally selected your dream home, the next important and the often complicated step is to select the right lender.<\/p>\n

Almost every major bank and financial institution now offers home loans, making it difficult for the buyers to select one. If you are struggling with the same dilemma, the tips mentioned below can help.<\/p>\n

    \n
  1. Type of interest<\/strong><\/li>\n<\/ol>\n

    Most lenders offer home loans<\/a> on fixed as well as floating interest rate. With a fixed rate, the interest rate remains same throughout the loan tenure whereas, with a floating rate, the rate can be increased or decreased on the basis of the base rate decided by the RBI. While fixed rates are better for long-term financial planning, floating rates can benefit significantly if the RBI reduces the base rate. Consider both the types of interest and compare the pros and cons to make the right decision.<\/p>\n

      \n
    1. Cheapest might not always be the best<\/strong><\/li>\n<\/ol>\n

      Lenders offer home loans at different interest rates slightly vary from one another. While even the smallest difference in the interest rate can have a major impact on the total amount you repay to the lender, do not let the interest rate be the only decisive factor when searching for a lender. The cheapest home loan is not necessarily the best. Check other terms and conditions of the lender before making a decision.<\/p>\n

        \n
      1. Check the reputation of the lender<\/strong><\/li>\n<\/ol>\n

        Another handy way to know whether or not you are selecting a good lender is checking their market reputation. With the help of the internet, this can now be done easily. Check the website of the lender, customer reviews, etc. to get a better idea. There are now several forums where you can get free advice from loan experts. Use such forums to get the right advice. You can also look for recommendations from your relatives, colleagues, and friends who might have recently taken a home loan.<\/p>\n

          \n
        1. Check the processing fee and repayment charges<\/strong><\/li>\n<\/ol>\n

          Lenders charge a processing fee to process your loan application. This can range from 0.5%-2% of the loan amount. See if you can find a lender that doesn\u2019t charge a processing fee. If you are unable to do so, ensure that you select one with a minimum fee. The lender should also allow you to prepay the loan in parts and in full without any additional charges. Lenders generally have a fixed timeframe after which the borrowers can prepay the loan.<\/p>\n

            \n
          1. Select one who is transparent<\/strong><\/li>\n<\/ol>\n

            When you sit with the loan officers of the lender to discuss your loan, try to understand how transparent the terms and conditions of the lender are. Also, the things that the loan officer discusses with you should exactly be similar to what is written on your loan documents. To achieve monthly targets, loan officers often make unrealistic promises. Avoid such deception and get everything you discuss with the loan officer in writing.<\/p>\n

              \n
            1. After sales service<\/strong><\/li>\n<\/ol>\n

              As home loans<\/strong> generally last for several years, it is very important to make sure that the lender offers good after-sales services too. Be it discussing a query or changing the EMI date, the responsiveness of the lender is of major importance. There should be multiple ways to communicate with the lender and it would be better if the lender has a branch close to your home.<\/p>\n

                \n
              1. Look for some loyalty benefits<\/strong><\/li>\n<\/ol>\n

                If you have a long-standing savings account in a bank, you can consider the same bank for your home loan<\/a>. Even if you have taken a loan previously from the lender, choosing the same lender can prove beneficial as the lender might offer some loyalty benefits. The benefits can be in the form of a reduced interest rate, zero processing fee, etc.<\/p>\n

                Buying a home of your own is dream come true for most Indians. With respect to the money involved and the duration of the home loan, scrutiny is of utmost importance. Exercise all your rights as a borrower and spend some time on the process to select a lender which enables you to fulfill your dream in an efficient and hassle-free manner.<\/p>\n","protected":false},"excerpt":{"rendered":"

                For most of us, buying a home is a once in a lifetime opportunity which we only get to seize with the help of a home loan. Once you have finally selected your dream home, the next important and the often complicated step is to select the right lender. Almost every major bank and financial … Continue reading “Home Loan: How to Make the Right Choice”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":671,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[56,48,57],"class_list":["post-670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-home-loan","tag-home-loan","tag-home-loan-interest-rates","tag-home-loan-offers"],"yoast_head":"\r\nHome Loan: How to Make the Right Choice<\/title>\r\n<meta name=\"description\" content=\"Is home loan is the right choice for asset investment? Let's see what are the tips shared in this blog for availing a home loan\" \/>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.antworksmoney.com\/blog\/home-loan-make-right-choice\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Home Loan: How to Make the Right Choice\" \/>\r\n<meta property=\"og:description\" content=\"Is home loan is the right choice for asset investment? Let's see what are the tips shared in this blog for availing a home loan\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/www.antworksmoney.com\/blog\/home-loan-make-right-choice\/\" \/>\r\n<meta property=\"og:site_name\" content=\"Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments\" \/>\r\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/antworksmoney\/\" \/>\r\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/antworksmoney\" \/>\r\n<meta property=\"article:published_time\" content=\"2017-10-25T07:16:36+00:00\" \/>\r\n<meta property=\"article:modified_time\" content=\"2024-11-12T12:34:58+00:00\" \/>\r\n<meta property=\"og:image\" content=\"https:\/\/www.antworksmoney.com\/blog\/wp-content\/uploads\/2017\/10\/Antworks_Blog2.jpg\" \/>\r\n\t<meta property=\"og:image:width\" content=\"1320\" \/>\r\n\t<meta property=\"og:image:height\" content=\"660\" \/>\r\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\r\n<meta name=\"author\" content=\"Team Antworks\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:creator\" content=\"@AntworksMoney\" \/>\r\n<meta name=\"twitter:site\" content=\"@AntworksMoney\" \/>\r\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Team Antworks\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/home-loan-make-right-choice\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/home-loan-make-right-choice\/\"},\"author\":{\"name\":\"Team Antworks\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/person\/99145cefcc01e42af38c385eeecef0b7\"},\"headline\":\"Home Loan: How to Make the Right Choice\",\"datePublished\":\"2017-10-25T07:16:36+00:00\",\"dateModified\":\"2024-11-12T12:34:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/home-loan-make-right-choice\/\"},\"wordCount\":720,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#organization\"},\"keywords\":[\"Home Loan\",\"Home Loan Interest Rates\",\"Home Loan Offers\"],\"articleSection\":[\"Home Loan\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.antworksmoney.com\/blog\/home-loan-make-right-choice\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/home-loan-make-right-choice\/\",\"url\":\"https:\/\/www.antworksmoney.com\/blog\/home-loan-make-right-choice\/\",\"name\":\"Home Loan: How to Make the Right Choice\",\"isPartOf\":{\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#website\"},\"datePublished\":\"2017-10-25T07:16:36+00:00\",\"dateModified\":\"2024-11-12T12:34:58+00:00\",\"description\":\"Is home loan is the right choice for asset investment? Let's see what are the tips shared in this blog for availing a home loan\",\"breadcrumb\":{\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/home-loan-make-right-choice\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.antworksmoney.com\/blog\/home-loan-make-right-choice\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/home-loan-make-right-choice\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.antworksmoney.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Home Loan: How to Make the Right Choice\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#website\",\"url\":\"https:\/\/www.antworksmoney.com\/blog\/\",\"name\":\"Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.antworksmoney.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#organization\",\"name\":\"antworksmoney.com\",\"url\":\"https:\/\/www.antworksmoney.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.antworksmoney.com\/blog\/wp-content\/uploads\/2018\/03\/Logo-AntworksMoney.jpg\",\"contentUrl\":\"https:\/\/www.antworksmoney.com\/blog\/wp-content\/uploads\/2018\/03\/Logo-AntworksMoney.jpg\",\"width\":335,\"height\":328,\"caption\":\"antworksmoney.com\"},\"image\":{\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/antworksmoney\/\",\"https:\/\/twitter.com\/AntworksMoney\",\"https:\/\/www.linkedin.com\/company\/13288601\/\",\"https:\/\/in.pinterest.com\/antworksmoney\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/person\/99145cefcc01e42af38c385eeecef0b7\",\"name\":\"Team Antworks\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/6afb55cf81386baf97744c05fab72eb119a8574a923469f78eae31fde6ccac5f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/6afb55cf81386baf97744c05fab72eb119a8574a923469f78eae31fde6ccac5f?s=96&d=mm&r=g\",\"caption\":\"Team Antworks\"},\"sameAs\":[\"https:\/\/www.antworksmoney.com\/\",\"https:\/\/www.facebook.com\/antworksmoney\",\"https:\/\/twitter.com\/@AntworksMoney\"],\"url\":\"https:\/\/www.antworksmoney.com\/blog\/author\/admin-2\/\"}]}<\/script>\r\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Home Loan: How to Make the Right Choice","description":"Is home loan is the right choice for asset investment? Let's see what are the tips shared in this blog for availing a home loan","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.antworksmoney.com\/blog\/home-loan-make-right-choice\/","og_locale":"en_US","og_type":"article","og_title":"Home Loan: How to Make the Right Choice","og_description":"Is home loan is the right choice for asset investment? Let's see what are the tips shared in this blog for availing a home loan","og_url":"https:\/\/www.antworksmoney.com\/blog\/home-loan-make-right-choice\/","og_site_name":"Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments","article_publisher":"https:\/\/www.facebook.com\/antworksmoney\/","article_author":"https:\/\/www.facebook.com\/antworksmoney","article_published_time":"2017-10-25T07:16:36+00:00","article_modified_time":"2024-11-12T12:34:58+00:00","og_image":[{"width":1320,"height":660,"url":"https:\/\/www.antworksmoney.com\/blog\/wp-content\/uploads\/2017\/10\/Antworks_Blog2.jpg","type":"image\/jpeg"}],"author":"Team Antworks","twitter_card":"summary_large_image","twitter_creator":"@AntworksMoney","twitter_site":"@AntworksMoney","twitter_misc":{"Written by":"Team Antworks","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.antworksmoney.com\/blog\/home-loan-make-right-choice\/#article","isPartOf":{"@id":"https:\/\/www.antworksmoney.com\/blog\/home-loan-make-right-choice\/"},"author":{"name":"Team Antworks","@id":"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/person\/99145cefcc01e42af38c385eeecef0b7"},"headline":"Home Loan: How to Make the Right Choice","datePublished":"2017-10-25T07:16:36+00:00","dateModified":"2024-11-12T12:34:58+00:00","mainEntityOfPage":{"@id":"https:\/\/www.antworksmoney.com\/blog\/home-loan-make-right-choice\/"},"wordCount":720,"commentCount":0,"publisher":{"@id":"https:\/\/www.antworksmoney.com\/blog\/#organization"},"keywords":["Home Loan","Home Loan Interest Rates","Home Loan Offers"],"articleSection":["Home Loan"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.antworksmoney.com\/blog\/home-loan-make-right-choice\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.antworksmoney.com\/blog\/home-loan-make-right-choice\/","url":"https:\/\/www.antworksmoney.com\/blog\/home-loan-make-right-choice\/","name":"Home Loan: How to Make the Right Choice","isPartOf":{"@id":"https:\/\/www.antworksmoney.com\/blog\/#website"},"datePublished":"2017-10-25T07:16:36+00:00","dateModified":"2024-11-12T12:34:58+00:00","description":"Is home loan is the right choice for asset investment? Let's see what are the tips shared in this blog for availing a home loan","breadcrumb":{"@id":"https:\/\/www.antworksmoney.com\/blog\/home-loan-make-right-choice\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.antworksmoney.com\/blog\/home-loan-make-right-choice\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.antworksmoney.com\/blog\/home-loan-make-right-choice\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.antworksmoney.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Home Loan: How to Make the Right Choice"}]},{"@type":"WebSite","@id":"https:\/\/www.antworksmoney.com\/blog\/#website","url":"https:\/\/www.antworksmoney.com\/blog\/","name":"Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments","description":"","publisher":{"@id":"https:\/\/www.antworksmoney.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.antworksmoney.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.antworksmoney.com\/blog\/#organization","name":"antworksmoney.com","url":"https:\/\/www.antworksmoney.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.antworksmoney.com\/blog\/wp-content\/uploads\/2018\/03\/Logo-AntworksMoney.jpg","contentUrl":"https:\/\/www.antworksmoney.com\/blog\/wp-content\/uploads\/2018\/03\/Logo-AntworksMoney.jpg","width":335,"height":328,"caption":"antworksmoney.com"},"image":{"@id":"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/antworksmoney\/","https:\/\/twitter.com\/AntworksMoney","https:\/\/www.linkedin.com\/company\/13288601\/","https:\/\/in.pinterest.com\/antworksmoney"]},{"@type":"Person","@id":"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/person\/99145cefcc01e42af38c385eeecef0b7","name":"Team Antworks","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/6afb55cf81386baf97744c05fab72eb119a8574a923469f78eae31fde6ccac5f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/6afb55cf81386baf97744c05fab72eb119a8574a923469f78eae31fde6ccac5f?s=96&d=mm&r=g","caption":"Team Antworks"},"sameAs":["https:\/\/www.antworksmoney.com\/","https:\/\/www.facebook.com\/antworksmoney","https:\/\/twitter.com\/@AntworksMoney"],"url":"https:\/\/www.antworksmoney.com\/blog\/author\/admin-2\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/posts\/670","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/comments?post=670"}],"version-history":[{"count":3,"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/posts\/670\/revisions"}],"predecessor-version":[{"id":12524,"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/posts\/670\/revisions\/12524"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/media\/671"}],"wp:attachment":[{"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/media?parent=670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/categories?post=670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/tags?post=670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}