After finding your
dream home, the next task is to choose the right home loan product for you. In
which, the interest rate is an important factor to consider when finalizing the
home loan. A little difference in the interest rate makes a great difference as
it is a huge investment. Here are some smart ways to choose the right home loan
product for you.
• Duration
Opt for shorter home
loan duration. It will help you to save much. If you go for a shorter home loan
product, for sure the EMI will be higher but if it is affordable to you then go
for it. With higher EMI, your principal amount payment gets paid off
earlier.
• Pay extra EMIs
Paying extra EMIs may
seem difficult. But it will help you to clear your loan earlier than you
expected.
• Pay off extra amount annually
Pay off some extra
amount annually on the loan which will help you to reduce the principal amount
as well as interest to be paid.
• Home loan refinance
Home loan refinancing
is also a great way to opt for.
Ladder Kerala, the trusted
builders in Calicut offers premium world-class living spaces, apartments in Calicut at its flagship residential project Ladder Kerala. The project, flats in Calicut, promising you a hassle-free comfort living in the lap of luxury in
the heart of the city.
To Know More Ladder Kerala
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