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When you want to buy a house, the chances of paying in cash
are very slim and a average person usually has to take a
housing loan. It depends on your financial position on how
much you make down payment and for how much loan you will opt.
The more you make down payment the less you will have to take
loan and hence you end up paying lesser interest.
While making down payment you should also see whether you are
earning more by way of investment. In such case you can make
less down payment and more investment so that the amount you
earn through your investment can be utilized for paying your
loan installment and you become debt free much before.
There are many banks offering you loan, it is therefore
important to check interest rate of all these banks. You can
then shortlist few banks which are offering housing loan at
low interest. There are many other factors which differ from
bank to bank like the loan tenure offered, terms and conditions,
loan fees, pre-closure charges etc. After comparing all these
you can decide which bank's offer is the best and proceed
accordingly.
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