Resources
Why Uncle Sam Wants You ...To Purchase a Home!
By Nef Cortez
One of the best tax breaks that the United States Tax Code allows for is the deduction of mortgage interest and property taxes paid on one=s personal primary residence. Over 66% of Americans enjoy Read more...
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Resources
Home Building - Size and Cost Considerations
By Guest Author
As you begin to conceptualize the master plan of your new home, one of the first things you have to do is figure out how much of a house you can afford to build, including the cost of the land and Read more...
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Resources
Home Equity Loan: What You Should Know
By Bill Darken
Many people are talking about a home equity loan, at work, weekends and even at the dinner table. Why is it the flavor of the month and what should you know about a home equity loan to ensure you Read more...
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Availing Home Loans in India
By Aditya Jaiswal
To own a is the ultimate dream that we cherish during our professional life. But to own one, in today’s rising real market conditions, is a difficult proposition for the common man. To buy or to construct a house require huge capital investment, and in today’s norms it is next to impossible to invest at a one go, or even if you have enough disposable income it is not sensible to invest lump sum.
To help people sort out the financial difficulties that they are facing while buying, constructing, renovating or expanding their houses, housing finance companies are offering variety of loan services to the Indian consumers that are tailored to suit their requirements.
The Indian financial sector which is supporting the growing real estate market has become more or less organized and transparent in recent years, as it is being governed and regulated by the rules set by the Reserve Bank of India (RBI). Despite all the sanctions and regulations being levied by the RBI on banks and financial institutions, there is hardly any lessening impact on loans interest rate burden on buyers. However, the only
consolation that buyers seem content with is that loans are still cheaper than it was ten years ago. For buyers the interest rates which now hover between 9 to 10 per cent are comparatively lower than the previous market norm of 16 to 17 per cent.
It is estimated that demand for real estate properties will remain steady at the currently high levels and it is likely that the real estate market will grow 30% every year because of the improving economic environment and high purchasing powers of the Indian consumers. If this condition will remain steady for at least 10 years, more loans and financial services providers will enter the market, thus bringing more competition among the current batch of financial providers including ICICI Bank, HDFC, IDBI Bank and others. So the ultimate benefactors will be the consumers.
Even today, the existing loan providers are providing finest loan instruments like purchase loans, construction loans, improvement loans, extension loans, conversion loans, NRI loans, equity loans, and others. They are keen to make the process of procuring the loans as easy as possible for the consumers. So they are offering free loan advice, tax benefit options, and other services.
However, the terms and conditions for a loan vary from one loan provider to the other. So it is sensible on your part to do a comprehensive research before availing loan services from a provider.
Aditya Jaiswal, advisor of home loans for NRIs, is an associated editor with the site: www.guide2homeloan.com. The site is an online portal to provide home loan advice on home loans in India including types of home loans in India, home loan interest rates in India provided by home loan providers in India.
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