Top 10 Home Loan Tips

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Top 10 Home Loan Tips
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The Basics of Home Loan

• A home brings in a new lifestyle and new
  beginnings. For every Indian, home is an emotion
  that they can never do without. It is not only a
  feeling, but a sense of security and brings in
  social status. However, it is never easy to get
  home due to the large investment it needs. A home
  is not a quick buy as it takes a major portion of
  your income. Today, individuals are looking for
  their own homes because of the availability of a
  home loan. A home loan has turned dreams into
  reality. 

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Common Reasons for Home Loan Application Rejection

• Here are some of the common reasons behind
  rejection of a home loan application
• Poor Credit Score
• Failure in Meeting Eligibility Criteria
• Issues with the Chosen Property
• Submitting Incomplete Documentation
• Loan Application Rejection History

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Start saving money for the down payment

• However, home loan is a huge burden, as it is a
  costly and long-term commitment. It takes up a
  good share of your monthly income, and hence, it
  needs a lot of planning.

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Documents should be in place

• All your documents should be in place. Documents
  like your personal identification proof, income
  proof, bank account statement, and property
  papers. You need to have all the original copies
  of your documents.

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Understand things before you make a sudden
decision

• Use a home loan calculator to understand the EMI
  and rate of interest. It will help you to deal
  with the big and complicated calculations. A
  calculator will be a handy one to understand
  things before you make a sudden decision.

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Choose your loan provider

• Choose your loan provider after a lot of
  comparisons. Do not settle for the first approval
  that you get in a home loan. There are various
  options in the market. You need to look for at
  least some of the best options, and then settle
  for the best deal with the low rates.

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Settle for a low rate so that the EMI is low

• Track the market interest rates. If you gain
  enough knowledge about the prevailing market
  rates, you can easily fetch the best rate without
  being at loss. Always settle for a low rate so
  that the EMI is low.

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• A home loan is a big commitment. It goes on for
  years and the loan amount is very high. You need
  to plan your finances accordingly so that you can
  finish off your debt in time. Use a home loan
  calculator to take a better decision.

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Clix Capital Services Private Limited

• Address 4th Floor, Kailash Building, Kasturba
  Gandhi Marg, Connaught Place, New Delhi-110001
• Call us 1800 200 9898
• Email us hello_at_clix.capital
• Website www.clix.capital

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