Archive for December, 2007
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What is EMI?
Equated Monthly Installment or EMI is the amount you are liable to pay to the lending institution every month. This is a regular monthly payment till the loan amount is paid back in full. The Equated Monthly Installment or EMI also comprises a portion of the interest as well as the principal. The Equated […]
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Importance of a home loan:
Ownership of a home is any average middle class person’s cherished dream. The purchase and moving into a dream house generally ranks among the top three things on the wish list of most people. Buying your own home eliminates the house hunting every few years, grumpy landlords and killing rents. With a dedicated and […]
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Types of home loans
• Home Purchase: These are the basic home loans where the purchase of a new home is financed.
• Home Improvement: These loans are given for repair work and renovations in a home that is owned by the person seeking the loan.
• Home Construction: These loans are available for the construction on purchased land
• Home Extension: These loans are extended […]