Archive for January, 2008
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Rates of interest for housing finance
The rates of interest could be either fixed or floating, depending on the lending institution. The terms are self explanatory in nature and are very rarely interchangeable. Some lending institutions offer loan seekers a fixed rate of interest. This means the rate of interest remains unchanged for the entire duration or term chosen for re-payment […]
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Eligibility conditions for a home loan:
To qualify for a home loan, most of the lending institutions anywhere in the world require the person seeking the loan to be a citizen of the country. The loan amounts are not extended to foreigners. This makes it easier for the application of the rules and regulations set by the law of the […]
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Incentives offered by lending institutions
To lure the average middle class family, lending institutions have come up with some great frills and extras like:
a) Sanctioning of the loan amount without requiring the person to identify the property he or she is interested in as a prerequisite for eligibility. This enables you to close the loan deal first and then […]