All you need to know about Home Loans

With property prices always on an upsurge, affording a home is only possible when banks or other lending institutions give the facility of taking home loans for the property. With so many different components of the cost of a home, a house costs you more than you imagine it to be. The basic cost of the house, stamp duty and registration, VAT and other legal charges are all added up to make the total cost of the home to the home buyer.

home-loans

Banks have certain criteria set for determining the loan they can give to any individual, business enterprise or any industry. Not more than 80% of the total amount is given out as a loan. The rest of the amount has to be paid by the individual in the form of down payment and stamp duty, registration and VAT amount.

Here are some things that you should know about home loans:

Check out http://namratagroup.com/blog/sbi-cuts-home-loan-rates-25bps-attract-buyers-affordable-home-category/  to know the updated rates of home loans.