Best Home Loan Financing Support Provider Company
In India, buying a home is considered a transition to adulthood. However, with escalating real estate prices, finding the right home within your budget can be a tedious process. It is why several banks and financial institutions offer affordable home loans to help the citizens of the country in realizing their dream of owning a home. With an affordable home loan, you can easily fund your home purchase, given that it is not a wise idea to invest all your savings into buying a home. (Best Home Loan Financing Company)
However, in recent years, the demand for cheap home loans has increased monumentally. To cater to the increasing number of home loan requirements, many banks have come up with the concept of introducing different loan schemes to help applicants secure the best and most affordable home loans. Agrim Housing Finance experts first assess your eligibility for the loan and the category you can fit in before securing you one. The following are some of the cheap home loans that Agrim Housing Finance offers.
#1: The basic home loan
This is a standard home loan offered to applicants looking to fulfil their dreams of purchasing a home. Such affordable home loans enable you to borrow money from the lender for buying a property of your choice. If you meet the eligibility criteria for the loan, the lender can approve 50-90% of the cost of the property as a home loan. After you’ve purchased the property, you can start repaying the loan to the lender in monthly instalments via EMIs.
#2: Home construction loan
In case you already own a piece of land and wish to build your home on the same, you can apply for a home construction loan. The amount is approved by the lender depending on the construction cost. Unlike the basic home loan, where the lender receives 50-90% of the loan amount from the lender, a home construction loan is generally disbursed in instalments depending on the progress made on the project.
#3: Home extension loan
If you already have a home and are looking to extend it further, you need to apply for a home extension or improvement loan. Such affordable home loans help you renovate your existing home.
#4: Home loan balance transfer
If you already have applied for a home loan and are repaying it now, but you feel you can apply for a different home loan scheme to lower interest rates or avail of other benefits, then you can apply for a home loan balance transfer. Borrowers often change lenders to reduce interest rates and to boost savings. However, you need to consider other costs like processing fees and more before applying for it.
#5: Pradhan Mantri Awas Yojana
Under the PMAY scheme, first-time homeowners can get home loans at subsidized interest rates. This way, you can save as much money as you want and avail cheap home loans. Additional benefits like the extension on the home loan tenure are also available under this scheme. However, only registered financial institutions can offer these loans. Contact here.
