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PRATHMIK SHALA MA FARAJ BAJAVTA BP.ED, DPED, BPE, CP.ED, ATD,
LAYKAT DHARAVTA SHIKSHAKO NE UCCH PRATHMIK 6
THI 8 MA VIKALPA AAPVA TATHA ANYA PRASHNO UKELVA BABAT LATEST LETTER
PRATHMIK SHALA MA FARAJ BAJAVTA BP.ED, DPED, BPE, CP.ED, ATD,
LAYKAT DHARAVTA SHIKSHAKO NE UCCH PRATHMIK 6
THI 8 MA VIKALPA AAPVA TATHA ANYA PRASHNO UKELVA BABAT LATEST LETTER
Buying a home is dream for many people. Owing to the rising
price of properties, it has almost become impossible for an average earning
person to buy a home on a lump sum payment. Therefore the concept of home loan
has come in trend. There are plethora of housing finance companies and equal
number of banks that offer home loans these days. The task of selecting one
company and one offer for home loan amidst the thousands available options have
become a very complex task owing to the burgeoning housing finance market in
the country. Apart from this, there are intricate business jargons and
technicalities that make this task more difficult. Explore here the basics of
home loan technicalities, so that when you apply for the home loan next time, you
can understand the basics and help yourself remain away from the duping
elements in the market.
Home loans are usually accompanied by the following
additional costs: a) Processing fee: It's a fee payable to the lender on
applying for a loan. It is either a fixed amount not linked to the loan or may
also be a percentage of the loan amount. b) Prepayment Penalties: When a loan
is paid back before the end of the agreed duration a penalty is charged by some
banks/companies, which is usually between 1% and 2% of the amount being pre
paid. c) Commitment Fees: Some institutions levy a commitment fee in case the
loan is not availed of within a stipulated period of time after it is processed
and sanctioned. d) Miscellaneous costs: It is quite possible that some lenders
may levy a documentation or consultant charges..
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