Factors to be considered before opting for a home loan

Ram India Group - Pune

Ram India Landmarks Limited has earned a reputation for itself over distinctive creations in the real estate sector. The group indeed takes pride in announcing completed as well as ongoing projects in several parts of Pune that range from large realty developments to exclusive residential creations. Customer service has always been a priority for the group and each customer is personally attended and assisted right from concept to completion stage. Quality construction, affordable costs and prime locality presence is indeed what lures investors and customers towards properties by Ram India Landmarks Limited.

Some of tips that may be helpful before you opt for a home loan are –

• Do a detailed research - Modern day loans are made quite attractive for the buyers with low interest rates and additional schemes. Therefore it is better to educate yourself about the terms and conditions of each loan agreement so that you are prepared beforehand. Clarify all your doubts regarding the loan scheme before you finalize anything and don’t hesitate to ask questions to the sales person even if you have the smallest difficulty understanding a particular clause.
• Negotiate on interest rate- Yes this is possible! Banks and financial institutions may always state that interest rates are non-negotiable, but yes sometimes they do make slight adjustments to give a best deal to you. Most often this is done once you have finalized the property and need to buy it soon, apart from this, during month end when sales targets are supposed to be achieved you can indeed drive a good deal.
• Check EMI’s thoroughly – Studying EMI’s well in advance is not a bad idea. Calculate it thoroughly setting aside your regular monthly expenses. Once you have calculated all parameters only then decide to opt for a home loan as this would run into quite a long duration. 
• Read the agreement patiently – It is indeed important that you read the fine prints carefully before agreeing and signing upon any document. Do not go by what the sales agent or financer says, as in the end it’s the rules stated on the signed document that would be considered and not that unknown fellow nods his head to. Also, check for additional charges inclusive if any to process you loan application.