Facts About Home Loans
A loan is a type of debt. The borrower needs to repay the lender the sum of money loaned part by part over time in order to clear the debt. Acting as a provider of loans is one of the main tasks for financial times. For other institutions, issuing of debt contracts such as bonds is a main source of funding. Bank loans and credit are one way to increase the money supply. Home loans are loans that are taken…
Understanding Housing/ Home Loans
1. For what purposes can I seek a first time home loan? You can generally seek a first time home loan for buying a house or a flat, renovation, extension and repairs to your existing house. Most banks have a separate policy for those who are going for a second house. Please remember to seek specific clarifications on the above-mentioned issues from your commercial bank. 2. How will your bank decide your home loan eligibility? Your bank will assess your…