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Taking A Personal Loan To Buy A Home


wealthymattersNow the general idea is that a body takes a home loan to purchase a house and a personal loan to defray marriage related expenses ,to take that vacation in Europe etc…..

Home loans are always secured loans. So the rate of interest generally tends to be much lower than almost any category of loan. And then of course for being such a good child ,the government gives you tax breaks too ! But there are cases where a personal loan is your best way forward to become a home-owner. Consider the following cases:

1.A place like Vasai-Virar might be one of the fastest growing regions in the MMR when it comes to lower priced homes that could also potentially make great capital investments. But start making enquiries and you will start finding out that a whole lot of properties are “Collector Passing” and that apart from the odd co-operative bank or the occasional patpedhi, no home loans to purchase such properties is possible from most lenders. Moreover, the interest rates of loans from these sources makes personal loans from major banks look attractive. Read more of this post

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Invest In What Really Matters


The video below compelled me to do this post, even as I am caught up in the super-duper rush of getting a couple of new businesses launched and pursuing a few more leads that look like good career-breaks. The video really gets us to focus on the things that really matter, in all the rush to make money and a name for oneself :love, family and relationships.

Read more of this post

Buying A House In Australia


wealthymattersBuying a house Down Under, is a dream for many people, and one they’ve had for years and years. However, for many, buying a house in Australia might remain a dream for a little bit longer if they don’t do all of the things needed to get approved.

If you’re looking to buy your first house or acquire a second property for rental or vacation, you should know that the market has changed a little bit over the past few years. That’s why it’s so important to take all of the right steps to make sure you get approved and find the best deal possible.

Use this guide to help you through the process of looking for and buying a home. Read more of this post

Mistakes To Avoid When Looking For Home Loan


Home Loan ChecklistBuying a home is one of the biggest decisions we can make in life. It is our single largest commitment in our lifetime. However, for people who are not financially ready, the process of obtaining the right type of home loan from banks is always a challenging task. If you can’t get proper financing, you may end up paying thousands in interest payment alone to the banks. If you will not take time to avoid these mortgage mistakes or if you have not been educated on what you should be doing to take control of your destiny as far as getting a home loan is concerned, you will end up losing your hard-earned money in the process.

If you are planning to invest, structuring a mortgage financing correctly is an even more difficult task because this may mean the difference between profit and loss. Below are the most common home loan mistakes that you need to avoid. Also check this checklist for home buyers by the Department of building and housing NZ. Read more of this post

The Home Loan Deposit


wealthymattersThe Reserve Bank of India (RBI) has decided to encourage banks and individuals to be actively involved in home loan deposits, a savings product that will help showcase the repaying ability of customers seeking to borrow money to buy a house.

The RBI feels that there is a felt need for financial innovation with respect to loan products and one such product could be savings-induced home loan or a home loan deposit.

The willing customer will be induced to generate a savings balance by way of monthly or periodic deposits. This will enable the creation of a track record for repayment of future home loan products. Once a customer reaches a threshold balance, financial institutions will consider sanctioning a housing loan. The balance in the product would act as a collateral or margin. The amount deposited every month would act as the basis of assessing repayment capacity of customers for calculating their monthly repayments.

Such a product will aid the Indian government’s efforts to promote affordable housing. The government has already laid out a plan to create 100 smart cities with the aim of “housing for all by 2020“ while reducing interest rates on home loans. This product may help lower interest rates as well, with better appraisal of potential borrowers.

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