What is a Home Loan? It is basically a monetary assistance offered by a bank or other financial institutions to fulfil your residential needs. In this transaction, the purchased home itself stands as ‘security’ until you pay back the entire loan amount with interest.
When someone avails a home-loan, they have to follow various rules for the same. These rules may differ from institution to institution however; the very basic requirements are as follows:
Before availing a home loan, you should keep in mind the following factors: