There are few mistakes that many borrowers do while taking loan against property. During applying loan against property, borrower should compare the interest rates of different banks and also read pre-payment policies clearly for avoiding any mistake.
Before you take a loan against property, here are some things you need to look out for, interest-wise!
Isn’t it great that besides providing you the shelter, your home can also prove its value even in troublesome situations? With Loan against property you can use your house, not just for residential purpose but to solve your other financial crisis too.
Exclusive Cashback Offer on all Personal Loan, Home Loan and Credit Cards Availed on CreditNation
It’s not just the security of shelter that a house gives you – it can help you in so many more ways!
The business of reporting consumer credit is highly regulated. Your Credit Information Report (CIR) plays a large part in the loan application process.
Loans or credit agreements can vary in terms of interest-rate structure, transaction fees, late penalties and other factors. A standardized computation such as the APR provides borrowers with a bottom-line number they can easily compare to rates charged by other potential lenders.
Every loan borrower has different financial objectives and priorities in life, and attitudes towards risks. Many consumers often find themselves in a dilemma when it comes to choosing between secured and unsecured loan.
Consumer’s past credit actions comprises credit history. Potential creditors, such as mortgage lenders and credit card companies, use the information in a consumer’s credit history to decide whether to extend credit to that consumer.