Unicoins Helping You Make Informed Choices In Home Loan Finance
If you thought owning a home is a distant dream, we at Unicoins are here to tell you otherwise. Your dream of being a homeowner is closer than you thought with easy home loan finance options. But first, it is important to know what is home loan finance? Housing loans or home loans are financial loans that can be availed by anyone who is in need of funds to construct a brand-new house or to expand, repair or renovate an existing property.
The aim of a home loan from a finance company is to provide you with the financial freedom to own a house without breaking your savings or investments. Additionally, it allows you to continue focusing on other important goals like children’s education, retirement, etc. without having to dig into your current financial plans.
Avail The Best Home Loan Interest Rate Options With Unicoins
The market is crowded with lenders and loan schemes promising low-interest rates, flexible payments options, etc and finding the best home loan can be challenging. But, in order to choose the one that best suits you, it’s important to know there are other factors like credit score of the applicant, loan amount, repayment capacity and tenure that is considered before offering an interest rate. Additionally, loan schemes come with technical fine print that the end-user must be made aware of.
There are two types of interest rates offered in the market – Fixed and floating, that answers the most common question of ‘are home loan interest rates fixed’.
- Fixed: A fixed rate of interest is applicable at the loan disbursal and throughout the loan tenure. Owing to this, the loan EMI’s are constant too.
- Floating: In floating rates, it’s subjective to change depending on the benchmark rate published by the lender. This rate is dependent on RBI policies and other external factors.
With Unicoins, be assured to get the best home interest rate in India. A part of our process is to bring the best to you, hence, we carry out a detailed comparison of home loan interest rates, before offering a tailor-made package suitable to your needs. We understand the factors that influence how the home loan interest rate is calculated and marry your profile to a scheme that benefits you.
Right here, your dreams to own a home can come true. With us, you don’t have to worry about how much home loan I can take, instead tell us about your plans while we match your fund needs with a home loan tailored for you. There are many factors involved that influence a home loan eligibility and is probably the first step to consider when wondering how to determine how much home loan I can afford. To do this, one needs to calculate the Debt Burden Ratio which will comfortably answer your question of what home can I afford. The factors to calculate this include, but are not restricted to, are:
- Age criteria
- Existing loans
Leave it to us experts to do math while you enjoy counting the many years of home owning bliss.
Affordable housing is a worldwide problem that is being taken into consideration more seriously. In India, the government is taking a focused interest by including affordable housing in our national agenda. The meaning of affordable housing is any housing that falls into any one of the criterion for affordability, which could be based on family income, size of a housing unit, or the preferred EMI size and other such factors.
Some of the benefits of affordable housing include:
- Provides overall stability
- Free up resources for food and healthcare
- Foundation for children to thrive
With plenty of affordable housing in India, Unicoins helps you realise your dream of owning one with our loan scheme options.
There’s no barrier to who can apply for a home loan, however, it is subjective to factors that heavily influence the common question of what kind of home loan can I get approved for. When applying for a home loan, most lenders collect critical information like property cost, employment status, date of birth, PAN and residence Pincode. At Unicoins, we then compare the best home loan offers in the market, sorting them on your maximum chance of approval. Another frequently asked question by borrowers is ‘Can I get approved for a home loan in another state’, the answer is – Yes!
Additional Benefit Of Home Loan Deduction In Income Tax
Did you know, availing a home loan allows for a home loan deduction under 80c as an Annual Tax benefit? Under the home loan interest deduction in the income tax section, you can claim tax deductions on the principal and interest components of your housing loan. This makes an attractive deal for borrowers who can save on annual tax through housing loan deduction as per income tax regulations.
Unicoins is your go-to for all services related to home loans, interest rates and packages for the same. We build on your dreams with our wealth of knowledge, market experience and expertise.