basics of home loan - a customer education initiative from dhfl
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Do you wish to purchase the house of your dreams? Are you worried that your savings are not enough to afford purchasing a new home? Home loans are the solution to all your financial worries when planning on purchasing a new house. The DHFL Home Loan Educational series has been has been specifically designed to explain to you the benefits and features a home loan offers. Find out all you need to know about the home loans by simply reading through this easy to understand presentation.Apply for home loans - http://www.dhfl.com/promotion/ghar-jaisa-loan-2/DHFL Education Video Series - http://www.dhfl.com/resources/home-loan-educational-videos/basics-of-home-loanTRANSCRIPT
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Basics of Home Loan – A Customer Education Initiative by DHFL
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Basics of Home Loan – A Customer Education Initiative from DHFL
DHFL Home Loans – www.dhfl.com
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Hello Sharma Ji! Long time! I didn't know you are still around.
DHFL Home Loans – www.dhfl.com
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Hello VinodJi.. Good Morning! Yes, where will I go!
DHFL Home Loans – www.dhfl.com
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I mean, you were moving to your new home right?
DHFL Home Loans – www.dhfl.com
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But.. But I have not been able to close the deal for a home!
DHFL Home Loans – www.dhfl.com
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Why? What happened?
DHFL Home Loans – www.dhfl.com
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Buying a house seems like something, which I can’t afford. I don't have enough savings to make the huge payment.
DHFL Home Loans – www.dhfl.com
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But why do you want to spend all your savings on your home?
DHFL Home Loans – www.dhfl.com
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What do I do then? I have no one else to support me!
DHFL Home Loans – www.dhfl.com
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Go for a Home Loan, instead.
DHFL Home Loans – www.dhfl.com
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k
Home Loan?
DHFL Home Loans – www.dhfl.com
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Yes. You can borrow from a Bank or Housing Finance Company for home purchase, construction or renovation.
DHFL Home Loans – www.dhfl.com
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And then repay, in regular installments along with interest.
DHFL Home Loans – www.dhfl.com
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What about the interest rate?
DHFL Home Loans – www.dhfl.com
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The interest rate is almost uniform across Banks and Housing Finance Companies
DHFL Home Loans – www.dhfl.com
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It depends on rate of interest offered by Reserve Bank of India.
DHFL Home Loans – www.dhfl.com
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However, the interest rate that the bank or housing finance company charges depends on the customer profile and his past credit profile.
DHFL Home Loans – www.dhfl.com
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Also, there are 2 types on interest rates – Fixed and Floating interest rates. The fixed rate of interest is fixed throughout the tenure.
DHFL Home Loans – www.dhfl.com
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The floating rate may go up or down depending on changes in the money market conditions and internal policies. The fixed rate is generally bit higher than the floating
rate when you first take the loan.
DHFL Home Loans – www.dhfl.com
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I will have to think on that. So will they give me the full amount that I need to purchase the house?
DHFL Home Loans – www.dhfl.com
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No! But, you can get up to 85% of the amount. Remaining 15% you can manage with your savings. I think that’s quite possible, right?
DHFL Home Loans – www.dhfl.com
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Yes. That can be worked out. But, I hope Home Loan will not be a burden for me.
DHFL Home Loans – www.dhfl.com
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I do not think so! Right now you are paying your house rent
DHFL Home Loans – www.dhfl.com
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while with the loan you will be paying EMIs.
DHFL Home Loans – www.dhfl.com
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Home Loan will not only help you own a home but will also get you a lot of tax benefits. Also, in time the value of your property will appreciate. You can choose to pay lesser
EMI by opting for a longer home loan tenure.
DHFL Home Loans – www.dhfl.com
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True. So, can anybody get a loan? And any amount?
DHFL Home Loans – www.dhfl.com
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Not anybody! They check the person’s age, occupation, income, repayment capability, credit score and property details before sanctioning the loan and its amount. The rate of
interest that they charge is also dependant on these factors
DHFL Home Loans – www.dhfl.com
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This is very simple! I think I should consider one right away. But I don't know how to go about it.
DHFL Home Loans – www.dhfl.com
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Don't worry! Watch out the next video to learn more
DHFL Home Loans – www.dhfl.com
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DHFL Home Loans – www.dhfl.com