Non-Clinical Support » Personal Finance

Home Loans

Basics

Food, clothing, shelter are the three basic needs of every individual. But to most, owning a home was just a dream.

The real estate boom and steadily rising capital values are now making it next to impossible for most people to fund their own homes.

The good news is that banks and financial institutions are offering aggressively competitive rates on home loans, making it possible for more people to own the home of their dreams. Many builders have tie-ups with banks or financial institutions so that prospective buyers are assured of housing loans without any hassles.

Taking a home loan serves two purposes. One, of course, is that you get to buy your own home and pay for it in easy installments. The other is that you get several benefits under the Income Tax Act. And since these sops are what make a home loan different from other loan products, it makes sense to take a long, hard look at them.