• Buying a house is one of the biggest dreams come true for most people and is an extravagant affair altogether. Imparting life to such a dream requires a lot of effort from the buyers’ end and the best one can do to accommodate a home in their budget is through a Home Loan.


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  • Property area is commonly calculated in square feet or square meters. While buying a house you may come across terms, such as carpet area, built-up area and super built-up area. These terms may confuse you as a buyer and many assume all these are inter-changeable. Although they may sound similar, there is a lot of difference in what actually constitutes the carpet area and built-up area.


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  • There are a lot of technical terminologies around loans and mortgages and if you are planning to buy a home and fund it through a Home Loan, there are some terms you need to be familiar with and are bound to encounter in the course of this process. The Loan-to-Value or LTV is very important, as it will help you determine the amount of money you will need as savings or out of your own pocket, to get a Home Loan.


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  • There are two broad categories of loans offered by banks and financial Institutions; secured loans and unsecured loans. Understanding the difference between the two is an important step towards achieving financial literacy, which in turn can have a long-term effect on your financial health.


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  • The purpose for which a residential property is purchased is crucial, when it comes to deciding between an under-construction, ready to move (new property) or a resale property. You may buy it for occupancy as an end-user or for investment purposes or to keep it as a second home.


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  • Bank approved projects refer to those properties whose title and other legal documents have been examined by the bank thoroughly, so that interested home buyers can be assured that the project is legally clear and they can go ahead with the property purchase, without worrying about likely issues on the builder’s title/right to the property being built. Banks also inspect the building plan and all other clearances required by the builder for the construction, as a part of its project approval process.


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