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Homebuyers will have many options to choose from this holiday season. Property developers are offering discounts, some state governments have lowered stamp taxes, and banks are competing for lower interest rates. Interest rates have been the lowest in 15 years. For example, Kotak Mahindra Bank offers mortgage rates starting at 6.75%, while Bank of Baroda …
![How an advance affects your credit rating and Alternatives to credit card advances-[A]](https://blog.mudrahome.com/wp-content/uploads/2020/08/How-an-advance-affects-your-credit-rating-and-Alternatives-to-credit-card-advances-A.png)
As with any form of a loan, an advance can affect your credit rating. A cash advance from a credit card does not show up as a separate item on your credit report, but it can affect your creditworthiness if your credit usage exceeds 30.% Credit utilization is the amount of debt you currently have …
![What is Home Loan Insurance and what are it's pros and cons_- [1]](https://blog.mudrahome.com/wp-content/uploads/2020/08/What-is-Home-Loan-Insurance-and-what-are-its-pros-and-cons_-1.png)
What is mortgage insurance? A home loan insurance plan is a plan in which the insurer pays the outstanding mortgage amount with the lender or the bank in the event of an unforeseen situation. Some of the comprehensive mortgage loan insurance policies cover the applicant, the home, and all of its contents. The premium paid …
Obviously, mortgage lenders have a long list of conditions that borrowers must meet to be eligible for a loan. Sometimes there are cases where an individual borrower, even if he meets the eligibility criteria for the home loan, may ask the guarantor to sign the loan document. For more information on these cases and the …
![Home Loan Balance Transfer-[A]](https://blog.mudrahome.com/wp-content/uploads/2020/07/Home-Loan-Balance-Transfer-A.png)
Mortgage loan transfer helps you lower your EMI by transferring your current loan from other financial institutions to an institution that offers a lower interest rate. Transferring or refinancing the mortgage loan or directly transferring the credit is the process by which you can benefit from the lower interest rate of the other lender. If …
![Business loan without collateral security-[A]](https://blog.mudrahome.com/wp-content/uploads/2020/07/Business-loan-without-collateral-security-A.png)
Most banks and NBFCs offer unsecured business loans where the borrower is not supposed to provide any collateral or guarantee. However, it becomes difficult for some borrowers because few financial institutions require collateral in the form of goods, commodities, stocks, machinery, or equipment for certain loans related to business operations. Borrowers prefer an unsecured business …
![Home Loan Eligibility & Measures To Improve It-[A]](https://blog.mudrahome.com/wp-content/uploads/2020/06/Home-Loan-Eligibility-Measures-To-Improve-It-A.png)
If you are considering buying a house and want to avail of a home loan for the purchase you make, it is important to consider your eligibility before applying for such a loan. Since the quotient of risk involved in sanctioning of home loans is high, Bank considers various factors before granting sanction to the …
WHAT IS A HOME LOAN? A loan could be a add of cash that someone borrows from a bank or a loan company at an explicit rate of interest and that should be paid monthly with the easy …