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Every person wants to buy his own dream house and there comes the home loan. Various banks and NBFCs offer home loans at competitive rates on the basis of value of the property and CIBIL score.

Home loan cases are otherwise not very complicated but one should get consultation from a financial expert while preparing documents so that it is not rejected.

InstaTaxFiling offers preparation of home loan file with documents like loan proposal, profile, filing of ITRs etc. Get in touch with us now if you are looking for a Home Loan.

What is Home Loan?

A home loan is a secured loan that is obtained to purchase a property by offering it as collateral. Home loans offer high-value funding at economical interest rates and for long tenors. They are repaid through EMIs. After repayment, the property’s title is transferred back to the borrower.

Types of home loan

1. Home purchase loan
2. Home improvement loan
3. Home construction loan
4. Land purchase loan
5. Home extension loan
6. Joint home loan

Advantages of taking a home loan

1. Sense of accomplishment.
2. Capital Appreciation.
3. Low interest rate.
4. Tax Benefit: Interest paid.
5. Tax Benefit: Principal Repayment.
6. Buying a home vs renting a house.