Curious to avail a home loan online? If yes, you must be looking for the best lender, isn’t it? And, if that is the case with you, all you need to do is just go through the article below. Today, in this article, we are going to talk about LIC HFL Home loan, which is no doubt one of the leading and renowned names in the industry.
Yes, being a reputed name in HL arena, it would not be wrong to say that this lender with its best of product and services meet the needs of one and all. But if you are thinking to avail the same, it is important that you should be aware of some hidden factors. So, let’s not waste any time further and discuss those factors in the article below.
Home Loan Interest Rates-You Need to Know
Any journey begins from the interest rates as they can either make or break the situation for you. This is the reason why borrowers always prefer to ask the same prior going for any credit facility. Talking about the rates offered by a lender,it ranges between 8.45%-8.90% per annum, which is of course, the lowest range that allows you to enjoy the affordable monthly installments and Interest Outgo. So, the moment you apply for home loan online, do check the rates so as to enjoy a hassle-free journey.
Credit Score-Your Numeric Summary
Before taking that final call, it is a regular practice for most of the lenders to check the score of the applicants. With the help of doing so, it would be easy for the lenders to know the creditworthiness, which actually gives a quick access to an individual profile. Usually, a score of 700 or above out of 900 is considered to be fair enough in grabbing the best deal. Thus, one should always try to maintain the same so that it further helps in grabbing a lucrative deal.
Another factor that tops the list is none other than the eligibility criteria. Yes, an applicant, before applying for this credit facility should go through the home loan eligibility norms so as to enjoy a hassle-free journey. Talking about the criteria, it usually differs from lender to lender but generally, it revolves around age, income, credit score, job stability, work experience and so on. So make sure you have cross-checked the same before going for the same.
EMI-Your Repayment Capacity
Before going for this loan, ensure that your monthly installments should be pocket-friendly so that you can easily repay your loan in the future. You can use LIC home loan EMI calculator to know whether your monthly installments are going to be affordable or not as this magical device helps you with the same. And, the best thing is that it is 24×7 available online so that you can use it anytime and clear all your confusion.
Hope the above article was worth reading for you!