Buying a home is an event which marks a significant milestone in an individual s life. It takes years of planning before booking a home. With the availability of home loan at competitive interest rates, it is now easier to own a home today. Home buyers can pay a part of the property s value as down payment and pay the remaining amount in convenient EMIs.
Home loan is a convenient way to own a home today. If a buyer has a good CIBIL score and meets home loan eligibility requirements, then he/she can easily apply for a home loan. Apart from EMIs, down payment plays an important factor while buying a new home. Efficient planning of down payment can ensure hassle-free home loan repayment process.
Here are a few ways in which you can plan your home loan down payment: