PATIENCE INDIA CURRENT AFFAIRS E-MAGAZINE ANK NO:-15CURRENT AFFAIRS DATE:-04/12/2017 TO 10/12/2017.

PATIENCE INDIA CURRENT AFFAIRS E-MAGAZINE ANK NO:-15
CURRENT AFFAIRS DATE:-04/12/2017 TO 10/12/2017.

Latest Current Affairs 2017 Q&A for competitive exams UPSC, TNPSC, IAS, RRB and Latest Current Affairs 2017 for banking exams IBPS PO Clerk, SBI, RBI and more. ... Current Affairs 2017 Last 15 Days. ... Current Affairs Quiz Last 15 Days.
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Buying a home is dream for many people. Owing to the rising price of properties, it has almost become impossible for an average earning person to buy a home on a lump sum payment. Therefore the concept of home loan has come in trend. There are plethora of housing finance companies and equal number of banks that offer home loans these days. The task of selecting one company and one offer for home loan amidst the thousands available options have become a very complex task owing to the burgeoning housing finance market in the country. Apart from this, there are intricate business jargons and technicalities that make this task more difficult. Explore here the basics of home loan technicalities, so that when you apply for the home loan next time, you can understand the basics and help yourself remain away from the duping elements in the market.

Home loans are usually accompanied by the following additional costs: a) Processing fee: It's a fee payable to the lender on applying for a loan. It is either a fixed amount not linked to the loan or may also be a percentage of the loan amount. b) Prepayment Penalties: 

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When a loan is paid back before the end of the agreed duration a penalty is charged by some banks/companies, which is usually between 1% and 2% of the amount being pre paid. c) Commitment Fees: Some institutions levy a commitment fee in case the loan is not availed of within a stipulated period of time after it is processed and sanctioned. d) Miscellaneous costs: It is quite possible that some lenders may levy a documentation or consultant charges.
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