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Which option is ideal for Home Loan tenure: Short-term or Long-term?

Read this Kohinoor's article to resolve the dilemma situation whether the short-term home loan is excellent or long- term home loan. Click this link to get to know more.

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Which option is ideal for Home Loan tenure: Short-term or Long-term?

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  1. Which option is ideal for Home Loan tenure: Short-term or Long-term? By Kohinoor Group https://www.kohinoorpune.com/

  2. The quintessential Indian dream for an extended time is of owning a home. However, buying one in the 21st century isn't a simple task, especially if you're a first-time home buyer especially as you'll get to be equipped with the know-how of how a home loan works. So, let’s start with the fundamentals. A home loan is typically taken either for construction of a replacement house or renovation or to buy a flat/apartment. Moreover, the eligibility for an equivalent generally depends on the repayment capacity and property price.

  3. Furthermore, home loans are mostly sanctioned for a maximum tenure of 30 years, but it's observed that the typical period people go for pay off their home mortgage entirely is around eight years. You plan to pay an EMI (Equated Monthly Installment) after you take a home loan. EMI of 60-65% of monthly income for a stipulated period can go as long as 30 years. The longer the tenure, the lower the EMI. To read the post in details please visit our blog here: Which option is ideal for a Home Loan tenure: Short-term or Long-term?

  4. This might sound tempting for you to go for a 25-30 year loan. But, the most straightforward advice is to require a loan for the shortest tenure you'll be able to afford. Long-term loans result in higher interest payments. So, it's crucial that you make the proper choice that won’t hurt you in future. Related Post - Who Can Buy a Home in Pune?

  5. To read more articles on real estate inbound marketing visit Kohinoor blog: https://blog.kohinoorpune.com/

  6. ADDRESS Kohinoor Development Corporation A-102, ICC Trade Tower, S.B Road, Pune 411016 sales@kohinoorpune.com Contact no. 020 6764 1839

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