Are you looking to purchase a new home. Watch VinodJi address the common queries regarding Home Loans. ‪#‎HomeLoansSimplified‬ ‪#‎GharJaisaLoan‬

1. Basics of Home Loan – A Customer Education Initiative from DHFL

2. Hello Sharma Ji! Long time! I didn't know you are still around.

3. Hello VinodJi.. Good Morning! Yes, where will I go!

4. I mean, you were moving to your new home right?

5. But.. But I have not been able to close the deal for a home!

6. Why? What happened?

7. Buying a house seems like something, which I can’t afford. I don't have enough savings
to make the huge payment.

8. But why do you want to spend all your savings on your home?

9. What do I do then? I have no one else to support me!

10. Go for a Home Loan, instead.

11. k
Home Loan?

12. Yes. You can borrow from a Bank or Housing Finance Company for home purchase,
construction or renovation.

13. And then repay, in regular installments along with interest.

14. What about the interest rate?

15. The interest rate is almost uniform across Banks and Housing Finance Companies

16. It depends on rate of interest offered by Reserve Bank of India.

17. However, the interest rate that the bank or housing finance company charges depends
on the customer profile and his past credit profile.

18. Also, there are 2 types on interest rates – Fixed and Floating interest rates. The fixed
rate of interest is fixed throughout the tenure.

19. The floating rate may go up or down depending on changes in the money market
conditions and internal policies. The fixed rate is generally bit higher than the floating
rate when you first take the loan.

20. I will have to think on that. So will they give me the full amount that I need to purchase
the house?

21. No! But, you can get up to 85% of the amount. Remaining 15% you can manage with
your savings. I think that’s quite possible, right?

22. Yes. That can be worked out. But, I hope Home Loan will not be a burden for me.

23. I do not think so! Right now you are paying your house rent

24. while with the loan you will be paying EMIs.

25. Home Loan will not only help you own a home but will also get you a lot of tax benefits.
Also, in time the value of your property will appreciate. You can choose to pay lesser
EMI by opting for a longer home loan tenure.

26. True. So, can anybody get a loan? And any amount?

27. Not anybody! They check the person’s age, occupation, income, repayment capability,
credit score and property details before sanctioning the loan and its amount. The rate of
interest that they charge is also dependant on these factors

28. This is very simple! I think I should consider one right away. But I don't know how to go
about it.

29. Don't worry! Watch out the next video to learn more