You might be mistaken if you still think that home loans are still classified only between the traditional fixed interest rate or floating interest rate loans. To be able to keep that zeal burning and to keep up with the fast pace with almost every global development nowadays, especially in the home loan market, a lot of companies have already bring forth new residential home loan options. It’s maybe time to stop fretting on getting a residential home loan for your dream home and check out this website and see what is more in store for you.
Don’t know which you’ll go for – fixed rate or floating rate? These choices have been confusing home loan borrowers every since. Articles flooding the internet between the differences of these two options clearly states the advantage of going for the first option rather than the other that makes it more confusing. Banks are now offering both fixed interest rate and floating interest rate and not just neither of the two. There’s a free will offered for the home loan borrower to charge a percentage of his loan either fixed or floating.
Knowing the advantage of fixed interest rates, would you go for it? The revolutionary rise of floating rates made it easy for borrowers to likely choose fixed interest rates. Residential home loans are made flexible now that you can choose a special type of home loan wherein you can charge a part of your loan with the fixed interest rate at a given period of time and eventually switch it up to floating interest rates.
The family is getting bigger thus in need of a bigger home right? We have a solution for that! Short term bridging loan is what you need. For a short period of time, this loan can fill up the deficit of your payments for the new house. You can then pay this loan in easy installments or by lump sum.
Wanted to stick on the equated monthly installments (EMI’s)? It is but normal that as time passes, surely individuals will have an increase in their salary and by that, they can be able to afford big EMI’s – this is basically the purpose of the step-up repayment. Discover more about this new offer – a home loan with step-up repayment facility. Charging EMI’s in this type of residential home loan is low at first and will get bigger as time goes by. The principal of your equated monthly installments can actually be relinquished for the initial period when you choose this special type of residential home loan. So if you think your career will surely grow over time, you can easily convince the bank or the lender to have you have this type of residential home loan.