Get the Tata Capital App to apply for Loans & manage your account. Download Now

Blogs SUPPORT
Loans For You
Loans for Business
Investment
Insurance
Apply
Quick Links for loans
Quick Links for Insurance
Investment
Offers Quick Pay
Back

Equipment Finance

Avail Digital Equipment Loans
up to Rs. 1 Crore

  • Attractive ROIs
  • Customizable Loan tenure
Know More
Back

Equipment Leasing

Avail Leasing solutions
for all asset classes

  • Up to 100% financing
  • No additional collateral required
Know More
Menu  
 
Apply Now

Tata Capital > Blog > Loan for Home > Before(s), During(s) & After(s) a Home Loan

Loan for Home

Before(s), During(s) & After(s) a Home Loan

Before(s), During(s) & After(s) a Home Loan

This title might seem a little odd at first. What exactly is that we are trying to point out? But let us help you.

These are actually phases of any home loan.

So at first, it’s the BEFORE phase where you are about to apply for a loan. Second is DURING phase where the application is being submitted and processed. Final phase is AFTER, where the loan is disbursed and you have to manage it.

Phase 1: BEFORE

  • You won’t get a loan if your credit score is poor. So ensure that you work towards improving it if it’s not good enough. Pay all loan EMIs and credit card bills on time. Also, ensure you’re your credit card utilization is under 30% of your credit limits.
  • Different lenders offer different rates. So thoroughly research all available loan options. It’s possible that some new lenders might give you loans at much lower rates. Lower the home loan interest rates, the lesser the EMI and interest paid.

Phase 2: DURING

  • When you are applying for a home loan and have checked your credit score to be good enough, and then ask your lender to lower your rates. Lenders are more than willing to reduce rates in order to service a good and creditworthy customer.
  • Before signing on the dotted line, go through all the terms and conditions thoroughly. Make sure that you have read all the important terms and conditions.

Phase 3: AFTER

  • Do not miss any EMI payments. It will lower your credit score and you will have to pay later charges.
  • If possible, make prepayments to reduce the outstanding loan amount. This will lower the total interest paid and also reduce your loan tenure.
  • Periodic prepayments apart, also try to pay slightly higher EMIs than what is required. This too will reduce your loan tenure and total interest.
Apply Now
Disclaimer

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Viewed Blogs

Trending Blogs

Calculator

Personal Loan EMI Calculator

Personal Loan EMI Calculator
Home Loan EMI Calculator

Home Loan EMI Calculator
Business Loan EMI Calculator

Business Loan EMI Calculator
Used Car Loan EMI Calculator

Used Car Loan EMI Calculator
Two Wheeler Loan EMI Calculator

Two Wheeler Loan EMI Calculator
Loan Against Securities Calculator

Loan Against Securities Calculator
Loan Against Property Calculator

Loan Against Property Calculator
More Tools
Our Subsidiaries
Our Other Websites

Important Information

Investor Information

Visit us on:,Visit us on: www.tatacapitalmoneyfy.com,www.tatacapitalmoneyfy.com

Our Private Equity Funds

Amalgamated Companies

Top Branches

Most Important Terms & Conditions - Home Loans

Download in your preferred language

Download

Policies, Codes & Other Documents

Most Important Terms & Conditions - Home Loans

Download in your preferred language

Download

Tata Capital Solutions & Services

Uh oh, something went wrong

Please try again later.