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. To discover more about residential home loans, you might want to visit a bank and clear that hesitations away.
Don’t know which you’ll go for – fixed rate or floating rate? An average home loan borrower have probably been very puzzled with these limited residential home loan choices when planning for their dream home. When you browse through the internet, featuring how the other option outweigh the other just complicates things. It is now made possible to choose the both interest rate residential home loans given the situation. A home loan borrower can now be given an option to choose a part of his loan to be charged at a fixed rate interest and the other part at floating rates and vice versa.
Knowing the advantage of fixed interest rates, would you go for it? Check this out! The fixed rate home loans is just right for you. But if you are a prudent one and want to go for the low fixed rates but only believes that floating rates have advantages too, there is a special type of home loan just for you.
Tempted to shift from a small dream home to big one? Short term bridging loan is now in store for someone like you who’s still waiting for their existing house to be sold and wanting to have another house already. For a short period of time, this loan can fill up the deficit of your payments for the new house. To know more about this type of loan, click more on this website.
A no no for big 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. Therefore, the bank have come with this home loan with step-up repayment scheme. The equated monthly installments for his type of loan is designed to be lower then will increase over time. 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.