Having a own house is a dream to many people! But due to rising prices, they can’t afford to buy their dream home right now!
In olden days, people save money and fulfill their dream house during their retirement, but the generation has changed! Today many people are preferring to take home loans instead of paying house rent!
For those who are looking for home loans, banks are currently offering “Cheaper Interest Rates” as the interest rates were at an all-time low! This is the best time to take home loan as the interest rates were low!
You will get income tax exemption of 1.5 Lakh under section 80(c) and 2 Lakhs under section 24(b). In this way you can save 3.5 Lakh tax Deduction.
Availing income tax exemption and rebates under Pradhan Mantri Awas Yojana(if applicable to you) fulfills your dream in addition to money saving.
But do remember banks will issue home loan on your eligibility, cibil score and your capability to repay home loan. If you have good credit history, you will be sanctioned home loan easily! Do remember this!
Maintaining a good credit history will make your dream come true! It is in your hands to make banks trust on your loan repayment structure.
You will fulfill your dream once you have paid all the EMI’s in-time! Don’t neglect to pay EMI’s as it will smash your own dream house.