homeloans's blog

These days, attractive housing finance schemes are being offered that seek to make life easier for home buyers. However, there are certain important aspects of personal finance that have to be taken into account before applying for a home loan.

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Home loans are set to get more expensive for individuals while companies will have to pay more on their borrowings with the Reserve Bank of India raising interest rates yet again. In its bid to control inflation, now treading close to the double-digit mark, the RBI on Thursday hiked its key policy rates - repo and reverse repo - by 25 basis points, the 10th such increase since March 2010.

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LIC Housing Finance Asset Management Company , a unit of LIC Housing Finance, which figured in the bribes-for-loan scam, is planning a Rs 750-crore real estate fund and is looking for people to manage it.

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Two things happened recently that seem not to be connected but should be. The Citibank fraud bubbled up through the mud and more quietly the Financial Stability and Development Council (FSDC) had its first meeting. The first is a tiny example of what is wrong with the banking sector in India and the second may be a vehicle that could solve this.

Even if tenants want to invest in a house, financial constraints discourage many buyers as they have to pay rent until the property is ready for occupancy and bear the EMIs (equated monthly instalments) of the home loan.