Owning a Home-a Dream Or a Reality

By: Aditya Jaiswal

In India around 40% of people are either renting a house or are homeless. Some of them belong to those categories where they own a house but the houses are in miserable conditions. As owning a house or a shelter has been termed as one of the biggest achievements in one's life the necessity of owning a house can be called as a basic need of a human.

As purchasing a house needs a lot of money at the time of allotment of the house, it usually becomes out of the reach of a common man. Though "owning a house" is an incomparable feeling but to feel it one has to be economically sound which unfortunately is not the real scenario in India.

Hence, in order to make it sure that everybody gets an equal opportunity to "own a house", a lot of innovative ways have been introduced. The best of the ways to arrange the capital while purchasing a house is supposed to be the "home loans".

Home loans in India are easily available to almost al the people (depending on their credibility). Home loans apart from being an easily accessible means of arranging the required capital at the time of purchasing a house are actually a way to easy and flexible purchase of a house. These loans are available on different interest rates, repayment period and an easy documentation procedure.

Banks like SBI, ICICI, HDFC, Centurian bank actually provide home loans on different interest rates ranging from 7.75% to 16% depending on the repayment criteria. Though these banks provide their dedicated home loan services to their customers one should always try and confirm the particulars about other bank rates too.

These home loans are not only available for the purchase of a new house but also for the renovation of your old house. In fact before consulting a home loan advisor one should always do a bit of "googling" in order to find the best deal available. A lot of web sites dedicated to home loans offer a very useful home loan guide whereby one can find out the information about the interest rate, repayment schedule, EMIs, available loan on one's credibility.

To get the best housing loans in India it is always recommended to have knowledge about the contemporary housing loans in the market. To know more about them one can call on the customer service numbers of these banks or get the information from their web sites.

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