Home loans in Hyderabad | Loans Paradise

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What are the factors affecting home loan interest
rates?
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• Home loans are taken to purchase a home or a plot
  and get the dream of owning a home fulfilled.
  There are lenders offering
• Home loans in Hyderabad with different rates of
  interest. For the borrower to get affordable
  interest rates there are few factors to consider.

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3

• Income Income of the borrower will affect the
  interest rates. Higher income means there is less
  risk of defaulting and the lender can enjoy lower
  interest rates.

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• Age If the person taking a loan is in the
  retirement stage, then there are chances for him
  to default the payment.
• So, younger borrowers have a chance to get
  low-interest rates.

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• Employment type The employment status will
  decide upon the interest rate charged.
• If the borrower is self-employed or is not stable
  in the job, then that will affect the interest
  rate charged by the lender.

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6

• Credit score Higher the credit score of the
  borrower, lower will be the interest rate.
• A credit score will definitely impact the
  interest rate of the loan.

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• Relationship with the bank Existing customers of
  the bank have the privilege to get low-interest
  rates when compared to the ones who take the loan
  for the first time.

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