I have been writing more article on the home loans and tax related tips in this blog. If you are the old reader for this blog, would have more knowledge on the topics. I would like to bring out old topics and high light in this article. It would help the new readers to quickly go through all the home loans related articles. Also I will come up with some more interesting articles on home loans tips. If you have anything on mind, please post it in the comments section.
About Home Loans
There is no explanation needed for the home loans. This type of loan is taken for constructing new house or repairing the existing house. But, we can wisely deal with the financial knowledge to save our hard earned money. The following are few links talks about the home loans and what are the process followed:
- Documents required for Home Loans Application
- Check list for Home Loans
- Submit Original documents for Home Loans
- Top 5 Rules for Home Loans
Home Loans and Tax Planning
Nowadays, most of the home buyers if you ask the second reason why they are buying new house is to show the investment while submitting the tax proofs. In fact, that is not the good way to see the investment, if you buy house only for the tax reduction, then you need to spend time on learning about the savings and investments. Better to discuss with financial consultant. We are not going to discuss on that here, this section summarizes the list posts that talks about the tax planning using the home loans. The following list of topics discuss on the investments on home loans and sections 80c and 24b on saving the tax exemptions. The topics are more interactive and informative, please post your thoughts after reading the story.
- Home Loans and Income Tax benefits
- Home Loans and Income Tax Benefits – Part 2
- Tax Benefits on Home Improvement Loans
- Joint Home Loans and Tax Benefits
Processing Fees and Other Charges
There are couple of charges are fees applicable for applying the home loans. Normally processing fees would be levied on certain percentage of the total home loans amount. This would vary from the different banks. Don’t forget to ask the bank about the % of processing fees. Sometimes banks offer special customers the 0% processing fees, that means you need not pay any fees to processing the home loans.
Apart from processing fees for home loans, there are several other charges like switching to other banks, etc. The following list of articles explains the topics.
Other Types of Home Loans
Apart from normal home loans, there are several other types of home loans can be taken to repair the house, and extending the existing home loans, etc. This all can be used for the tax planning too. The following topics discuss about that.
Home Loans Eligibility
If you are salaried person or have the proofs like IT returns, etc. for your income then you will be eligible to get the home loans. But, the question arises how much amount you are eligible?. It is purely depends on your monthly income and your EMI repaying capacity. The following article talks about the EMI and pre-EMI concepts.
Protection For Your Family (Home Loans Insurance)
It is one of the important part on buying the home loans. Many buyers not even consider taking the insurance cover for the home loans. It would hit their family when he is no more. Nowadays most of the banks tie up with the insurance company and offer the home loans insurance at the time of buying the home loans.
Summary
I have almost summarized all the articles I have posted related to the home loans, tax benefits, types of home loans,etc. This would help you to understand the home loans and come to a conclusion. I would like to get some feedback from you, please post it in the comments section.
November 23, 2011 at 12:09 pm
thnks krish, ur the best! thnks so much for taking out ur valuable time to help us out.
November 23, 2011 at 7:41 pm
Thank you for the comment
- krishna
May 15, 2013 at 12:29 pm
Nice post. It sums up everything on home loans. Maybe , you could include a small explanation on pre-approved loans and their benefits and disadvantages.