Financial trouble? Shift to lower home loan rate

A home loan repayment, as we all know, is a major liability that often takes several years of your earning life. Sometimes, unforeseen circumstances like a medical emergency or a job lay off may turn out to be a heavy drain on your resources and may offset your calculations of repaying the loan in the scheduled phased manner.

You are just a click away from the right property!

For a person who has a 10-year repaying timeline, a sudden lay off and downturn, may mean difficulty in making the same repayment every month. Re-financing to a lower mortgage interest or a facility that enables you to re-structure your monthly installments can come to your rescue in such situations.

Should you buy or rent? Click for solutions!

It can also be to your advantage to re-finance to a lower mortgage interest rate even when you are managing your finances well. This can enable you to invest in another lucrative venture or buy another property by sparing a greater monthly income at your disposal.

Qualifying for a lower interest rate on your home loan will save you money over the long haul. It may also help you get out of a financial bind if unexpected hardship strikes. If you find yourself falling behind in making your mortgage payments, being honest with your bank or financial institution may get you a lower interest rate without you having to refinance a new loan.

Often, in the absence of awareness about the facility of re-structuring interest rates or lack of good advisors, people struggle with financial strains and continue to suffer hardships. Some even default on their payments or sell major assets to make ends meet.

All you need to do is gather your documents and speak to your bank. Most banks are ready to help create more congenial conditions that will allow you to pay back their loans successfully. As much as you do not desire to default on your payments, your bank too is keen to ensure that the loan repayment is made smoothly. Banks are also keen to make you stay with their services, rather than force you out to another lender.

To Know More Financial trouble? Shift to lower home loan rate

About Us

MCHI-THANE has always been very clear that fine housing complexes and shopping malls cannot stand in isolation. A great City is the sum total of great buildings, great infrastructure and great people. MCHI has been committed to growth of the real estate sector and is credited with the harmonious growth and rise in quality and standards of construction in Thane City in the past decade.

Its aim as an Association of Developers has been to seek rational rules and regulations which are uniformly applied across the board as this will to a great extent result in speedy construction, cost reduction, fair pricing and a push for better quality standards at par with the developed world, with a high level of transparency.