Residential home loans can surprise you if you’ll find out it isn’t about fixed or floating rate loans anymore. A lot of home loan companies and banks around the world are trying to stay competitive among the many others and thus discovering of new home loans sprouted left and right. To discover more about residential home loans, you might want to visit a bank and clear that hesitations away.
Confused on what to choose from – fixed rate or floating rate? An average home loan borrower have probably been very puzzled with these limited residential home loan choices when planning for their dream home. When you browse through the internet, featuring how the other option outweigh the other just complicates things. It is now made possible to choose the both interest rate residential home loans given the situation. A home loan borrower can now be able to decide which part of his loan can be charged with a fixed interest rate or with a floating interest rate all depending on his terms, agreed with the lender of course.
Knowing the advantage of fixed interest rates, would you go for it? Fixed rate home loans is a perfect choice for a borrower like you. But if you are a prudent one and want to go for the low fixed rates but only believes that floating rates have advantages too, there is a special type of home loan just for you.
Tempted to shift from a small dream home to big one? Short term bridging loan is now in store for someone like you who’s still waiting for their existing house to be sold and wanting to have another house already. This type of loan will solve your problem on that. After you have sold your old house, you can easily pay this type of loan in terms agreed with your bank.
Wanted to stick on the equated monthly installments (EMI’s)? Step-up repayment is suitable for someone like you. Therefore, the bank have come with this home loan with step-up repayment scheme. The equated monthly installments for his type of loan is designed to be lower then will increase over time. There are times wherein banks can give the provision of waiving the principal repayment component of EMI. So if you think your career will surely grow over time, you can easily convince the bank or the lender to have you have this type of residential home loan.