Getting the Timing Right for Opting for Home Loans in India

It seems the after-effects of demonetisation and GST implementation are seen currently in India. Small and medium-sized businesses are at the receiving end and facing issues with regards to rotation of money, in addition to lack of business. People’s spending power has reduced, automobile sales have gone down, while even eCommerce company sales have not increased in recent times. The stock markets have started recovering, but they are still a long way off from where they should be – in terms of the money invested by Indian investors. The gold prices are sky high, and real estate market is down and there is a huge inventory left with many builders. The demand for outright purchase of homes is slowly diminishing and people are playing the waiting game. But, for how long?

Best home loan in India

In such a scenario, there are many measures taken to encourage people to buy homes by reducing the interest rate on housing loans in India. The attractive interest rates for home loans as offered by NBFCs and banks are luring many real estate buyers to start buying. But, is it a good time to leverage on the fall in real estate prices and fall in the interest rate on home loans?

It is not practically possible to predict if the real estate prices won’t go down further or whether the demand will suddenly start rising. If you have the need to buy a home or residential property and if you have the budget, the current times are definitely favourable due to the attractive home loan interest rates on offer. Even reputed builders have started negotiating on their price, and you can use this opportunity to discuss with them and get a good deal for yourself.

First, you need to decide in your mind that you are ready to buy a home. Once this decision is made, you will have the challenge of choosing whom to take the housing loan from. It is not as easy as putting a Google search query like ‘best home loan in India’ and selecting a bank or NBFC. You need to consider several parameters like their experience, expertise of their professional team, the loan process duration, ease of approvals, and more. It is therefore advisable to opt for a reliable and known NBFC like JMFL that have been in this home loan business for a long time. With JMFL Home Loans, you can scan through a variety of housing loan options that are customised as per your requirements. Their team of professionals ensure you experience a hassle-free home loan process along with quick disbursement cycle.