DelhiDesk The article discusses potential risks and challenges associated with taking a home loan and provides measures to avoid them. Some of the risks highlighted include interest rate fluctuations, affordability and financial stability, legal and documentation risks, default and credit score impact. The article recommends conducting thorough research, maintaining a good credit score, saving for a substantial down payment, and building an emergency fund to mitigate these risks. The article also suggests engaging a legal professional to review loan agreements and associated legal aspects.
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Here is the news bullets sorted by DelhiBreakings.com team.
👉 Home purchase is a critical decision
👉 Primary risk is fluctuation in interest rates
👉 Ensure monthly installments fit within budget
👉 Thoroughly understand terms and conditions before signing
👉 Failing to make timely repayments can negatively impact credit score
👉 Conduct thorough research and compare loan options
👉 Maintain a good credit score
👉 Save for a substantial down payment
👉 Build an emergency fund
👉 Be aware of risks and take proactive measures to mitigate them
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