Home Loan charges
Are you planning to buy a home? If you are planning to take a home loan for this purchase, you should know that there are several added home loan charges that most buyers are not aware of. Apart from the down payment and interest costs, there are some other extra costs. These include the following:
- Processing Charges- A specific percentage of your home loan amount has to be paid as processing charges.
- Loan Conversion Charges- There are specific charges that have to be paid for converting from a fixed interest loan to a floating interest loan and vice versa.
- Inspection Fees- These are charges that you have to pay for inspection of the property for valuation purposes.
- Legal Fees- These fees have to be paid for examining the legal status of the property you are interested in buying.
- Document Retrieval Charges- These are nominal charges payable for transferring mortgaged home documents in your name.
You should always check for these charges and other hidden costs before signing your home loan agreement. The Bajaj Finserv home loan processing fees and other costs are reasonable and applying for a home loan will get you several benefits like low rates of interest, instant approval within 5 minutes, balance transfer and top-up loan facilities and the 3 EMI Holiday feature.