Common mistakes people make while taking a home loan include:
Focusing only on interest rates and ignoring other important loan terms
Overlooking additional charges such as processing fees, legal costs, and insurance
Overestimating repayment capacity, leading to financial stress later
Not understanding prepayment and foreclosure conditions
Failing to compare multiple lenders before finalizing a loan
Ignoring loan tenure impact on total interest payable
Not reading loan documents carefully before signing
Avoiding these mistakes through proper research and realistic financial planning helps borrowers manage their home loans more responsibly and confidently.
Read Also : Why should borrowers compare banks and housing finance companies?
Answered a month ago
Shubham Finance
Common mistakes people make while taking a home loan include:
Focusing only on interest rates and ignoring other important loan terms
Overlooking additional charges such as processing fees, legal costs, and insurance
Overestimating repayment capacity, leading to financial stress later
Not understanding prepayment and foreclosure conditions
Failing to compare multiple lenders before finalizing a loan
Ignoring loan tenure impact on total interest payable
Not reading loan documents carefully before signing
Avoiding these mistakes through proper research and realistic financial planning helps borrowers manage their home loans more responsibly and confidently.
Read Also : Why should borrowers compare banks and housing finance companies?