Check the percentage of loan offered:

You can choose the best home loan comparing the EMI. If the bank you have chosen offers only 80 percent of the amount required for buying the house, then choose a bank that offers 85 percent of the total amount.

This is helpful only if you cannot afford a large sum as down payment but you have to pay more EMI according to the increase in the percentage of the amount offered. Don’t make hasty decisions because paying penalties due to nonpayment of EMI on time can prove to be more troublesome.

Negotiate on the interest rate:

Though the banks say that interest rates are non-negotiable, they are negotiable only if you list a few honest issues with the high rate. This can be done only if you have finalized the property you would like to buy and you need it as soon as possible.

It can be beneficial for you if it’s the month end as the sales persons have a collective number of sales that they need to complete every month so for that they may give you certain benefits.

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