Dreaming of your own place? 
Let’s talk home loans! What’s the one thing you’ve always wondered about getting started?
Post your questions below and let’s get the conversation rolling!!!
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Are there some clever ways to save money on loan and calculate EMI?
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That’s a super valid concern! Luckily, it’s easier than you think to get a clear picture. Our Online EMI calculator Butter Money | Simplified Home Loans, Faster Approvals makes it easier– just plug in the loan amount, interest rate, and how long you want to pay it back. Beyond that, Butter Money even have ‘savings calculators’ Butter Money | Simplified Home Loans, Faster Approvals show you how things like a slightly bigger down payment, a shorter loan term, or even just paying a little extra when you can, can save you a ton of money on interest over time.
Hey, I’m planning of buying a home, but honestly, the whole loan thing feels HUGE and super complicated. What’s the actual process like, step-by-step, and how can I make sure I can easily get it done?
Totally get it, it can seem like a mountain! Think of it like this: first, we check if you're a good fit, then you share some documents (like your ID, income proof, and house papers). After a quick look, you get a go-ahead, and then it's just about getting the property properly checked before the money's released.
Can someone with a not so perfect credit score also get home loan?what can i do to make my application look better?
I often hear finance gurus suggesting to stay on rent while investing the EMI money in other assets instead
Is it better to buy a house on cash after saving for a few years instead of EMIs?
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Hi Vikram,
This is a question that only you can answer, and it depends on your long term goals, and your personality.
Both sides have arguments, but in pure wealth creation terms (which also depends on your age), renting is the best option (if you are mobile, aggressive with investments, and not emotional about owning).
For the best decision that works for you, we should definitely get on a call, but if in case you are clear that you want to have an owned home, buying it on loan has the best ROI.
When is buying a home the best decision:
- Long term stay in a city (generally > ~5 yrs in a city like Bangalore, where rental yields can be as high as 3-4%.
- Rent >= ~5% of price value, either move out of the neighbourhood or buy the property. Period.
- Life Stage - Thinking about setting up a family or staying at one location (Taking a decision to buy a house should be early and not later)
- Asset Appreciation is expected - location matters.
if you have decided to buy a home, ensure you buy it on leverage (home loan), and buy a resale or ready to move in property in an upcoming area.
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Short Answer - Yes you can get a home loan. Now to get the best offer, you definitely will need a good CIBIL score (higher the better). Apart from Cibil, there are other factors that matter when getting a loan offer - income, employment type, co-applicants, property type, investments (MF, FDs), insurance premiums and covers.
For improving CIBIL, its a minimum 3 month journey to improve it 20-50 pts (depending on where you start).
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