Want to Apply for a Home Loan Be careful and avoid these missteps
                     Want to Apply for a 
Home Loan? Be 
careful and avoid 
these missteps
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What are the 
aspects of a 
home loan?
A home is one of the biggest purchases 
you will ever make. Yet, over and over 
again, we see first home buyers make 
the same mistakes along the way. It is a 
huge investment, and a small mistake 
can lead to a big pool of mud. Therefore, 
it is important to take every step very 
carefully, especially when you are 
borrowing for the very first time. A home 
loan is a financial solution for 
homebuyers to purchase a home. 
© Clix Capital Services Pvt. Ltd. All rights reserved. 2
Talking to only one financial 
institution
It is natural to be excited and be in a rush to get 
your dream home. However, this is not the right 
way that you can approach such a huge 
investment. For more than 20 years, your home 
takes up a huge chunk of your income. You should 
not talk to just one loan provider and settle a deal 
immediately. It is important for you to check and 
compare at least the best options in the market. 
The more you compare, the better rates, charges, 
and loan terms you get. It is very important to get 
a suitable rate of interest on a home loan, as it is a 
long-term loan and you cannot afford to pay a high 
interest rate for more than 20 years. 
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Getting an expensive 
house that you can't 
afford
A home is an asset and an investment. It is 
perhaps the most expensive investment that 
you will make in your entire lifetime. Hence, it 
is very important to understand the budget 
before you buy a home. A home can even 
exceed a budget in crores. The burden should 
not exceed your ability to pay. Stick to what 
you can afford and avoid the mistake of owning 
a home you can't afford.
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Draining entire savings
Savings is always for emergencies and 
instant expenses. If you are draining out 
your entire savings to pay for the down 
payment on your home, you will face a 
crisis later on. It is one of the most common 
mistakes that first-time homebuyers make 
and this definitely should be restricted. Do 
not drain out your entire savings. At least 
you need to save a good amount of money, 
even after paying your down payment. 
Again, do not exceed your budget in terms 
of buying a home as it would be a matter of 
lakhs. 
© Clix Capital Services Pvt. Ltd. All rights reserved. 5
Thank You
For more information please contact:
Clix Capital Services Private Limited
Email: [email protected]  |  Mobile: 18002009898  
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