When buying a home, it is key to make sure you get a good deal on your home loan. Look for a lender that offers a daily reducing balance, instead of monthly, to save more money over time. Realize that floating interest rates can change, but fixed rates stay the same for the duration of your loan. Ensure that you have a good CIBIL score so lenders know how capable of making payments you’ve shown yourself to be. Make sure to avoid paying extra if you’re foreclosed on by going with a lender who doesn’t require pre-payment penalties if you can’t pay your loan.

Read more: Top 5 Things to Consider While Looking for a Home Loan – News18