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Know Hows of Home loan

Are you planning to buy your new home using assistance from any financial institution? Then this article is for you. If you are planning to buy budget-friendly luxury apartments in Trivandrum using a Home loan, read on.

Getting a dream home in life is considered an achievement for middle-class individuals in India. The ownership of a home is regarded as one of the major signs of success in Indian society. But, converting your dream into reality is not a difficult task in today’s time as many institutions are providing home loans with competitive interest rates in the country.

A home loan is typically an amount borrowed for a fixed tenure from the financial institutions to buy, repair, renovate any type of residential property. The lender will take an interest amount with the principal amount from the borrower which needs to be settled within a specific tenure.


When planning to buy a new property through a home loan, getting the best deal can save homeowners lots of money and stress in the long run. Trusted property builders in Trivandrum, V Five Homes details a few important steps to ensure you get the best home loans in Kerala.

  1. Finalizing the total budget
    There is a long list of overheads when you involve yourself in the process of buying a house. Overhead fees like a broker charge, registration, legal fees, stamp duty and more, which augment the price of the house considerably. To get the exact amount for which a home loan would be required. One should always consider a buffer amount in case the expenses exceed the expectations when closing the deal.
  2. Scan the market
    A buyer needs to check all available home loans which are available in the market and should be able to compare them. Parameters like loan eligibility, interest rates, expected EMIs, pre-closure fees, repayment options, tenure etc should be considered before zeroing in on a loan. One can search online to find the best home loan rates in India, offered by reputable financial institutions, to avail the home loan scheme that suits applicant’s needs best.  Choosing V Five homes as your dream home, finance experts from V Five will help process the documentation in much ease, guiding the client in each step.
  3. Bargain Wisely
    Do not grab the first best offer quoted by a financial institute; evaluate the type of home loan interest rates, floating or fixed, being offered. Choose a practically attainable loan repayment tenure and EMI.
  4. Double-check the loan documents before you sign.
    Even though reputable banks take many efforts to inform borrowers regarding home loan details and the terms associated; buyers need to take time and read through the loan agreement to understand the effects. Some of the important points in an agreement applicant’s must evaluate are,
  • Processing Charges
  • Maximum loan quantum.
  • Pre-payment charges
  • Pre-closure fees.
  • Penal interest rates.
  • Terms and conditions.
  • Repercussions of missing monthly instalments.
  • Late payment charges.
  • Loan default penalty.
  • Currency switch charges (If applicable)


Most banks offer support and guidance for the process at a nominal fee. At V Five Homes, one would have a personal advisor in helping you with the documentation process.  Banks offer service which helps one keep track of all overhead charges and gauge home loan eligibility. Applicants need to submit the required documents which are namely,

  • Salary statements for last three months along with bank statements.
  • Identity proof (Copy of PAN card), aadhar, proof of address, IT returns etc.


When opting for a home loan one must consider the overheads until the home loan is totally paid off, hence opting for a monthly EMI that can be repaid without too much stress. V Five homes offer budget-friendly luxury 2-3bhk apartments in Trivandrum. A builder with a reputed history of excellence, the staff helps you find the best V Five apartment in Trivandrum which can accommodate all your needs.

All apartments of V-Five Homes are placed at the most demanding and peaceful localities of Trivandrum. All major projects are close to Technopark, upcoming Lulu Mall and International Airport. You can avail easy home loans in Trivandrum and choose the best VFive apartment for your family.