Hero Housing Finance is a prominent housing finance company operating in India. They specialize These offerings encompass home loans, home improvement loans, in offering a diverse range of home loan products tailored to assist individuals and families in buying, building, or renovating their homes.home construction loans, and balance transfer loans. The company's primary goal is to deliver affordable and easily accessible housing finance solutions, particularly targeting middle and lower income segments.
A duplex house has two floors, offering more space and privacy for families. Types include Ground, Standard, and Low-rise duplexes. Benefits include rental income, mortgage assistance, and multi-generational living. Drawbacks include higher maintenance, noise, and limited outdoor space. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/duplex-house Country List: India
Higher floors offer great views, better air quality, and privacy but come with maintenance delays and earthquake risks. Lower floors stay cooler, allow faster emergency access, and may have gardens but face security risks and humidity issues. Choose Higher Floor vs Lower Floor Living based on your priorities! Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/higher-floor-vs-lower-floor-living Country List: India
The reset clause in home loan lets lenders adjust interest rates periodically, usually every 2-4 years, based on market changes. This can raise EMIs or extend loan tenure. Borrowers should review loan terms carefully to avoid unexpected financial burdens. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/reset-clause-in-home-loan-agreement Country List: India
Immovable property in India includes residential, commercial, industrial, agricultural, and mixed-use properties. Legal aspects like tenancy laws, succession, and transfer rules govern ownership. Investing in real estate offers benefits like rental income, appreciation, tax savings, and retirement security. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/Immovable-property Country List: India
A home loan with overdraft facility allows you to deposit funds into a linked account, reducing the principal and saving on interest. It offers flexibility, interest savings, and no prepayment penalty. However, overdraft deposits aren’t eligible for tax benefits. Website URL: https://www.herohousingfinance.com/blog/knowledge-series-of-experts/home-loan-with-overdraft-facility Country List: India
House Rent Allowance (HRA) helps salaried employees reduce taxable income by offering exemptions on rent payments. The exemption is calculated based on actual rent, HRA received, and a percentage of salary. Self-employed individuals can use Section 80GG for rent deductions. Proper documentation is essential for claiming HRA benefits. Website URL: https://www.herohousingfinance.com/blog/knowledge-series-of-experts/what-is-house-rent-allowance Country List: India
When home loan interest rates rise, borrowers can consider refinancing, switching lenders, or opting for a fixed-rate loan. It’s also wise to pay off high-interest debts, increase EMIs if possible, or choose a loan tenure adjustment to manage the impact. Website URL: https://www.herohousingfinance.com/blog/knowledge-series-of-experts/what-to-do-if-home-loan-interest-rates-increase Country List: India
The MHADA lottery scheme offers affordable housing in Maharashtra through a transparent, subsidized system. It provides homes for various income groups and includes financial assistance. Applicants must meet criteria like residency, income, and age. Website URL: https://www.herohousingfinance.com/blog/knowledge-series-of-experts/what-is-mhada Country List: India
A moratorium period in a home loan is when you don’t have to make EMI payments due to unavoidable events. While this provides relief, interest continues to accumulate. It differs from a grace period, which allows late payments without penalties. Proper planning can minimize additional costs. Website URL: https://www.herohousingfinance.com/blog/knowledge-series-of-experts/moratorium-period Country List: India
होम लोन को जल्दी चुकाने के लिए कुछ तरीके हैं: बड़ी डाउन पेमेंट करें, बैलेंस ट्रांसफर से कम ब्याज दर का लाभ उठाएं Website URL: https://www.herohousingfinance.com/blog/knowledge-series-of-experts/home-loan-jaldi-chukane-ke-tarike Country List: India