You worked harder, longer and saved every penny to give yourself and your loved ones the security of a home. A home that they could call their own. It’s only understandable that you should want to secure your most important asset from any possible kind of natural or man-made catastrophe. Cashiya realises the need and has designed a variety of home insurance products that cater to everyone’s home insurance needs. After all, homes are not built everyday.
When granting a home loan, the lender uses your property (home) in order to secure the loan. Due to use of your house as collateral, home loans are secured loans that involve a low level of risk for the lender. If the borrower is unable to pay the loan for any reason, the lender can legally auction off your property to retrieve the outstanding loan amount.
Being a secured loan, home loan interest rate is comparatively lower than an unsecured loan, such as a personal loan.
The amount of the home loan can vary based on your income, credit history, the locality/city you are planning the purchase in and various other factors. You can apply for a home loan jointly with your spouse, family members or others as co-applicants.