When it comes to purchasing a house, home loan is always suggested as a good option to move in. When you take a Home Loan for purchasing a Home it takes out the financial burden from your shoulder. Here are the few Advantage and Disadvantage of buying a house with the help of Home loan:
Advantage:
- Does not puts sudden financial burden on your shoulder.
- Helps you get income tax benefits.
- Easy monthly EMI repayments doesn’t mess up with your monthly finances.
Disadvantage:
- Loss on HRA component.
- You pay extra amount while repaying your home loan through interest rates.
But whenever you apply for home loan, always compare home loan rates and offers by different financial institutions.
Follow the reference article to know more about Home Loan benefits
https://blog.bajajfinserv.in/taking-on-a-home-loan-benefits-you-didnt-know-about/
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