by Mr.
Abhishek Agarwal, Creditvidya.com
Gandhi Jayanti - October 2
History is witness to the fact that, whenever
ordinary human beings have set their heart on something, they achieved it and
the world called that feat extraordinary.
Mr. Mohandas Karamchand Gandhi, the father of our
nation did some extraordinary things. He dream't of a free India and achieved
it too. Nothing can stop you from achieving your dreams.
Dream home on top of your list?
You can do it. Read on to know how.
Gandhiji had a dream and he left no stone
unturned to make it come true. His achievement strengthens our belief in the
fact that no dream is ridiculous or impossible.
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| Abhishek Agarwal, Creditvidya.com |
If you have been dreaming of having your own
home, make this year count by making it happen.
On the occasion of Gandhi Jayanti, take a vow to
persevere this dream till it translates to reality. Home loan can do the magic
here. Read on to know more.
(1.) Define your goal..!
Gandhiji had a very clear defined goal of free
India. When you are dreaming of having your own home, every aspect needs to be
defined. Location, budget & space are the basics.
Spend time on researching, visiting various locations & conducting a market
survey for the rates.
Analyze your own budget and pick the best fit
fulfilling your specific needs and requirements.
That's your goal. Now all energy can be focused
on achieving it.
(2) Plenty of options..!
The competition among lenders in the home loan
arena is cut throat. It is indeed difficult to make a choice.
Look out for the best lending rates, tenure and
easy documentation. Negotiate on the processing fee as well. Post that you will
definitely have a fair idea about which lender to go with. Gandhiji partnered
with people who helped him achieve his dream.
Similarly, the choice of home loan is going to
play an important role in the dream home project for you.
(3) Patience & perseverance..!
Mahatma Gandhi was a personification of these
virtues. Learning from the great man's life, these qualities are worth imbibing
in ourselves. There will be delays and obstacles on the way.
Housing loan lenders may demand for additional
documentation just when you thought you have submitted everything or there will
be pressure to make the payment while you are waiting for the sanction.
Don't lose your cool or hope. Be patient and
follow up diligently. The results will be worth it.
(4) Honesty is the best policy..!
Being transparent and honest with the lender,
definitely pays off. Ensure all the documents submitted are authentic, the
value of security is real and have a genuine intent of repayment. If you think,
the repayment amount is a stretch and you may not be able to make it,
reconsider the loan amount.
Accumulated debt will result in a deteriorating
CIBIL score and will impact the CIBIL report negatively.
Unwanted pressure and problems in the future
while availing credit are other issues which one will be left to deal
with. Let's follow Gandhiji's path and
take a vow to be honest.
(5) Be curious & aware!
It is not uncommon to see loans being rejected.
If that happens to you, take the lead. Do not look at the situation as a
setback.
Ask questions and investigate. Understand the
reason of rejection and focus on resolving the issue. Sometimes that will take
time. But focus on your goal and persevere.
Stay updated about the changes in policies, speak
to experts and read up about the topic. You have to pave the way to your dream
home. Take the lead.
Just like Gandhiji did while leading the nation
to freedom.
Gandhiji inspired the nation to believe in their
dream. He continues to be an inspiration to each one of us by making us believe
in our dreams.
Make that home loan work for you and don't give
up till you sign on the dotted line for owning your dream home. Jai hind!
About Mr. Abhishek Agarwal..!
Avi is a personal finance expert whose sole
mission is to empower people to save money by taking smarter financial decisions.
Avi has an MBA from UCLA Anderson School of
Management and London Business School.
Email : abhishek.agarwal@creditvidya.com
Web Site: Creditvidya.com
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