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Important things to know before switching home loan

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A home loan is something that every individual opts for at least once in their life

In the case of switching of home loan, the existing home loan will be taken over by a new lender by paying off the old lender in full. The switching of a home loan is also known as a home loan balance transfer.Once the home loan is taken over by a new lender, the borrower will start paying the equated monthly installments (EMIs) to the new lender. Normally, people switch home loans to get better interest rates on their loans.

Watch this video to know how to switch home loan and the important things you need to consider before switching home loans.

 

 
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