Question : Is clearing the home loan a better option or should I go with the regular EMIs for the entire tenure ?
I already have a home loan with ICICI on a floating interest rate. I'am looking for another loan.Should I clear this loan first to avail another loan or should I continue paying the EMIs for the entire tenure(This is a huge amount I will be paying by the end)."Clearing a home loan" is what I meant of getting rid of the loan by making a pre-payment.
- asked by Itsme
All Answers:
Answer #1
I am not sure what you refered to when you said"clearing the home."On the EMIs, I hope you arereferring to PMI. If you owe 80% or less, you candemand the mortgage company to move the PMI withan acceptable appraisal report to that bankshowing that the value truly is higher.
- answered by xplorshinji
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