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what is means of margin money in home loan
In Home Loans  -  Asked by dhruw narain singh -  4 years ago

Best Answer:
Margin money is an upfront down payment that reassures the lender of the borrower's financial stability and commitment. For those who have excess funds in hand, consider making a larger down payment. This will bring down your loan amount and consequently your monthly EMI outflow. For those who are uncertain about their job security, this would be the best thing to do. With a reduced tenure or reduced monthly repayment burden, the possibility of defaulting will be minimized. To know more about home loans visit rupeetimes.com.
4 years ago - By Mitu

Other Answers (2)
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Answer 1.
You must negotiate with your bank to reduce margin money. But loan should be taken if finances can be managed easily.
4 years ago - By Jonty
Answer 2.
Generally, Banks expect a down payment of 5-20 percent of the loan amount which is known as the margin money. This is only to ensure the borrower is committed enough to repay the loan and has the required financial backing to make regular EMI payments. Since not many borrowers have such large savings, raising the down payment money is usually a struggle. You can raise margin money can take personal loan but must ensure you have enough funds to repay both the home loan and the personal loan.
4 years ago - By Uday
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