The first thing you should calculate is the amount you will be comfortable to pay. Your budget should include expenses other than your primary buying expense.
Banks generally check your credit score. If you have a poor credit score your bank may not give you your loan. Make sure that you recognise your mistakes which may have had a negative impact. Start improving your cibil score before applying for your home loan.
Understand different interests of different banks
Understand that lower the rate of interest lower would be your EMI. Homes loans offered by banks are either fixed or floating. Know which option would be your best option. Even if you do not understand it well, speak to your agent.
Be smart with your choice of loan and EMIs
Rather than thinking about a better future and taking a huge loan. Consider the worst possibilities like not getting a promotion or raise. A huge EMI might become a burden after a point of time. Also while applying for your home loan check your other outstanding loans.
Compare the interest rates
Different banks might have different interest rates. Choose your bank. Choose a bank which has the most reasonable interest.
Check credentials and legality
When you narrow down on your search for your dream house check the legalities of the houses you may zero down upon. Check the reputation, necessary records.
If you are unable to make a choice, ask your agent. Understand what your agent has to say. Ask your agent to connect you with a financial advisor. A financial advisor will be there to understand better and make the right choice.
These are your basic tips for understanding your home loan. Taking a home loan should not be a headache when you are thinking of buying a home. Buying a home is your best choice. Let no financial question trouble you. Your home is your most stable and safe investment.