How much down payment is required to buy a flat in Bangalore?
Purchasing a house is an important investment move for families and investors. Demand for new-age homes has surged, and the city has quickly become an IT and business hub. Even if you are thinking of taking a home loan to finance your Purchase, there is an upfront down payment that every bank or financial institution requires. Below is all the information you need on down payment for flats for sale in Bangalore . It helps you in making the transition into a homeowner easier with proper financial planning. What is a Down Payment? The down payment is the buyer's first contribution toward buying a home, paid directly to the builder or seller of the home. Buyers pay the balance of the cost with a mortgage on the house. Indicatively, banks may not give you a 100 percent loan for home, vehicle, and education loans since both the Reserve Bank of India (RBI) and the housing finance companies mandate that the borrower contribute towards the asset's cost. Normal Down ...