How Do Lenders Determine Home Loan Interest Rate?


Home loan interest rate is defined as the rate of percentage of principal amount charged by home loan lender. The home loan amount is determined by the interest rate charged by banks and non-financial institutions. The interest rate charged determines how much you must pay your lender each month against your loan. Interest rates are typically linked to the repo rate and vary by lender.

Home loan interest rates differ in every financial institution. It also vary from person to person. A very small change in the home loan interest rate can lead to an immense increase in overall interest paid.

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Created by ipooja 16 weeks 1 day ago – Made popular 16 weeks 9 hours ago
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