Do you know about these charges for buying a house?

If you too are thinking of buying a house and are only guessing that apart from the cost of the house, you will have to spend money separately on the down payment and stamp duty.

If you are also thinking about buying a home, then you must take care of some things.

The number of people buying a home loan is increasing steadily. In such a situation, if you too are thinking of buying a house and are only guessing that apart from the cost of the house, you will have to spend money separately on down payment and stamp duty.

We are telling you how much you will have to pay for some charges and fees separately.

No home loan will be available for the full value of the house-- 

Any bank or NBFC give loans up to 80 percent of the value of the property. After this, you have to arrange for the money you want. It is also called a down payment.

According to the credit score---

The loan amount is given by the bank and other financial companies to check your credit score. If your credit score is low, the bank can reduce the loan amount.

The commission will also have to be paid for purchasing the property--

On the house taken with the help of a broker, you will have to pay the brokerage amount. Brokerage fees can be up to 2% of the property value. Apart from this, GST is also levied on this amount. The brokerage amount can be less for expensive property and more for a cheaper property.

Stamp Duty and Registration Charge In buying a house--

you also have to pay stamp duty and registration charge. This amount can vary depending on the location, state, facilities, and purpose of the property, age of the property, age and sex of the landlord, etc. is.

Before signing any document, you should know about the registration charge and stamp duty. 
Stamp Duty - 
Registration Charge 5-6% of the Circle Rate of the Property - 
A surcharge of 1% of the value of the property - 
2 or 3% of the stamp duty 
Cess - 10% of the stamp duty

Let us understand in detail:
1. Loan processing fees - This can be up to 0.25- 2% of the amount of home loan.

2. Prepayment Charge - If you are taking a loan at a fixed rate, then a prepayment charge of up to four percent of the loan amount can be taken if the home loan is repaid ahead of time.
3. Late payment charge - As a late payment charge, you may have to pay up to two percent per month on the loan amount.

Technical evaluation fees are usually for expensive assets. Legal fees are charged for checking the documents related to the property.

You are also charged for changing the repayment mode swap charge loan from fixed to floating, fixed to hybrid, floating to fixed, etc. Its amount can be from 0.5% to two percent of the loan amount.

In addition to the down payment in buying a house, you also have to pay 0.1% to 0.5% of the home loan amount in the form of a memorandum of deposit of the title deed (MODT). This amount has to be given to the bank when you submit the documents related to the property.

Apart from buying a house, you may also have to pay expenses such as interior decoration charge, woodwork and carpenter charge, water connection and electricity fitting, piped gas connection, flooring and furnishing charge, painting and waterproofing.