Home Loan: Beyond EMI - Uncover Hidden Charges & Rates Before You Apply

• Home loan expenses extend beyond just the interest rate and EMI, with many hidden fees before, during, and after disbursal.
• Key upfront costs include processing fees (0.25%-1% of loan amount), stamp duty (3.5%-9% of property value), and registration charges (1% of property value).
• Stamp duty and registration charges, a state government tax and central government fee respectively, can add 4-10% to your total property cost and are not covered by the loan.
• Other charges to budget for include legal/technical fees, franking charges, MODT, prepayment charges (for fixed-rate loans), late payment fees, and GST.
• Interest rate type (fixed vs. floating) significantly impacts total cost; floating rates are tied to external benchmarks and often allow free prepayment, while fixed rates offer predictable EMIs but higher starting rates.