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Q.

What's better a longer or shorter duration home loan? Which one is better a 15 years or 20 years tenure if one intends to foreclose it say after 8 years? Will I pay more in a longer duration one compared to a shorter duration one?

Tags: money, home loan, real estate
Asked by Kid, 07 Oct '12 09:19 pm
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Answers (1)

1.

You will always pay more in the longer term as the interest is accrued on the loan each year of its term so one needs to go for the shortest term which keeps the EMI within the budget of easy payment to avoid any default!!
Answered by dharamender nebhnani, 07 Oct '12 09:25 pm

 
  
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