Home Loan Conversion – Option to reduce Home Loan Interest

Home Loan Conversion – Option to reduce Home Loan Interest

Finances News

Home Loan Conversion is one of the best ways to reduce your home loan interest rate. I recently got a query from one of the readers asking that – I am an existing borrower and my home loan rate of interest is 8.1%. The rate of interest rate declared by the bank for the new customer is 7.2%. How existing borrower can opt for a reduced interest rate? – Well, I gave two options (1) Refinance – Home Loan switch (2) Home Loan rate conversion. He opted for Home loan conversion and he could reduce home loan interest from 8.1%