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Disadvantages of  Home Loan

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Reason for very high interest rate payout initially is that principal component paid during initial loan years is minuscule compared to interest in total EMI.

Actual Cost of Property

In case your basic salary is more than Rs 31250 than you will be definitely at loss as your HRA benefit would have been higher compared to gain from deduction on Home Loan Interest paid.

Loss of HRA Component

Though average duration of home loan is 8 years but it is just an average. Median is normally 10-12 years.

Home Loan is Long Term Commitment

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