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Apr 23 • 7 tweets • 2 min read
Few types of Mortgage loans 🏫

• Home loans
• Commercial Property Loans
• Loans Against Property

But what is a Mortgage loan?

Let's find out. ⤵
A mortgage loan is a secured loan in which the borrower offers an immovable asset such as a house or land as collateral to the lender in exchange for a loan.
The borrower is given possession and ownership of the asset for which they take the loan.

#StocksToBuy #stocks
1️⃣Home loans

A home loan is a form of mortgage loan taken out by a borrower solely for the purpose of constructing or purchasing a home.
2️⃣Commercial Property Loans

This is a sort of commercial mortgage loan that is approved for the construction or purchase of business property.
3️⃣Loans Against Property

This is the most unique kind of mortgage loan. Unlike the two mentioned above, Loans against property need not have any specific use for buying a property, it can be used for any personal use like child’s education, marriage, or other personal expenses.
There are 5+ additional things in mind to keep before taking a Mortgage Loan

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More from @myfinology

myfinology Profile picture
Apr 25
One crore retirement fund or 40 lakhs home loan repayment!

What should you target first?

Read the thread to know ⤵️
There is no one answer to this query as it always depends on an individual’s financial situation and their emotional relationship to money.

How to decide?

#personalfinance #investing
👈 Emotional Factor : Some people are not comfortable with a large loan and to reduce their stress they may want to get rid of the loan burden at the earliest.

Like people with unstable earnings or some serious health condition should first focus on debt repayment.
Read 10 tweets
myfinology Profile picture
Apr 22
Did you know? 🤔

There is an insurance policy that covers incidents against GHOSTS.💀☠

Let's find out more about it. ⤵ (1/6)
Spooksafe insurance policies cover all incidents that are of paranormal or supernatural nature.

(2)
Spooksafe policies cover the incidents of the following nature:

👉Death by a paranormal or supernatural body/activity.

(3)
Read 6 tweets
myfinology Profile picture
Apr 14
You can save 28 Lakhs while paying a Rs 50 Lakhs home loan 🤯

Let’s find out how ⤵️
Buying your own house is the best feeling especially when you have been paying rent for a very long time.

Also people feel it's better to pay home loan EMI than to pay rent to a landlord, as at the end of the loan tenure, you get the ownership of your dream home! 🏠
But, by the time u repay ur home loan, the interest cost runs into a sizable amt, sometimes 2x of your principal!

For e.g.: A loan of 50 Lakhs will cost you ~ 1 Crore incl. interest of 50.37 Lakhs (assuming 8% int. rate & 20 yrs tenure).

Then how to pay the loan effectively? 🤔
Read 13 tweets
myfinology Profile picture
Apr 13
Who won the Mutual Fund battle of 2021? 🏆

In terms of AUM growth:
• Quant AMC 801%
• PPFAS 165%
• PGIM 153%
• ITI 131%
• Canara Robeco 70%

Who are the losers? ⤵️

#investing
Highest AUM degrowth:
• Franklin - 24%
• Indiabulls - 18%
• JM Financials - 3%
• IDFC - 1%

Should you make your investment decision based on this? 🤔
The AUM growth of a fund can be because of two reasons:

• Increase in fund inflow
• Increase in the market value of holdings/assets
Read 6 tweets
myfinology Profile picture
Apr 12
4 Awesome Ways to Destroy your Wealth 😈

Let’s find out ⤵️

#PersonalFinance
❌ 𝗗𝗼𝗻’𝘁 𝘀𝗮𝘃𝗲 𝗺𝗼𝗻𝗲𝘆

One of the worst life advice which you could follow is “Do not think about the FUTURE”!

It reminds us of the popular KBC contestant Sushil Kumar, who lost his winning prize money worth Rs 5 Cr. due to financial mismanagement 😵‍💫

#MONEY
❌ 𝗧𝗮𝗸𝗲 𝗹𝗼𝗮𝗻𝘀 𝘁𝗼 𝗳𝘂𝗻𝗱 𝘆𝗼𝘂𝗿 𝗹𝗶𝗳𝗲𝘀𝘁𝘆𝗹𝗲

A big house, a fancy car or an exotic vacation is a dream of many! But no way it symbolizes your financial prosperity.

Many examples like Anil Ambani, Vijay Mallya, etc lost their prosperity to high debt burden 🫤
Read 6 tweets
myfinology Profile picture
Apr 12
🟢Few terms related to Options Trading.

• In the money
• At the Money
• Out of the money
• Spot Price
• Strike Price
• Lot size

Let's understand them in detail. ⤵
1️⃣ In the money

Call: A call option is In-the-Money when the spot price is above the strike price.

[Spot Price > Strike Price]

Put: When the spot price is below the strike price, it is the In-The-money put option.

[Spot price < Strike price]
2️⃣ At the Money

The situation in which the strike price is equal to the spot price is an At-the-money contract.

[Spot price = Strike Price]
Read 8 tweets

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