Improve your credit score (aim for 750+) before applying. Compare at least 3–5 lenders. Negotiate — banks often offer better rates to existing customers. Consider offering collateral for secured loans.

Fixed rates offer certainty — ideal if rates are low and expected to rise. Floating rates can save money when rates fall but create uncertainty. Some lenders offer hybrid: fixed for 3–5 years then floating.

Even one extra EMI per year saves years of interest. Apply windfalls (bonuses, tax refunds) to principal immediately. Most home loans allow pre-payment without penalty — check your agreement.

Keep total monthly EMIs below 40% of your gross income. Higher DTI ratios signal financial stress and may affect future credit applications. Track all EMIs together, not each loan in isolation.

Refinance when market rates drop by 0.5% or more vs. your rate. Factor in processing fees and pre-payment charges. Refinancing in the early years saves the most — interest is front-loaded in standard EMI.

Term insurance for the loan amount protects your family from the debt burden. Avoid bundled insurance sold by lenders — it’s often expensive. Buy standalone term cover for better value and portability.