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In the realm of finance, loans come in various shapes and sizes, each tailored to meet specific needs and circumstances. One such type is the partially amortized loan, a financial instrument that combines elements of both fully amortized and interest-only loans. Understanding this unique structure is crucial for borrowers and lenders alike. This article aims to demystify partially amortized loans, explaining their features, advantages, and considerations. What is a Partially Amortized Loan? A partially amortized loan is a financial arrangement in which the borrower makes regular payments consisting of both principal and interest, but unlike fully amortized loans, the payments are not sufficient to fully repay the outstanding balance by the end of the loan term. As a result, a balloon payment, representing the remaining principal balance, is due at the end of the loan term. Key Features: Regular Payments: Partially amortized loans require borrowers to make periodic payments, typically...

Securing a home loan is often a crucial step in purchasing a home, but sometimes the approved loan amount falls short of what you need. Increasing your home loan amount can make your dream home more accessible. Here are several strategies to help you achieve this goal. Summary Increasing your home loan amount involves enhancing your financial profile, reducing existing liabilities, opting for longer loan tenures, or leveraging co-applicants. This comprehensive guide explores various methods and provides practical tips to increase your home loan eligibility and the amount you can borrow. Strategies to Increase Home Loan Amount 1. Improve Your Credit Score A high credit score indicates good financial discipline, which can significantly increase your loan eligibility. Check Your Credit Report: Regularly review your credit report for inaccuracies. Pay Bills on Time: Ensure timely payment of all credit card bills and EMIs. Reduce Outstanding Debt: Lower your existing liabilities to impro...