A STUDY ON AWARENESS AND PERCEPTION OF HOUSING LOAN UPTAKE
Keywords:
Home loan uptake, ABCD Analysis, Awareness of home loan, Perception of housing uptakeAbstract
Objective: The excitement of buying a dream house is no less satisfying than receiving a promotion after years of hard work. The need to own a house is every middle-class family’s desire. The study is an attempt to understand the awareness and perceptions towards Home Loans. The purpose of the study acts as a guide for beginners who want to analyze the various aspects that need to be considered before opting home loan from various financial institutions ABCD analysis also has been undertaken to analyze its Advantages, Benefits, Constraints, and Disadvantages.
Methodology: A Secondary source of information has been used in the study to understand the broader view of home loan uptake. The study is done by analyzing various publications, journals, RBI, Springer, Google Scholar, Srinivas Publications, Research Gate, SSRN, etc.
Findings: The result of an extensive review revealed that most people are still not aware of the housing loan facility provided by various financial institutions. Demographic factors, social factors, and financial factors are some of the factors that influence home loan uptake. The perception of the home loan borrowers varies depending on their age and income group. A home loan is a long-term investment and is a long-term commitment. With the desire to lead a happy life in a dream house, individuals choose to make a long-term investment. Credit scores and tax benefits are the major reasons for the increase in home loan uptakes.
Practical Implications: This research is a guide for beginners who want to analyze the various aspects that need to be considered before opting home loan from various financial institutions
Originality/value: The study is a live guide for beginners who want to analyze the various aspects that need to be considered before opting home loan facility from any financial institution. The secondary analysis has been done to collect various sources of information related to the study. The concept of perception and awareness can be better understood by the primary survey. Therefore, it is a limitation of the study.
