My friend recently wanted to buy a flat in Gurgaon. He works for a multinational company and wanted to avail housing loan for buying this property. We started looking at some of the properties and as usual it is not easy to finalize a property that too when you want to buy it for end use. As the hunt continued we realized that we should apply for a loan even before we finalize the property.

My father bought his first property in 1999 as ready to move in house for our staying. This was a house constructed on 350 sq yards of plot in posh locality of one of the districts in Haryana. It was his long awaited dream come true - to own his own house and I still remember how he struggled to get the home loan sanctioned for the same. He owned his own house at an age of 53 years.

Home Saver loan is a revolutionary home loan concept designed to help reduce the interest paid, and pay off the loan faster.I am just penning down my personal experience with the home saver loan and that too after having used the traditional home loan product for more than 5 years.