Extra Costs in Home Loans Hidden costs’ in a home loan, a term we all are familiar with. Many a times we go to purchase some good and we are made to pay ‘taxes extra’ an amount more than the printed price. Usually there is a small asterix below any advertisement which we do not pay much attention but during purchase it increases the price. The same matter happens with home loans. We see heavy discounts and low interest rates but we do not consider the hidden costs that we end up paying during taking a loan for purchasing a home. A home loan may be in simple terms amount borrowed by the borrower from the lender for a certain period of time with a certain amount of interest charged with the amount to be paid. As an individual comes up with the decision of taking a home loan one is usually not aware of other processing charges and this may lead to quite some amount if not prepared for. Also certain financial institutions may make the borrower open account in their ban...