First-time home buyers: 5 mistakes that can increase your EMI burden

Choosing an excessively long loan tenure reduces monthly EMI but increases total interest paid, making the property more expensive.

Making a very low down payment increases the loan amount, leading to higher interest payments and greater repayment obligations.

Ignoring credit score impact can result in higher interest rates offered by lenders, increasing EMI burden.

Overlooking hidden costs such as processing fees, documentation charges, and insurance adds to the overall loan cost.

Borrowing at the edge of affordability leaves no room for financial shocks, potentially leading to EMI defaults.