Mortgage Repayment Options: EMIs, Prepayment, Foreclosure

Ans: Yes, borrowers can choose a combination of repayment options based on their financial circumstances and goals. For example, they can opt for regular EMIs while also making occasional prepayments to reduce the principal amount and save on interest. Discussing the options with the lender and seeking professional advice to make informed decisions is advisable.

Ans: In most cases, the EMI amount is fixed based on the loan terms and cannot be changed during the loan tenure. However, some lenders may offer the option to change the EMI amount under certain circumstances, such as financial hardships. It is advisable to check with the lender regarding their policies on changing EMI amounts.