Home loans are one of the best mediums seen to help a citizen purchase their dream house. Home loans reduce the burden of gathering lump-sum cash, and instead provide a flexible payment mechanism in the form of Equated Monthly Instalments (EMIs). Just like any other EMIs on a term loan, home loan EMIs involve a percentage of your principal loan amount along with the prescribed percentage of interest rate that your lender has levied on you for borrowing. These EMIs are paid on a monthly basis. However, in times to come, borrowers do have the benefit of transferring their home loan balances to from one lender to other lender.