Buying a home is life’s greatest joy. But realising this dream and making it a reality are not easy. You have to follow certain procedures carefully. These are not difficult but they require your time and attention. A major component of buying a house is getting a good Home Loan. The housing loan process starts with submitting the required Home Loan documents to your lender. You also have to get the necessary checks done and pay the required fees. Once your loan approval comes through,...
Want to apply for a Home Loan, but don’t have much idea of the document required for Housing Loan, eligibility and many more unexpected factors? Let’s provide you a quick bite into the world of Housing Loans.
So, before we jump to the documents required for Home Loan part, won’t it be good if you know something about the Home Loan and things around it? Let’s go!
What is a Home Loan?
A Home Loan is money or the capital or wealth which a bank or a non-banking...
Your loans, credit card dues, and other existing debts can be a burden to your finances over a period of time if you aren’t able to make timely payments or make payments in full. On the other hand, even if you are clearing your dues on time and staying on track with EMI deadlines, nothing feels as good as getting debt-free completely does. To achieve this you must plan your finances effectively and combine it with resources such as loan against property in India. You can apply for this...
In the present day economy, a Personal Loan can easily be categorised as one of the most sought after credit types. This can be easily justified by some of the inherent benefits that a personalloan offers, which include-
Freedom of End-Use
Up to 5 Years of Repayment Tenure
Flexible Repayment Options
More often than not, in order to obtain a Personal Loan, you may be required to furnish the following...
There's no better time than now for the prospective home-owners who have been looking to dabble in the real estate market. Regarded as the country's largest lender by assets, State Bank of India (SBI) has announced another steep rate cut following RBI’s fourth consecutive repo rate cut this year. For the uninitiated, the repo rate can be described as the interest rate at which the RBI lends money to commercial banks.
MCLR Cut – August With effect from 10th August 2019, SBI...
A low rate of interest is the only factor that customers look for when finding a loan. Hence, financial institutions also compete with each other for offering attractive interest rates. You can avail loans under two categories – secured and unsecured. The interest rates of these are considerably different.
Unsecured or collateral-free loans don’t require the customer to pledge an asset with the lender. However, these loans come with considerably higher interest rates....
Purchasing a house is the dream of many people; however, most of the people are not able to live their dream due to the non-availability of the funds. If you are also falling short of money to get your dream house, then apply for a home loan and get instant funds. Although the home loan rate of interest is quite affordable but it is widely dependent upon various factor. Here are some of the major factors which affect your eligibility for the loan; take a look:-
Age of the applicant –...
Pune is the second largest city in Maharashtra and is considered as the cultural capital of the state. The city is also known for manufacturing, automobile, government and private sector research institutes as well as educational, management and training institutes which in turn attracts students and professionals from across the country. This has led to the growth in the housing sector which means more demand for housing loans in the city. However, the process to apply for a home loan can be a...
A Home Loan is imperative for buying a dream home today; especially with the overload of flexible Home Loan schemes and EMI options for the borrowers in the current market space. While most housing loans are extended with ease of repayment owing to 20-30 years of loan tenure; borrowers must prepay the loan as and when possible, as per their capacity. For, paying the loan faster than the anticipated tenure helps you save enough on the loan interest and eases debt stress to a great...
Today, getting a dream house is incomplete without getting a home loan. Thus, getting an ideal loan is as important as finding an ideal home for you and your family. In a competitive world, there are not less than 50 home loan lenders who are keen on giving home loans to people looking to buy a home seeking these groups. However, the big question that comes into the picture, whom (lender) should you choose for getting your home loan. After all, taking a home loan is announcing a long-term...
Unemployment is one of the biggest evils that our populous country has been grappling with. While the education system is progressing, there is still a large chunk of the population that is still sitting at home unemployed. As per the statistics reported by the Periodic Labor Force Survey, the unemployment rate was close to 5.3% in rural India and about 7.8% in urban India in 2017-18.
Herein it is good to know about certain government loan schemes which the unemployed youth...
Buying a house is the top priority of every individual in India, but due to the high property rates, it is not possible for everyone to buy a house. It involves a huge sum of money to buy a house. With the rising realty rates, people often turn towards Financial Institutions and Non-Banking Financial Companies (NBFCs) for financial aid to buy a house.
When you apply for a Home Loan, you need to plan it well. A loan can only be beneficial if you choose the right combination of the principal...
If you are a salaried individual trying to make both ends meet, having your own house or being the owner of a small property is perhaps a cherished dream. You compare home loans periodically, but that dream for you seems out of reach, even if you are stretching yourself to save up for the down payment of your home someday. This is not because of home loan interest rates but the fact most lenders have rather stringent eligibility criteria for aspiring borrowers. If you have taken a step back...
Loan Against Property Eligibility
Loan against property (LAP), is one of the alternatives of personal loan, that a customer can avail by keeping their property as mortgage with the loan lending bank or financial institution.
Banks provide loan against both commercial and residential property. Although such property is mortgaged to the loan lender, but the customer can still continue using it for residential or...
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