To make your home loan journey a smooth sail, in this article we will help you to know eligibility criteria, rates of interest, process, necessary documents, comparison and transfer for lowest rates.
To make your home loan journey a smooth sail, in this article we will help you to know eligibility criteria, rates of interest, process, necessary documents, comparison and transfer for lowest rates.
We offer a variety of home loan options to help you achieve your dream of homeownership.Whether you’re a first-time homebuyer, upgrading to a larger home, or refinancing your existing mortgage, we’re here to help
Home loans come with competitive interest rates, flexible terms, and easy online applications.online application process is quick and easy, and you can receive a decision within minutes. If approved, you can close on your loan as soon as 30 days.
Our experienced loan officers can help you determine which loan type is best for your situation.
Home loans are typically used to finance the purchase of a home or refinance an existing mortgage
The most common use of a home loan is purchase of a home. Whether you’re a first-time homebuyer or upgrading to a larger home, a home loan can help you purchase the home of your dreams.
Homeowners can use a home loan to finance home improvement projects, such as a kitchen renovation, bathroom remodel, or a new roof.
This type of loan can be used for individuals wants to extend or add more space to the home. For instance, adding a room as per growing family needs.
It can be availed by an individual who wants to transfer an existing home loan from a bank/NBFC to another provider/lender for getting a lower interest rate from the new lender and availability of top-up facility.
Home loans have several features that make them a popular financing option for homebuyers..
Any salaried, self-employed or professional Public and Privat companies, Government sector employees including Public Sector is eligible for a home loan.
Borrowers must be at least 21 years old and Maximum age is 58 or 60 subject to retirement age
Lenders will review a borrower’s income and employment history to ensure that they have a steady source of income to repay the loan. Lenders typically prefer borrowers to have at least two years of employment history.
Lenders will review a borrower’s credit score to determine their creditworthiness. Most lenders prefer a credit score of at least 620, but some may require a higher score.
Check below questions to get more clarity about the loans.
The home loan amount depends on your repayment capability and is restricted to a maximum of 80% -90% of the cost of the property or the cost of construction as applicable.
The interest rate varies from one bank to the other bank. And usually it varies from 8.65%-13% depending upon your profile and the policies/scheme you opt for.
You are going to take a home you need to decide, the type of interest rate you want to pay to the bank. The banks will offer you with an option of a fixed rate or a floating rate. A fixed interest rate means that you will have to pay same EMI over a period of time. It may be fixed for entire tenure. Floating interest rates may change at any given point of time, which may result increase or decrease in either your EMI or your tenure.
Now apply for a Home Loan online, All you need to do is provide your details below application form.