You can generally seek a first time home loan for buying a house or a flat, renovation, extension and repairs to your existing house. Most banks have a separate policy for those who are going for a second house. Please remember to seek specific clarifications on the above-mentioned issues from your commercial bank. Quick Form for Personal Loan in Delhi NCR Click here
Your bank will assess your repayment capacity while deciding the home loan eligibility. Repayment capacity is based on your monthly disposable / surplus income and other factors like spouse’s income, assets, liabilities, stability of income etc. The main concern of the bank is to make sure that you comfortably repay the loan on time and ensure end use. The higher the monthly disposable income, higher will be the amount you will be eligible for loan.
You repay the loan in Equated Monthly Installments (EMIs) comprising both principal and interest. Repayment by way of EMI starts from the month following the month in which you take full disbursement.
In addition to all legal documents relating to the house being bought, banks will also ask you to submit Identity and Residence Proof, latest salary slip and Form 16 and last 6 months bank statements/Balance Sheet, as applicable . You also need to submit the completed application form along with your photograph. Loan applications form would give a checklist of documents to be attached with the application.Do not be in a hurry to seal the deal quickly. Quick Form for Personal Loan in Delhi NCR Click here
Banks generally offer either of the following loan options: Floating Rate Home Loans and Fixed Rate Home Loans. For a Fixed Rate Loan, the rate of interest is fixed either for the entire tenure of the loan or a certain part of the tenure of the loan.In case of a pure fixed loan, the EMI due to the bank remains constant. If a bank offers a Loan which is fixed only for a certain period of the tenure of the loan, please try to elicit information from the bank whether the rates may be raised after the period (reset clause). You may try to negotiate a lock-in that should include the rate that you have agreed upon initially and the period the lock-in lasts.
Deals4Loan is an Authorized Direct Selling Agents of various National, Multinational and Non Banking Financial Companies for promoting their sales for asset division. Quick Form for Personal Loan in Delhi NCR Click here
Home Loan from Private Bank: Bandhan Bank, Corporation Bank, DCB Bank, Federal Bank, IDFC Bank, Indian Bank, Indian Overseas Bank, Oriental Bank of Commerce, South Indian Bank, HDFC Bank, ICICI Bank , Yes Bank, Axis Bank, Kotak Mahindra Bank, Standard Chartered Bank, HSBC Bank, Deutsche Bank, Induslnd Bank and RBL Bank.
Home Loan from Non Banking Financial Company (NBFC): DHFL Home, Indiabulls, Tata Capital, Bajaj Finserv, Capital First, Fullerton India, Aditya Birla Finance, LIC Housing Finance, Magma Fincorp, Reliance Capital and Tata Capital.
Deals4Loan will get you an approval in Less Processing Time, Easily Available Loan, Lowers Interest Rates and No Agent or Middleman Charges.
A sum of money borrowed from a financial institution or bank and NBFCs to purchase a house. Home loans consist of an adjustable or fixed interest rate and payment terms.
Home Loan is a Secured loan offered against the security of a house/property which is funded by the bank’s and NBFCs the property could be a personal property or a commercial one. The Home Loan is a loan taken by a borrower from the bank issued against the property/security intended to be bought on the part by the borrower giving the banker a conditional ownership over the property. Read more...
Home Loan Interest Rates is one of the first parameters that one considers along with other value adds like pre-closure options, part payments etc. Interest rates are the rate at which the bank is willing to lend money to you which in turn is their source of income. Read more...
If you are a first time home buyer looking for Home Loan, here is the step by step guide to the process of obtaining a home loan. Start Home Loan Process follow these simple steps. Read more...
The Home Loan Documentation process varies from individual to individual. The requirements are based on your profession, income and loan requirement. Read more...
Have a Question regarding Home Loans? Check out Frequently Asked Questions about Home Loans. Find the answers to all your Home Loan queries and Get your clarification. Read more...
Deals4Loan will get you an approval in quickest possible time. All you need to do is visit Deals4Loan.in and fill an enquiry form. You can also drop a mail to [email protected] or call to +91- 8700253734. A Deals4Loan representative will get in touch with you and collect your documents from your doorstep. Apply for Home Loan Now