Home Loans
Helpful tips to Get the Best Home Loan Deal
Home loans are provided based on the market value, mainly estimation given by banks or the registration value of the property. Home loan is not a one-time decision; do review the market periodically before availing them. Customers tend to make mistakes while entering into deals, which may not be beneficial for them, so better compare all the variables before signing a loan agreement by different banks. The various parameters that you need to compare on Home loan are
- Eligibility
- Interest rates best suited.
- Fixed interest loans or Floating.
- Other costs.
- Document required.
- Penalties.
| Documentation and Eligibility for Housing Finance Institutions | ||
| Salaried | Self employed | |
|---|---|---|
| Age | 24 years to 60 years | 24 years to 65 years |
| Loan Amount Offered | Rs.1Lac to 50Lacs | Rs.1Lac to 50Lacs |
| Processing Fee | 1% of the Loan Amount + applicable taxes | 1% of the Loan Amount + applicable taxes |
| Documentation | 1) Application form with photograph | 1) Application form with photograph |
| 2) Identity & residence proof | 2) Identity & residence proof | |
| 3) Latest salary slip, | 3) Education qualifications certificate & proof of business existence | |
| 4) Form 16 | 4) Business profile, Last 3 years profit/loss & balance sheet | |
| 5) Last 6 months bank statements | 5) Last 6 months bank statements | |
| 6) Processing fee cheque | 6) Processing fee cheque | |
The Housing loan institutions whom we deal with most often
