In this post, we are going to know you. How can you easily fulfill your money problem by taking an online Home loan and no need to ask anyone for money? We are going to discuss the online home loan,
- 1) What is a home loan?
- 2) How to get a home loan?
- 3) Which documents are used in a home loan?
Home Loan Application 2021
Compare Interest Rates Online
First of all, you guys will check which bank is giving you the loan at low interest, for this you can find out about it from many websites online.
Make An Inquiry Online Or Directly At Bank
Negotiate Lowest (Best Possible) Interest Rate
Negotiate Lowest Interest Rate is available only to those people whose credit score is good and income is seen.
Processing Fee & Other Charges
Processing Fee: 0.25% – 1% Of Loan Amount
Legal & Technical Due Diligence Charges
1.) Application Form With Photograph Dual Signed
2.) Identity, Residence, And Age Proof
3.) Last 6 Months Bank Statements
4.) Last 3 Month Salary-Slips
5.) Processing Fee Check
6.) Form 16 / Income Tax Returns
7.) Proof Of Business Existence
8.) Business Profile
Due Diligence By Bank
Bank Statements Scrutinized For:
Transactions – Business Activity, Saving, Credit, Investing
Average Bank Balance
Check Returns And Check Bounces
Other Loans And Liabilities
Net Income To Calculate Loan Eligibility
CIBIL Score – Credit & Repayment Record
Verification Of Residential Address, Contact Details
Employer Credentials – Company Address, Industry, Organization Stability
Physical Visits Will Be Made By Bank Representatives
Physical Visit To Property – Assess Condition, Construction Quality, Encroachments, etc.
Property Valuation – By An Approved Valuer
Additionally For Under – Construction Property
Stage Of Construction And Satisfactory Progress
Quality Of Construction
Approved Layouts And Building Plans
Legal Due Diligence
Title Check – Legal Ownership And No Encumbrances
Property Documents – Title Documents (Sale Deed), Possession Certificate, Agreement For Sale
Under-Construction – Land Title Check Of Builder, Allotment Letter, Builder-Buyer Agreement, Check If Project Already Approved (APF Code).
So, friends, I have given you information about Home Loan today, hope you have understood everything, like this post, share it, thank you from the heart for taking time out of your precious time to read.