Home Loan

Everybody dreams for a new house. But not all can afford it due to scarcity of own fund. However, as on today there are number of opportunities including private finance for having a home loan.

Home loans help you with a lump-sum advance of funds towards buying your desired property, this amount will be repayable with interest. However, you can re-pay the amount advanced via EMIs (Equated Monthly Instalments), thus enabling you to approach realizing your home dream in a convenient and structured way.

Home loan applications generally follow a process such as:

Application: You will need to apply for a home loan, this can be done online or at bank branches/loan centres.

Loan Sanction: Post submission of your application and review of necessary KYC and documents of financial stability, the bank/ or any other loan agency shall sanction your loan amount.

Review: Once the loan is sanctioned, you will need to submit the documents pertaining to the property against which your loan is sought, for technical and legal review.

Approval & Disbursal: Upon validation of your loan amount and the property found, the bank shall approve and disburse your loan.

Bank or Loan Agency considers multiple factors to determine home loan eligibility, including but not restricted to:
 

• The Income of all applicants


• Age of the primary applicant


• Number of dependents that the applicants support


• Assets and liabilities of the applicants


• Stability and continuity of the primary applicant's occupation


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