Home loans are provided based on the market value, mainly estimation given by any banks or the registration value of the property. We make arrangements for home loans from leading banks and financial institutions.

Home Loan Features

Purpose: For purchase of house from builder / resale and construction / extension of existing house.

Loan amount: You can avail for Home loans depending on your eligibility, income and repayment capacity.

Eligibility

Banks determine your eligibility based on your repayment capacity and discuss about the loan amount up front. The eligibility for acquiring a home loan is augmented by clubbing income of your parent/spouse/siblings (co-applicants), by clearing your outstanding debts, by stretching your loan tenure, Salaried individuals can increase their eligibility by showing their performance linked income or bonus earned.

Interest rates best suited

Fixed interest loans charge an interest, which remains the same through out the tenure of the loan. consumer is immune to market risk or the possible upward movement in the interest rates. Hence, fixed rate is a good option when the home loan interest rates are expected to move up in the future.As for floating rate loan, a consumer is exposed to market risk and his gain or loss depends on the interest rate condition prevailing in the market. Floating rate is beneficial if the interest rate falls in the future. A floating rate is considered non-transparent and is also known as ‘adjustable rate’.

Documents Required

Self employed and salaried require different documents namely latest salary slips, bank statements , identity proof ,contruction agreement etc to support the deal. The interest rates , EMIs and processing fee are the cost factor. Once you have received the Home loan do your best to pay it back as quickly as possible. Also, this early payment might invite a pre-payment clause.