Home Loan in Dadar, Mumbai

Getting a Home Loan from us is trouble-free and speedy. Our Home Loans come with higher eligibility and lower EMIs and that too at attractive interest rates. We have close and strong associations with the coveted public and private banks to offer the best range of Loan options available to you. We will hold your hand and walk down the whole hog with you, from applying the loan to even assisting you in the rescheduling or loan swapping, if needed. You just need to have a word with us, rest we will takeover!The Interest Rate : The interest rate on home loans or any other loan is dependent on the apex bank’s prime lending rate to the banks also known as the repo rate. On an individual level, Home Loan interest rates are dependent on the amount sought, loan tenure and the credit rating of the borrower. Thirdly, the Home Loan interest rate can vary from lender to lender. Lenders like SBI offers a higher rate of interest rate to its new customers compared to its existing customers. Further, Housing Loan interest rates are of two kinds : fixed rate and floating. When there is a liquidity crunch in the market, the rate of interest tend to be higher, so banks are often willing to lock the loan amount at a fixed rate of interest that prevails throughout the loan tenure. But when the prevailing rate is lower, and banks see it rising in the cyclic order to things, it will either offer floating rate to its new customers (that adjusts with the repo rate) or charge a substantial higher (2-3%) fixed rate of interest, after factoring in the forecasted rise, down the line.The Eligibility : Every bank or lender follows a set of criteria in determining your ability to pay the loan throughout the tenure, before sanctioning you one. Their main interest is to be assured of a stable source of income, age and credit history, established over previous loans.How to Apply :Follow this step-by-step procedure : Download your credit report from the CIBIL site Select your property before you apply for the loan Be prepared to pay the processing fee Read the fine print and remember that fixed rates are rarely fixed Make a provision for higher down payment, that what you have been assured of – banks often haggle over these points, at the time of loan sanctioning Buy a term insurance policy with your Home Loan to run through the loan tenure, by paying a single premium. Your family should inherit your property not your home loan Equated Monthly Instalment : The Home Loan EMI is set on the loan amount, the rate of interest and the loan tenure. Any one of these variables can inflate or deflate your EMI, so spend time in setting your EMI. Creditfina consultant would gladly help you make an informed decision here. Your EMI comprises an interest component and a principal component.  A bank will first try to earn back its interest on the outstanding. As you proceed through the loan tenure, the interest component will decrease in favour of the principal component of your EMI.The List of Documents :Banks will require proof of : Your Identity Age Residence Income Employment details Submit all supporting documents to get a quick disbursal.The Sanctioning Process : It is easy to get a personal loan sanctioned (because the margin for the bank there is high) but for home loan the documentation and due diligence may take longer, as this loan is also for a longer tenure. Disbursal takes barely two-three business days, once everything is in order.Here are a few steps involved : Application Processing Documentation Sanctioning of the loan Valuation and legal check Disbursement The sanction letter may either be an unconditional letter, or may mention certain terms and conditions that have to be fulfilled before the loan is disbursed.

business finance, Unsecured Business Loan

Home loan is a loan product where the lender provides funding for purchase or construction of a house residential property. The housing loan may be availed either for buying a new house or resale of residential house. One can also avail a housing loan product, for the purpose of buying a plot of land and carrying out construction on the same, which is called composite loan.

We provider Home Loan. You can avail loan with the lowest rate of interest in quickest possible way from the bank

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