Housing Loan
A housing loan/home loan is usually taken for purchase, construction, or renovation of a property. The property remains with the lender as security for the duration of the loan. Interest rates on home loans are fixed or floating. UNICAP FUND SOLUTION is a home loan professional who offers you the best home loan rates in Mumbai at low home loan interest rates, fast home loan approval. We are Providing for affordable housing loans in All Over Tamilnadu.
You can take out a home loan for reasons like:
Buy a House
The most common type of loan to buy house is a mortgage property until you repay the loan.
House construction
If you have land and you need money to build a house on it, then you can choose a house construction loan.
Expansion of the house
If you already have a home, and want to expand it, you can choose this option.
Home renovation
Home renovation loan is best suited for improving and upgrading existing homes
for a better life.
Land purchase
Loan to purchase land is designed to facilitate the purchase of land/plots.
Balance transfer
Home Loan Balance Transfer lets you transfer your high interest rate loan to a
low interest rate bank or financial institution to reduce your EMI burden.
Steps To Get Home Loan
• Fill out and submit a home loan application.
• Submit the required documents for further processing.
• Pay the home loan processing fee.
• Your home loan application and documents will be examined and verified.
• Your home loan application will be sent for approval or approval.
• Your lender will visit the property you want to purchase for legal
inspection.
• After approval, your home loan amount will be disbursed by check.
How To Loan Eligibility Criteria
The basic home loan eligibility criteria are as follows:
Age
• Salary Person - 21 years to 58 years
• Self-employed persons - 25 years to 65 years
Employment
• Salary Person - At least 2 to 3 years proof of working in a Private or
Public limited or Propertiorship or Partnership or Handcash company
• Self-employed person - Proof of having at least 1 years in the current
business
Income
• Salary Person - Minimum Rs. 15,000 per month
• Self-employed persons - Minimum Rs. 250,000 per year
Credit score
• Generally, a credit score of 650 is considered a good score for home
loan approval
Other eligibility criteria
• Must have resided in the city of residence for at least 1 years.
• NRIs can be made only through normal banking channels or by
sending NRIs from abroad through this account.
• If you are a salaried professional, your monthly EMI can be
considered against a loan of about 50% of your monthly gross
income.
• Make sure your credit history is not bad before applying for a home
loan.
Mera Market LLP
Seo Construction
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