June 2021 – Loanfasttrack

13 Important Things To Remember Before Prepaying Your Home Loan

June 13, 2021 by admin

Prepayment of housing loan means paying an additional amount to your home loan over and above the principal & the interest amount. Prepayment on home loan can either be in full or in parts. You can either choose to repay your home loan fully which is also referred to as home loan foreclosure/ home loan …

Fixed Obligation To Income Ratio (FOIR) (All You Need To Know About FOIR)

June 11, 2021 by admin

All lenders Banks/NBFCs/HFCs have stringent criteria to determine the eligibility and the creditworthiness of the loan applicants. The Repayment of a loan is one such important measure that determines whether a loan applicant is eligible or not eligible for a loan. Before approving a loan to the applicant the lender thoroughly checks his CIBIL history, …

Loan-To-Value Ratio (LTV) (All You Need To Know About LTV)

June 8, 2021 by admin

LTV Meaning LTV is one of the major factors in determining your loan eligibility especially in secured loans such as home loans, mortgage loans & commercial loans where a property is pledged as a collateral to avail a loan. It is an important determinant based on which the lender Banks/NBFCs/HFCs approves the loan. LTV full …

Home Loan Sanction v/s Home Loan Disbursement

June 9, 2021 by admin

Home loan sanction and disbursement are two important processes of home loan processing. The sanction is proof that your home loan has been approved by the lender Banks/NBFCs/HFCs, which is validated by issuing a home loan sanction letter and hence the housing loan sanction letter serves as proof that you are eligible for a home …