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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 …
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, …
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 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 …
What is Down Payment? A down payment is your money contribution in purchasing a house. It is the percentage of the purchase price of the house which you do not finance. Also referred to as own contribution or OCR in the mortgage industry, down payment is your equity in the house without which the funding …
Since home loan is a long-term financial commitment, the choice of selecting the best suitable home loan is the most crucial decision, which if taken correctly can save money in both short term as well as in long term. But there are these few common mistakes usually committed when it comes to availing a home …
Even though the lender -Bank/NBFC/HFC differ in their marketing style, advertisement approach with ROI (rate of interest) & PF (processing fees), etc., the internal home loan procedure remains the same with all lenders. Many of us are already aware of the loan process for various types of loans. But for those who are still unaware …
I) Mortgage Loan Documents Required For Sanction Process KYC Company pan card copy along with director’s signature & stamp. Pan card copy of all directors. Passport size color photograph of all applicants. Copy of residence proof (passport/electricity bill & Aadhaar card copy) of all directors. Copy of office proof (electricity bill/telephone bill). Pan card of …
I) Mortgage Loan Documents Required For Sanction Process KYC 1) Pan card copy of all partners. 2) Company pan card copy along with stamp & director signature. 3) Copy of residence proof (passport/electricity bill & Aadhaar card copy). 4) Copy of office proof (electricity bill/telephone bill) of partnership firm. 5) Latest passport size color photograph …
I) Mortgage Loan Documents Required For Sanction Process KYC 1) Pan Card copy of the applicant and co-applicants. 2) Latest passport size colour photograph of applicant and co-applicants. 3) Residence proof – copy of aadhaar and electricity bill. Financial Documents 1) Latest 3 years ITR copy with Saral Copy, Balance Sheet, P&L account, Capital Account …