Tuesday 31 January 2023

Home 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. UNITED FINANCIAL SERVICES 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 a home loan UNITED FINANCIAL SERVICES in Mumbai for affordable housing loans in Mumbai & Than

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 company

• Self-employed person - Proof of having at least 3 years in the current

business


Income

• Salary Person - Minimum Rs. 20,000 per month

• Self-employed persons - Minimum Rs. 250,000 per year


Credit score

• Generally, a credit score of 750 is considered a good score for home

loan approval


Other eligibility criteria


• Must have resided in the city of residence for at least 3 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 40% of your monthly gross

income.

• Make sure your credit history is not bad before applying for a home

loan.

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Progress History

RAMDEV FINANCE is your One Stop Financial Solutions providing umbrella services for all your finance needs

Home Loan
90%
Loan Against Property
75%
Working Capital
85%
Construction Finance
95%

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