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under construction property home loan

Home loan in India is supposed to be among one of the best credit tools available in today’s investment scenario. There is a wide array of Home loans available to suit the needs and requirements of the homebuyer. Various banks offer a loan for Under construction property, where the home is not yet completely constructed. Under this, …

composite home loan

What composite home loan? The composite home loan is a loan drawn out by banks and financial institutions to buy or procure a plot of land for constructing a house on it within a given time frame. You can call it a combination of the plot loan and construction loan. Here the cost of both …

Sanction letter

A Loan Sanction letter is issued by a Bank or a Non-banking financial institution to a borrower or applicant who has applied for a loan. This letter validates that the applicant is eligible to avail of a certain amount of loan from its lender bank or the financial institution subject to them complying to some …

Home Loan Repayment With Higher EMI

Repaying your loan’s EMIs promptly reflects positively on your creditworthiness. You can talk with your bank or the financial institution, and schedule the EMI payment dates when you would be most comfortable and have sufficient funds in your account. Usually, the lenders fix the date closer to the date of receiving the salary. This helps …

Home Loan - Things to be Aware of When Prepaying

Home loan is a financial solution acquired from a lender by handing over your property as collateral. In India the borrowing option entitles us to purchase a flat, plot, or property by pledging it. Home loan can also be taken to make major renovations, repair, or constructing a house. These are high-value finance at low …

Margin Money in Home Loan

A certain sum of amount which the borrower deposits initially, to either the bank or a non-banking finance company from whom they are trying to obtain a home loan is called as the Margin money. Lenders treat the contribution of The margin money for a home loan from a borrower is accepted as a sign …

Buy a house

Let us begin with this basic question – Are you ready to buy a house? Then ask yourself another question – What can I afford? Though answering that may not be so easy, let us see how to really analyse what “affordability” means. You’re Debt-To-Income Ratio The most obvious decision involves money. If you have …

Home Loan Sanction Letter Mudrahome

When applying for home loan, your lender – the Bank or NBFCs will need you to provide proof related to your identification, financials and property. Since home loans are usually of a substantial amount and usually longer tenure, it is important that everything is in order for both you and your lender. Before the final …

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