Real Estate Forum on Home Loan In India

Latest Answer: Definitely having a loan is good to build up your credit history. Make sure you that all the repayments are done on timely basis and there shouldnt be a single default. You can also build your credit history by applying for a credit card as it's considered as a revolving credit. You can use the credit limit upto 30% and make payments on a regular basis. To know how you can built your credit fast visit http://www.yourcreditscorebook.com/blog/build-your-credit-score-fast/

Latest Answer: Hi, Before finalising on your home loan, pl check on processing fees, documentation charges and legal / technical costs.

Latest Answer: Hello, there is a big misconception that home loans are available not only for the purchase of a house . you can use loans to Buy land and construct house Renovate an existing property. but the percentages of interest and terms and conditions varies from bank to bank.

Latest Answer: Sandeshji, in which bank aer you trying to get loan? recently there was news that Oriental Bank and HDFC have slightly reduced interest rate on home loans by 0.1 percent. Better you enquire in the banks directly.

Latest Answer: Hi Kalki, As far as I know, I do not think you are eligible for home loan but for further information about home loan you can contact to your nearest bank.

Latest Answer: Before applying for a home loan, you will have to submit all the necessary documents and fill out all the required forms to the bank that is offering you the loan. The general rule is that government banks have some stringent eligibility criteria such as minimum monthly salary, and also your present property info that you possess. Private banks are known to waive off these criteria although, there are some banks who follow. You may have to pay the loan processing fee which is usually 0.5 to 1% of the total loan amount. This charge is for verifying all the documents, estimating the value of your present properties and other personal information of yours.Probably the most important stuff to consider while applying for a home loan is the interest rates and the Tenure. If you choose Floating rate, you will have to pay the EMI based on the current market value. So, if the rates are high, you end up paying more than the usual amount. Here, the loan tenure will also increase proportionately.