Among mankind’s primal needs is the need to belong. Homes have provided that sense of belonging since time immemorial, making them subjects of many a famous creative endeavour around the world. Even young children prefer to draw homes as their very first pieces of art!
But despite that cosy scenario, buying a home is often not a simple task. While affordable housing may be a gamechanger for the Indian homebuyer, property buying remains an expensive proposition. Having said that, homes are assets that last a lifetime and make a good investment option too. And these investments are most often funded through a home loan.
Before applying for one, it’s important to determine which one specifically suits your situation best. Among the parameters to consider, interest rates, loan tenure, loan to value ratio, and processing fee are just a few.
Further, applying for a home loan requires a specific procedure to be followed. To begin with, the lender will require original property documents, which you will need to procure from the seller. Once you fill out the application at the bank, an assessment will be carried to ascertain your ability to repay, the eligible amount as well as your credit score. Following this, the bank carries out an independent verification and valuation of the property. Once all criteria are met, the loan will be sanctioned and disbursed.
At RoofandFloor, designing a satisfactory home buying experience for you is at the core of everything we do. We strongly feel that the better informed and prepared you are, the more seamless and trouble-free your journey of buying a home will be.
This book has one single focus. To equip you the most important information about home loans. As you go through this eBook, you will
- Understand the basics of home loan
- The eligibility criteria and documentation
- How to determine the right lender
- How to save money while taking a home loan, and much more.
So, go ahead and get yourself a lifetime of mental peace.
