If you dream of a home, you must transform the dream into a reality. A home is all that you aspire to get, once you attain a good amount of funds to secure your future and get perfect financial stability in life. What makes a home difficult is the amount of money it involves. It is a high-end investment. You need to make sure that you are able to manage a home with the help of a home loan. A home loan helps you to transform your dream into a reality. To get your hands on your new property, you must know everything about availing of a housing loan that sponsors the amount to purchase a home.
What is a home loan?
A home loan is a secured and high-value loan that helps you to buy a home. 90% of the total property price can be offered in the home loan, the rest of it is paid as a down payment by the owner. There will be a rate of interest and the repayment will be done in easy EMI monthly. An easy home loan is the best financial method of getting a good amount of funds to meet the dream of owning a home.
Documentation of home loan
● Aadhaar Card
● PAN Card
● Passport
● Birth Certificate
● Bank Passbook
● Driving License
● Voter’s ID
● Utility bills
● LIC Policy Receipt
● Form 16
● Certified letter from Employer
● Payslip of last 2 months
● Increment or Promotion letter
● IT returns of past 3 years
● NOC from Society or Builder
● A detailed estimate of the cost of construction of the house
● Registered Sale Deed
● Allotment Letter
● Stamped Agreement
● Occupancy Certificate Property Tax Receipts
● Maintenance Bills and Electricity Bills
● Receipts of the advance payments
● Registration Certificate of Establishment
● Proof of Business Address
Where to get a home loan?
A home loan is very popular and can be easy to have from any bank or non-banking financial institution. You can have a home loan from anywhere after you compare all the deals and offers. It will be easy for you to get one that is low cost. For Business Loan visit : business loan apply online.
Eligibility criteria for a home loan
● A good credit score above 750 is a key takeaway that you need to prove your creditworthiness with.
● A good income to repay the home loan within the tenure.
● The debt to income ratio should be low. You must borrow only after completion of existing debt.
● Get a good property if you need instant approval. With good property, it is easy for the loan provider to recover at the time of default.
Wrapping up
Getting easy home loans is an achievement and credit security that every home seeker needs to avail. You can avail housing loan from Clix Capital to fulfill your dream.
Must Read : How to Check Credit Score for free in India
