Home Loan mistakes may cost very heavily on your pocket. I call common mistakes during Home Loan process as a Home Loan mistakes. Home Loan is a long term commitment and many borrowers take it casually. I personally feel that whatever impacts you financially should be taken seriously. In past, i have written similar posts like 8 Ques You Should Ask Home Loan Provider. This post is different and related to the behavioral aspect of a Borrower which is equally important. Unfortunately, Home Loan mistakes cannot be corrected in most of the cases. The reason being, there is a time pressure on a ... Read More
8 Ques You Should Ask Home Loan Provider
Home Loan Provider in India is normally finalized based on the reference or word of mouth. There is no harm in taking references or feedback from friends and family members. It helps in better decision-making. In most of the cases, it is the builder who decides Home Loan Provider of a buyer. He has vested interest in this entire process as builder receive cut or commission to promote particular Home Loan Provider. Secondly, he doesn't want you to initiate Title Search or Legal Check Process again. Some of the common tactics of the builder to pressurize buyer are Documentation, Payment ... Read More
Why you should not apply Online Home Loan
Online Home Loan is very fast catching the fancy of many. The key reasons for increase in uptake of Online Home Loan service is convenience and intelligent online marketing. Remember that Convenience comes at a Cost, lets check how. In the month of July'14, i log in to internet banking of ICICI Bank. Welcome screen of internet banking offered me Pre Qualified Home Loan of 90 Lakhs. I decided to give it a try to check Online Home Loan service/process. Here i would like to add that Online Home Loan application software of most the banks is managed & powered by Bank Bazaar which is basically ... Read More
Five Steps to Close Home Loan of a Seller
How to close home loan of a seller is one of the prime concern of any buyer. One of my client Ms. Jyoti Suneja finalized a property in Gurgaon. She was worried because seller had home loan from Bank A. In my opinion, buying a mortgaged property is safest bet. To close Home Loan of a seller is not that difficult task as it is perceived by the buyers. 70% of the property transactions in India are through Home Loan. In 40% of the cases buyer has to close Home Loan of a seller. In my previous post on Home Loan Process, we discussed buyer's Home Loan process. In this post, i will share Five simple ... Read More
6 Steps of Home Loan Process
Home Loan Process is not that difficult as it is perceived. There is a famous proverb that “Well begun is half done”. The same goes for Home Loan Process. Most of the potential borrowers stuck on how to initiate Home Loan Process. You can apply for Home Loan with or without finalizing the Property. To kick start Home Loan Process, follow these simple steps Step 1: Self Assessment Before starting Home Loan Process, visit the website of a Bank / HFC (Housing Finance Company) for the list of documents required. You may collect list of documents from Branch. For simplicity purpose, i will refer ... Read More
How to Buy House with Home Loan
To Buy House with Home Loan is quite tedious & exhaustive process. Buying a house itself is a major financial decision. Some people delay this decision as they would like to buy their first property from own funding. Best bet is to buy house with home loan. Reason being property prices keep increasing and secondly, during the later part of life financial commitments will increase. When i bought a house, i struggled to understand steps to buy house with home loan. After going through this cycle, now i am in a position to explain step by step process how to buy house with home loan. Step 1: ... Read More