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
How Home Loan Eligibility is Fixed ?
One of the key concern of a Home Loan Borrower is Home Loan Eligibility. In one of my previous post on 6 Steps of Home Loan Process i highlighted 6 critical factors which impact Home Loan Eligibility. Many readers requested me to write a seperate post on Home Loan Eligibility. Let me admit that there is no scientific method to fix Home Loan Eligibility. If an Individual A apply for a Home Loan with 3 different banks, All 3 banks will fix different Home Loan Eligibility. The deviation is normally 5%-10% from mean. Private Banks and HFC's are more liberal whereas PSU banks are strict. Home Loan ... Read More