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Home Loans


Home Loans - The key to your dreams come true.

Flipping through the pages of an interiors magazine is always a pleasure as for some time we are transported into a world of beautiful homes and interiors. Owning a home that you would be proud of and love to spend the rest of your life in and one which your friends and relatives cannot resist complimenting is definitely a cherished dream of each one of us.

The first and foremost thing that comes to our mind when we think of owning a home is the cost involved , the availability of funds and whether we would be able to afford it. This seems to be made easy in the present market conditions where the customer is king and all the companies are making irresistible offers to woo the prospective customer. The picture in the case of home loans seems no different with a number of banks and other financial institutions making very good offers making the worry regarding financing the house not so worrisome.

The newspapers, magazines, television and even our inbox has advertisements from various financial institutions offering home loans at very attractive rates and terms. Each one shouting at the top of their voice regarding their offer being the best -the best service at the most affordable cost. The ball is in our court now regarding the decision of which company to approach for the Home Loans. On conducting a detailed survey and weighing the pros and cons of each company well and only then deciding on the loan, the amount and the financial institution is a wise move and you would definitely stand to gain. The offer made by the various companies are more or less the same as no one person can charge a very high interest rate due to the stiff competition existing in the market. Thus, we are assured of a very good and competitive rate as customers. The terms of loan -the repayment schedule ,the collateral required or the amount of down payment may vary from company to company. Generally the followed norm seems to be that of the customer making a down payment of 10-15% of the amount of loan and the rest being paid by the bank or financial institution concerned. Some banks require the property papers to be provided as collateral security as well.

The time involved for processing of home loans has come down remarkably as compared to earlier days. Only a few working days are required for processing of the loan if all the required documents are provided properly and on time. After checking all the required details regarding the property, confirming the repayment ability of the customer and checking on his credit history the home loan is passed and the amount sanctioned which the bank or financial institution makes payment at various stages of construction or a lumpsum payment in case of a readymade flat or house.

Nowadays, Home Loans are made available not only for construction or purchase of a

readymade home but also for renovating the existing house or making some extended constructions to an already existing house. Some banks and financial firms even provide loans for buying things required to start up a house such as the furniture and other articles required. Things are a lot more simpler nowadays as compared to the situation a few years back wherein the firms would hesitate in giving loans and at the slightest pretext put a spoke in your plans. Nowadays, the companies are going all out by making very irresistible and attractive offers which makes it very easy for the client to turn his/her long cherished dreams into reality.

The procedure of applying for a Home Loans is also made very simple by doing away with a lot of unwanted paper work and formalities involved thus making the whole procedure very customer-friendly. The bank or financial institution would be glad to send a representative to your house to help you fill up the form. The only thing required to be done by you is to make all the required documents ready and the rest is looked after by them with you not even having to move out of the comfort of your home in order to avail of a home loan. Alternatively, you could also go over to the branch with the required documents and the staff would only be too glad to help you with the formalities involved.The new age of computers and internet has added to the convenience provided to the customer as it provides you the facility of sitting in the convenience and comfort of your home and filling the application form online. Thus, the whole procedure of applying for a home loan has come to be a very easy and simple task rather than the very cumbersome and time-consuming procedure it used to be. The new age banks and financial institutions are making every effort possible in that direction.

The bank or the financial institution involved ensures that you have the ability to repay the loan as per the repayment schedule agreed upon. The amount of loan sanctioned would depend on your repayment ability that is your present and expected future income and the age of the person involved on whose name the loan is taken. On being satisfied regaring all the pre-requisites the loan is sanctioned. The bank releases the amount of the loan (in case of a house under construction) at various stages of construction as agreed upon on verifying and being satisfied regarding the progress of the construction work.

Thus, the procedure of applying for a Home Loans and owning a home of your own is no longer a distant dream that is difficult to attain. The home loans offered provide the best possible resources for turning your dreams into reality. A thorough survey of the available options and a proper scrutiny of the documents and the terms and conditions offered are all that stands between you and your dream home.

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