Skip to main content

This Home Loan Approval is Confusing and Taking Time

For some people these entire bundles or heap of document seems like a maze and is totally confusing to maintain all this. Many housing finance companies and banks request borrowers to make a special file of all these documents to keep record of all the documents and papers required during the process of application and approval of your home loan. Since all this takes time it would be advisable to make a water proof file and keep your entire documents in place.
Select a big file and most times the bank will guide you about the size and quality of file required. It would be better to invest in a good quality file as remember all your important documents will go in here along with the original document of your home ownership after your home loan is approved. It is known that all lending companies would keep the original house document of ownership with them for the loan repayment period as this acts as a security for them for offering you the home loan amount for such a  long period.
One most important point here is to provide only those documents that have been mentioned in the eligibility criteria. What mostly happen that you unknowingly provide all the documents like all you other investments, other property owned and other assets to get you home loan approved quickly. But the opposite happens. When you provide certain documents the verification officer is bound to do more enquiries and you will have to go on submitting other proofs and documents for verifying your submitted documents. They are tied by rules so they have to do a thorough check. In he end you feel the officers are harassing you as this approval of loan is taking more time than the other loan applicants.
You are totally confused and lose hope from the home loan system. Hence it is best to go through the free reputed sites of reputed lenders and housing finance companies and get a true picture of what documents are required from you and use the online home loan calculators, and other calculators to get the loan amount as well as lending institutions for you with your eligibility criteria and then start with the final face to face talk regarding your home loan.
Labels:

Comments

Post a Comment

Popular posts from this blog

Get Easy Tax Concessions Bonus on Home Loans

Easy tax concessions are a added bonus with your home  loan. Purchasing a home has become the most sought   after   dream today. Our major salary can go in terms of repaying home loans. With property rates increasing day by day it is becoming more and more difficult to purchase a home even on loan. The principle amount is increasing and also the interest rate added puts a tight crunch on our monthly salary. Tax concessions and rebates come as a boon to lighten this burden a little bit. Is it possible to get tax rebate on the loan amount? Many of us are not aware that this is taxable income money and one can avail rebate on a certain amount. If all returns are filed regularly and all criteria for applying for a home a loan fulfilled then one can avail on tax rebate for a certain amount of the money taken as loan. The main criteria would be the loan has to be taken in the prior financial year and the project has to have a fixed date for completion. The possession of th...
Post a Comment
Read more

JP Morgan Chase India History of Morgan Chase India

Financial advisors claim outside the Unites States India is one of the countries where financial investment available by this reputed US bank. With the Morgan Chase bank claiming to be more than 200 years old the JP Morgan Chase. !977 the Bank has grown into a global financial giant. At JP Morgan chase finding a right refinancing option and also pay back loans, yes being a Chase customer you get money back on your mortgage. For new residential first mortgage or refinancing of previous loan customer get this benefit of 1% cash back programme and is only eligible for them. In India JP Morgan chase has a very large network and is expanding in size as of globally also. Morgan chase has its root back from 1922 in India. This began when JP Morgan Company in New York and Morgan Grenfell affiliated partnership in London, showed partnership interest in Calcutta Merchant banking Firm of Andrew Yule and Company Ltd. ICICI was founded in  1955 with JP Morgan Chase as one of the founding share ...
Post a Comment
Read more

Home Loan Lenders Selling Tips Biggest Hurdle in getting Borrowers for UK Home Loans

Home loan lenders selling tips Biggest hurdle in getting borrowers for UK home loans as the market is flooded with houses and houses everywhere, people are not so keen on taking home loans   paying off in dollars.   People are hesitating to buy new homes and with few exceptions where money does not matter anyway the elite investors in property purchase flats for investment purposes, and need to divert their finance and what better way than in housing sector as this field has assured and guaranteed returns. Majority of people applying for home loans in UK are from the private sector and they may not have all the documents in place which leads them to search for those lenders who can offer them loans.   It would be better if the lenders would simplify their loan procedures and also ease out the formalities to minimum. As it is every one understands the fact that you will get a loan only when you are eligible for that, which means you have the repayment capacity. Still...
Post a Comment
Read more