Skip to main content

The Formalities Just Got Tougher Home Loans Approved Does Your Bank Give Home Loan for any Locality

Home Loans Simplified Facts
Searching for a home, narrowing down to a few localities and then when the final call comes you learn your Bank does not give out home loans for certain localities!
Usually when home buying is concerned the first priority for anyone in any class is their budget. They very often have to select according to their budget and the amounts they can afford to repay in their salary and incoming money.
In middle  class as the inflation keeps rising the values of homes are getting dearer. Per square feet rates are increasing and many of them are opting for better options on outskirts of cities as they can in their budget afford larger spaces as homes in reasonable rates.
And usually whenever you go to visit a site under construction or any housing company  which has near completion projects on home constructions you get the same answer , home loans available.
What you don't know is that there are only certain specific banks that approve loans to specific construction companies.
So you may have to open a new account in the bank that approves loans for a particular selected home purchase on home loan.
And another fact is that certain banks do not approve home loans for certain areas.
Its advisable to check this out before as this will save precious time and avoid frustrations and delay in approval of your home loan!
All the Best from Rizwana!

Comments

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...

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...

Fresh New Developments in Home Buying and Home Loan Industry

There is a gradual change and slow movement observed in the home industry and home loans market. After the long silence it is a welcome change for the builders and the home loan finance industry. As we move in any direction east, west, south or north, Mumbai or the outskirts, everywhere we see constructions going on and even though here was a lull in the market since the past few years due to Government and Reserve Bank rules and regulations there is a welcomign change being seen now. As the government too has reduced the burdens loaded on the builders so also the home loan industry is offering new low price quotations and offers for the buyers and home loan borrowers.With reduced interest rates, and many warding off totally the prepayment penalty with new latest amenities offered at the same price per square foot the customers are preparing to make their move. Still necessity, an own  place to stay,  is the only decision maker and where customers are concerned. The investment...