How to get Home Loans Easy?Home Loans are easy Now: It is difficult thing get an own house. We faces many problems from the searching of the place and saving some money for the own home. Now several banks and economical organizations are giving bank loans. We must choose commit one to get the home loan easily.
Which type of home we want:
In our market there are number of home loan schemes. In that home loan, house repair loan, women home loan Non-residence loan, step up EMI, league rental finance schemes are available.
Who take the loan:
The cooperative and corporate organizations take the home loans rarely. The personal loans mostly taken by the employees, Business mans and job experts.
How much loan we get:
The banks observe our age, qualification and the dependents of the family. It there is one or more employees in a home they get the home loan easily.
Time Limit for the House Loan:
(The main thing is time limit to give the bank loans) Time limit is important thing to the customers and banks. Generally banks are giving home loans with 20 years time limit some banks are giving with 25 to 30 years time limit for the employees they giving 60 years and to the Business man they give 65 years time limit.
Which are needed for the home loan:
Documents are important when we are applying the home loan.(The voter card and the residence of the house given by us by the conditions of KYC.) We must give the residence and voter card by the conditions of KYC. If we are employees we must give the salary slip of six months. Appointment order, form 16 and the statement of the bank.
This was based on true living life of the customer. Who are having the responsibilities of a family he must choose the 40% IMI we does not have a family he choose 60% IMI in the beginning. IMI is based on the time limit and lending money.
Fixed or Floating:
Several banks offering floating and fixed rates. We go for floating when the usurers were maximum and go to the fixed rates when the usurers were minimum. In the year 1983 banks gave the home loans with 75 percentage.At that time the customers choose the fixed rates. After that the usurers were increased and the IMI was decreased. The banks are offering special usurer rates to the villages.
Banks are studying these below things when they want to give the home loan:
After applying the loan the banks studied about particulars of the customer. They studied mainly two thing. That are paying capacity of the Borrows and the assets of the customers. They search whether the asset of the customers is in the dispute or not. If the banks are impressed by these two things the customers get the loan easily.
Insurance is need for the loan:
Every customer must have insurance to get the home loan. Now the home loan are giving group insurance. It a person died after taking the home loan the bank pay the backlogs of the customer.