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Compare Top Home Loan Providers in India
Buying a home is one of the most important stepping stone of success in our life. It is important decision which need proper research as where we want to buy, buying is for residing for self or for investment, nearby locality, amenities available, facilities like school, hospital, railway, airport and several others. Few more factors like construction quality, builder reputation, whether registered with RERA, ready to move-in or under-construction and more.
Once we have shortlisted the house property, next thing is sourcing of funds. The total cost includes p- property value which is per sq ft rate or base rate + parking charges + club membership (if any) + floor Rise (if applicable) + Stamp Duty + GST and taxes + registration fee + other local charges if applicable.
Total cost can be paid by self, but looking at the property prices today most buyer need to source fund from external sources like personal borrowing, mortgages or Housing Loan from Banks / NBFCs. Home loan is one of the safest options of all as it reduce your dependency on family and friends and gets us money at most competitive pricing. Find a best home loan for yourself.
Compare Home loan rates of all major banks of India. Check 2022 Interest Rates, Processing fee ✓ Per lakh EMI ✓ ROI floating Rates ✓ Lowest fixed rates for salaried, Women and Self-employed/Professionals from Nationalised / Government Banks / Private Banks through Spoctree.
Home Loan Checklist
Selecting Loan for House also needs few researches and understanding. Borrower needs to analyse what are offerings from different lenders, who is offering best rate of interest for home loan and several other factor as below -
What is the Rate of Interest for Home loan
- Each lender has ROI which depends on several factors
- Rate starts from 8.40% onwards
- Compare different banks rate of interest, click here
How much Loan Amount are you eligible for
- Bank will not cover total cost for property purchase in full. Maximum 90% of cost is covered
- Few lenders doesn’t include GST and few other expense in cost of property for Loan amount calculation. Know more about Loan Eligibility.
What will be the Processing fee, Pre-payment, Foreclosure and other charges
- Lender charges processing fee to process loan application
- There are several other fees and charges as well
- Evaluate the charges included in housing loan process
Documents check list
- Home Loan processing needs proper verification
- Most verification are done basis the supporting documents
- Documents like KYC, Financials, work profile and other, click here
Loan Approval and Disbursement TAT
- Loan disbursement doesn’t happen immediate
- Processing of application, documents verification, legal and technical and others takes time
- Loan disbursement can take from 4 days to month depending on pendency
EMI and amortization schedule
- Loan taken is repaid by making EMI payments on monthly basis
- EMI = Principal + Interest / loan tenure
- Monthly bifurcation / amortization chart can be calculated here
