Also Read

Full Details about Home Loan In Kannada



    What is Home Loan ? 

    Home Loan is a One of The Type of  Loan, House Loan is Loan Given by the Bank for the Purpose of House Purchase, Construction of the House, Purchasing Plot, Extinction / Renovation House Loan.

    7 Types of  Home Loan: 

    1. Pre Approved Home Loan 
    2. Home Purchase Loan
    3. Home Loan for Construction 
    4. Plot Loan
    5. Home Loan Top Up
    6. Home Extension / Renovation Loan
    7. Balance Transfer Home Loan

    Basic Terms :

    • What is Principle Amount?
    • What is Down Payment?
    • How Eligible Loan Amount
    • What is Co-applicant 
    • What is Fixed Rate of Interest Rate?
    • What is Floating Interest Rate ?
    • Equalled Monthly 
    • Installment (EMI)
    • Processing Fees
    • NOC
    • Occupancy Certificate
    • Reset Clause
    • Basic Point
    • Tripartite Agreement 
    • EC (Encumbrance Certificate 
    • Title Deed
    • Bank Approved Project 

    How Calculated Legibility 

    • Age - 21-60 Years and Self employed should be between 21-69 Years 
    • Job Stability 
    • Credit Score
    • Other Loan
    • Resident Type

    Home Loan Fees and Charges :

    • Processing Fees
    • Pre Payment Charges
    • Conversion Fees
    • Cheque Dishonour Charges
    • Fees on Account of  extensional opinion 
    • Home Insurance 
    • Incidental Charges
    • Statutory / Regulatory Charges 
    • Photocopy of Documents 
    • Change in Loan Terms
    • Application Fees
    • Technical Valuation Charges
    • Administrative Fess
    • Balance Transfer Charges
    • Legal Charges
    • Notary Fees
    • Indemnity Cost
    • Recovery Charges 

    Home Loan Tax Benefits 

    • Section 24B - Deductions for Interest Paid on Housing Loan - 200000
    • Section 80C - 15000 Principle Re-Amount
    • Deduction for Joint Home Loans
    • Stamp Duty Charges - 150000 Deductions

    Remember  Below Points while choosing Home Loan

    • Due Diligence 
    • Interest Rate Negotiation 
    • Check for Hidden Charges
    • Compare Different Lenders
    • Tenure 
    • Read Terms and Conditions 
    • Credit Score

    Reason For Home Loan Rejection : 

    • Bad or Low Credit  Score
    • Incorrect Personal Details in Credit Report
    • Rejection of  Loan by other Banks
    • Unstable Income - No consistency 
    • Age Factor
    • Location of the Property 
    • Poor Repayment of  Capabilities 

    Some Questionss / Doubt About Taking Home Loan : 

    • What is Marginal Cost of  fund Based Lending Rate (MCLR)
    • Can I get a Home Loan for entire Property Value ?
    • Who Can Co-Sign a Home Loan with me ? 
    • How many People can Co-Sign a Home Loan with me ?  
    • Can a Buy a House with 2 Loan ?
    Watch Full Video Your All doubt clear about House Loan : If you Have  Any Questions  Pls Comments  Me and Share me , If You Have Any Suggestions Pls Comments Me, Thanks for Watching.


    Post a Comment

    Previous Post Next Post