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Showing posts from July, 2018

Benefits of Tranfering Home Loan | MyLoanCare | Housing Loan

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Home loans are quite in demand because they allow you to become the owner of your dream home. Borrowers of the home loan have a facility of transferring their home loan from one bank to another. This is called home loan balance transfer . Choosing balance transfer is beneficial for borrowers in a number of ways. Borrowers of home loan can opt for balance transfer if they find interest rates of other lenders low.

Tips To Get Quick Home Loan Approval

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Home loan provides the necessary funds required to help you invest in a home to fulfill your dream of own house. By doing some basic homework, you can easily get your home loan application approved.  Let’s discuss some simple preparatory steps you can follow for the easy approval of your home loan application:  Having a good credit score (650 and above) is considered good. Check your credit score before applying for the home loan . In case of a bad credit score, it can be improved by paying your existing loans and credits on time without fail. The amount of loan you are eligible for is directly proportional to your disposable income and inversely related to your EMIs on existing debt. So try to get rid of your existing debts. Home loan is usually allowed 75% to 90% of the property’s value.  The rest is to be paid as down payment. So keep your down payment ready for the quick approval of your application. Prepare the list of the documents required and keep them rea