Tips To Apply For a Best Home Loan in Delhi

Delhi, India's national capital is well known for its cultural heritage. The desire for better jobs and higher education has led to an increase in migration of population from other parts of India. This had further led to an increase in demand for owned houses. But due to rising prices of property, purchasing a housing loan  in Delhi ain’t an easy thing. You can turn your dream of owning a house in Delhi into reality, as there are many lenders offering home loans at attractive prices.
Image result for home loans

Following tips will help you to get best home loan deals in Delhi: 

  • Before applying for a home loan always compare interest rates offered by different lenders. Along with interest rates compare tenure, eligibility criteria, processing fee and various other factors of different lenders. 
  • Having a good credit score is an important factor, as it can help you in getting a home loan at the lowest interest rate. Usually, a credit score of 650+ is considered good for a home loan. Use online EMI calculator which are available free of cost to know how much EMI you can afford to pay every month on the borrowed loan amount. 
  • With the help of an EMI calculator, you can calculate your monthly EMI based on different loan amount, interest rate and tenure. 

For the easy and quick approval of your loan, keep the required documents ready. Hence, you should do a detailed comparative analysis based upon aforesaid tips before applying for a home loan in Delhi.

RELATED :---Few Tips to avail a better Home Loan in Delhi

Comments

Post a Comment

Popular posts from this blog

Blog Collection

Hi All, we have got the collection of some of the amazing blogs. You can have a look 1)  http://www.theranthole.com/important-things-to-consider-before-transferring-your-home-loan/ 2) https://www.thehickeyunderworld.com/how-to-apply-for-pradhan-mantri-awas-yojana/ 3)  https://dhowd.com/top-5-lenders-for-home-loan-balance-transfer/ 4) https://gingerkids.org/how-can-home-loans-help-you-save-big-on-your-tax/ 5) http://oneeyedmonstermovie.com/rbi-keeps-repo-rate-unchanged-heres-what-it-means-for-home-loan-borrowers/
Read more

Tips To Get Quick Home Loan Approval

Image
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...
Read more

What is Pradhan Mantri Awaas Yojana Gramin (PMAYG)

The Pradhan Mantri Awas Yojana Gramin has been introduced after restructuring the Indira Awas Yojana, which was launched in 1996. This restructuring was done to achieve the government's ambition of providing 'Housing For All' by 2022. Under PMAYG , the pucca house is to be provided along with basic amenities to the beneficiaries of the scheme. These pucca houses will be disaster-resilient, along with fit as per the socio-cultural and geo-climate factors. The benefits under the scheme include; loan upto Rs. 7 lakhs, subsidy on interest for up to 3%, maximum subsidy on principal amount is Rs. 2 lakhs and the maximum subsidy that can be availed for a payable EMI is up to Rs. 38,359. However, to be eligible for the scheme, you need to satisfy any of the following criteria: Houseless family A household without any literate adult above 25 years. A household without any adult between 16 to 59 years. Various minorities plus schedule castes and scheduled tribes. Family having a...
Read more