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While you start thinking of buying a house, the very first thing that comes to your mind is about funds. Very rare does it happen that people buy home with 100% payment on their own. Here is where the know-how for home loan arises, so let us today take you through the basics of the same. The eligibility conditions of home loan in India does not fluctuate much but keeps on changing from year to year and lender to lender.
Who is eligible and what makes you qualified?
Loan approvals depend on the income of borrowers, their credit profiles and relationship with the banks or lending institutions. Below is a quick walkthrough of the eligibility conditions for home loans:
Documents required for home loan application
More or less the documents remain the same. What varies is the importance of the records as per the lending institutions or banks. Here is a list of few common documents:
Have few clicks on EMI Calculator and you can calculate your eligible loan amount, EMI etc.
As far as flexibility is concerned, the scope of borrowing a home loan has widened over the years. This has made it possible for more and more people to own a home. Furthermore, with customer service touching new levels of excellence, every bank and lending institution has well developed and interconnected help desk and customer service desk to serve you at any time of the loan process, after and before too.
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