Home Loan
A housing loan/home loan is usually taken for purchase, construction, or renovation of a property. The property remains with the lender as security for the duration of the loan. Interest rates on home loans are fixed or floating. UNITED FINANCIAL SERVICES is a home loan professional who offers you the best home loan rates in Mumbai at low home loan interest rates, fast home loan approval. We are a home loan UNITED FINANCIAL SERVICES in Mumbai for affordable housing loans in Mumbai & Than
You can take out a home loan for reasons like:
Buy a House
The most common type of loan to buy house is a mortgage property until you repay the loan.
House construction
If you have land and you need money to build a house on it, then you can choose a house construction loan.
Expansion of the house
If you already have a home, and want to expand it, you can choose this option.
Home renovation
Home renovation loan is best suited for improving and upgrading existing homes
for a better life.
Land purchase
Loan to purchase land is designed to facilitate the purchase of land/plots.
Balance transfer
Home Loan Balance Transfer lets you transfer your high interest rate loan to a
low interest rate bank or financial institution to reduce your EMI burden.
Steps To Get Home Loan
• Fill out and submit a home loan application.
• Submit the required documents for further processing.
• Pay the home loan processing fee.
• Your home loan application and documents will be examined and verified.
• Your home loan application will be sent for approval or approval.
• Your lender will visit the property you want to purchase for legal
inspection.
• After approval, your home loan amount will be disbursed by check.
How To Loan Eligibility Criteria
The basic home loan eligibility criteria are as follows:
Age
• Salary Person - 21 years to 58 years
• Self-employed persons - 25 years to 65 years
Employment
• Salary Person - At least 2 to 3 years proof of working in a private or
public limited company
• Self-employed person - Proof of having at least 3 years in the current
business
Income
• Salary Person - Minimum Rs. 20,000 per month
• Self-employed persons - Minimum Rs. 250,000 per year
Credit score
• Generally, a credit score of 750 is considered a good score for home
loan approval
Other eligibility criteria
• Must have resided in the city of residence for at least 3 years.
• NRIs can be made only through normal banking channels or by
sending NRIs from abroad through this account.
• If you are a salaried professional, your monthly EMI can be
considered against a loan of about 40% of your monthly gross
income.
• Make sure your credit history is not bad before applying for a home
loan.
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