Before buying any house you have to
consider and think over many factors. How
the home should be? The actual area and size will depend on the size
of your family as well as your own personal requirements. If you are
looking at capital appreciation, you should consider making the purchase
in the suburbs, where the price appreciation will be higher than in
the case of prime property. In the case of buying a flat, you have
to check out the building, whether parking is available, security,
etc.. Mainly you have to make
ready of the money.
However, there are ways by which you can enhance your eligibility.
If your spouse is earning, put him/her as a co-applicant. The additional income shall be included to enhance your loan amount. Incidentally, if there are any co-owners they must necessarily be co-applicants.
Even your fiancee's income
can also be considered for sanctioning the loan on your combined income.
The disbursement of the loan, however, will be done only after you submit
proof of your marriage. Providing additional security like bonds, fixed
deposits and LIC policies may also help to enhance eligibility.
Also, when the company looks at the total cost, registration charges, transfer charges and stamp duty costs are included.
For sanctioning of the amount you have to produce the following documents:
Disbursement of Loans:
The repayment tenure for home loan is maximum loan tenure of 30 years. The repayment starts from the month following the month after full disbursement has been made. If you want to apply for an Adjustable Rate home loan, this method will enable you to calculate your Equated Monthly Installment (EMI ) by which if you know the value of the property, the loan amount your require and the term for which you want to take the loan. It will compute the rate of interest that is applicable.