Getting your dream home can put you in years of search, visiting different properties and short listing the sites you like the most to finalize a perfect house. After deciding a perfect house for you, next step is to arrange the funds to purchase a property. To do so, one needs to “Apply For Home Loan“ as buying a home is the biggest investment of their life.

Nowadays, real estate prices are soaring high; therefore home loans are the best option for majority of individuals to own their dream house. One can easily secure a home loan as they are secured loans and convenient to repay. In this blog post, we have mentioned some useful tips that can get you into your house quickly:

Achieve a good credit score: CIBIL is the most important criteria that lenders ask for. Most of the lending institutions do not accept the loan application with low credit score. To ensure a loan approval, one must work towards achieving a credit score above 700 before applying for home loan. Moreover, a good credit score makes you an attractive borrower to lender and helps you to grab lower interest rates.

Check errors in credit report: While approving your loan, lender always go through your entire credit history which is generated by credit bureau. Therefore, prior to placing a home loan application, you should check the accuracy of the information contained in credit report. If you spot any mistake, try to correct those errors as it helps you get easy home loan.

Choose maximum repayment tenure: Every borrower prefers the small EMIs coupled with long repayment tenure as it makes you able to maintain your financial health in long run. Also, it decreases the risk of loan default in most of the cases. One must also check with lender if there is an option of part-payment whenever they have surplus cash flow.

Keep your documents in handy: The lack of paperwork for housing loan could be a common reason for the rejection or delayed home loan process. Thus, it is necessary to check the list of documents before you “Apply For Home Loan Online“ or offline to avoid any delay. There is a list of standard document required to get quick home loan that involves identity proof, address proof, income proof and all applicable property documents.

Try to pay high down payment: As we all know, a home loan does not cover the entire payment of purchase. A lender provides 75-80% of loan value and rest of the amount has to be paid by the borrower as down payment. More you will pay the money as down payment; less will be the debt burden on you as higher down payment results in less borrowed amount which reduces the payable interest on it.

Hence, purchasing your own home is a biggest financial transaction ever in your life, so search and compare a range of easy and convenient home loan offered at an attractive rate of interest. Visit ShubhBank to get more information about home loan process.

A home loan is a financial tool that have endues to purchase of residential plot, home or flat as well as helps to carry on the construction. It is the largest demanding loan product in the country that has great benefits such as tax relaxation and competitive interest rates etc. One can “Apply For Home Loan“ at ShubhBank as we offer customized features with digital application integrated systems.

You can compare all the lending institutions online but ShubhBank offers the lowest rates available in the market to buy a new property. We generally provide 75-80% of the property value as loan amount and customer has to pay rest of the value as down payment. Our online portal will help you to avail Home Loan at one finger click where you have to fill out a digital application form.

In this blog post, we have listed the step wise process to apply for online Home Loan application at our website.

• Click on an “Apply now” form and complete your application details and other documents. It is advisable to fill out a form in one go as will help you to take instant decision.

• Update your income details and if you have other co-applicant with you then mention his/her earning details as per the requirement.

• Check the loan eligibility criteria on our portal easily. In case, you don’t meet the criteria, we will help you to enhance the quantum with various loan calculation programs.

• Avail great offers from the ShubhBank team and complete your loan application process after choosing the lender or housing finance option with the help of our efficient team.

• Upload a scanned copy of your KYC details and income details in PDF format on our portal to complete your digital login or hard copy of requires document and complete the loan process on KYC and salary documents along with loan application form provided by ShubhBank team.

• Our digital process helps you to get loan approval within 24 hours on meeting eligibility criteria when you “Apply For Home Loan Online“. To avail this digital application, potential borrower needs to upload clear copies of KYC and other financial documents.

• You can now track your loan application status through emails or SMS service that at which step your loan processing is going through and how much time does it take to get disbursed.

• Get dedicated support from our efficient team who will update you time to time about various verification and valuation reports as well as about timely approval and disbursement.

ShubhBank assists you to secure home loan with low EMI, lowest possible rate of interest with minimal paperwork and convenient digital procedure. We aim at making home loans easy by handling entire process online from applying to disbursal. Loan seekers would be able to take a loan in only few clicks allowing them to fulfill their dream of buying own house. Hence, to take the advantage of an online application and attractive rates, visit our website today.

Nowadays, interest rates on Home Loan are at all time low, therefore having a strong credit score as well as repayment capacity, you will be able to get a home loan at lowest possible interest rates. However, there are some other significant factors also to review before you “Apply For Home Loan“ which involves your income, CIBIL score and existing debts. One also needs to look after the price of house you are about to purchase.

Home Loan is a long term commitment for everyone, so it is always good to decide on best home loan deals for you which can be repaid easily and available at competitive rates of interest. One should review all these significant factors to ensure a pleasurable borrowing experience with financially stable life.

Know your budget: It is one of the fundamental things to look upon while planning a budget to purchase a home because it is necessary to assess your financial health before making a down payment. It will help you to prevent from debt burden in the future and keep your loan journey stress-free.

Start saving early for down payment: Buying a home is every individual’s dream, so it is important to plan your finances at an early age to save a specific amount for down payment. Your down payment could range from 20-25% depending upon the loan type and the lender you chose.

Setting a specific amount for your savings every month is a great way to reserve the money for your down payment. The other option to save an ample amount of money is to go for fixed deposits.

Keep an eye on Credit Score: A credit check is really important while applying for a home loan because if you have a good CIBIL then the chances of loan approval will become much higher. Most of the lenders offer you cheaper interest rates if you have a high credit score. Hence, it is advisable to check your credit score whether you “Apply For Home Loan Online“ or offline.

Check your loan eligibility: One can check his/her loan eligibility online through various lending websites free. The eligibility criteria may vary from lender to lender but the basic things you need to check on is your age, income source, credit score and repayment capability etc. if you meet all the requirements, you can easily avail a home loan at smart interest rates.

Documentation: When you apply for a home loan, you have to obtain and submit some required documents which will decide the speed of your loan processing. If all the documents come in hand, you are going to get a fast loan disbursal in your bank account.

Compare best loan offers: Never get tempted for low or similar interest rate loans. There are number of other things that can influence your borrowing cost. To exemplify, there are some elements linked with loan amount such as processing fee, hidden charges and so on. You must consider all the aspects of the loan terms and conditions before finalizing the loan deal.

Do you believe in common perception that self-employed people never gets an easy approval on home loan? But to your surprise, lenders lend to self employed with a predefined set of terms and conditions. Every lender has some specific set of criteria which a borrower has to fulfill to get their home loan approved. Self employed individuals such as doctors, lawyers and businessmen can “Apply For Home Loan“ easily.

There are number of lenders in the market who offer customized loans according to your needs and budget. Lenders will evaluate your repayment capacity bases upon income tax returns and balance sheets of your business to approve your loan application. However, home loan is a biggest commitment so lenders feel risky to approve an application of self-employed person as he/she doesn’t have a well defines source of income.

In this blog post, we have mentioned some steps which can ensure lender to approve your home loan applications which are listed below:

Add a co-applicant to your application: If you are self employed then adding a co-borrower will strengthen up your eligibility and can help you to get an easy approval on home loan. When you add a co-borrower in your loan application, lender may get confident to lend you a desired amount as lending institution will now has a two person to repay the loan amount.

Make co-borrower a co-owner of home: If co-borrower who applied for a loan with you also be a co-owner of your home, then your chances to get loan approval increases automatically because lenders approve home loans to such applicants quickly but you need to fulfill the prescribed eligibility criteria for that.

Have a guarantor with you: When you “Apply For Home Loan Online“ or offline, try to have a guarantor to ensure your home loan application get approved by the lender as it reduces the risk factor of the specific lender about the repayment of loan quantum. A loan application signed with a guarantor will assure the lender about the repayment because if in some situation, borrower fails to repay the loan, lender will recover the outstanding amount from the guarantor.

Well, the eligibility criteria and norms may vary from lender to lender but to get risk-free, every lender will ask some basic set of documents from a self-employed individual while availing a home loan which is mentioned below:

• Identity Proof

• Bank statements of current and saving s account

• PAN card

• Educational qualification or degrees.

• Address proof.

• ITRs of last two years.

• Proof of business Entity.

• Audited financial statements of business by a chartered accountant.

Everyone dreams of having their own dream house in which he/she can live with his/her beloved ones. When a person gets stable with his/her earnings in business or has enough savings to pay a down payment for a home loan, then getting an approval for a loan against home is not a big concern for you. Hence, following the above mentioned steps, one will surely get an easy approval on home loan.

Buying your own house is one of the biggest financial goals you will ever be a part of because in our country, a loan against home can be offered up to 25-30 years. Therefore, one needs a lot of patience and determination when it comes to “Apply For Home Loan“. One of the main reasons behind the longer tenure of home loan in India is due to sky rocketing prices in real estate business.

Of course, home loan is not a cheap deal as it cost you in lacs or even in crores. This big chunk of money is not an easy task to arrange at such an early age of 25-30. Hence, most of the individuals take the help of home loan in our country to fulfill the wish of owning a home. Since, it is an affair of huge amount and at early age you are not able to accumulate such wealth, so we have listed few things to consider before making a budget for home loan.

Well, following such thing, one must be able to save enough funds for the down-payment. Let’s have a look on those tips:

Plan a Budget: It is the thing that can be easily learnt from your parents. Planning a budget will help you to understand your spending habits in a better way. Start it by writing down your monthly earning following the list of your fixed expenses like electricity bills, water bills, groceries, rent etc. In the end, you can conclude what you are left with and how much you can save from your monthly income.

Start an Investment plan: Sometimes, savings are not the only solution to your long-term financial goals. If you are working hard to earn a smart salary or profits from your business, then let your savings work hard too. Try to invest in mutual funds, equity funds or other government securities to earn a good amount from there too. As long as you give it a time frame, like 3-5 years, you can expect great returns and profits from your investment plans.

Improve your Credit Score: Always be aware of your Credit Score as it is very important to secure any loan in your future. It is necessary to pay your credit card bills and existing loan EMIs on time. When your credit score is above 750+, the lending institutions term you as a trustworthy borrower and hence will allow you to secure the home loan at lowest interest rates. Therefore, keep an eye on your credit score as any sort of discount matters, as it saves you a lot of money on interest.

At the end, we can say that purchasing a home is a big decision and needs a lot of money. Therefore, if you don’t have enough funds for the down-payment of home loan, then it’s a right time to start planning a budget, investment plan or savings. When you feel ready, just “Apply For Home Loan Online“ or offline at ShubhBank to borrow a right deal to buy your own dream house.

Owning your dream house is a big deal for any individual for which he/she has to work hard and has to seek the financial assistance from any financial assistance to make their dream come true. Most of the population in our country starts earning at their early age and their dream of having their own home starts building up soon.

As all knows buying a home surely is a biggest investment as it has many charges included in it such as down payment, property taxes, registration charges, stamp duty etc. However, in your 20’s it is not an easy job to “Apply For Home Loan“. In this article, we have mentioned some of the hurdles and ways to tackle them to get your home before you turn 30.

Age: It is the basic criteria for any loan to be of age 25 years and if you are in early 20’s and want to avail a home loan, lenders may not be interested to process your loan. To your surprise, you can add your parents as co-applicant to assure the lender about repayments or you can produce proof of employment if you are working for more than a year to get a loan.

Steady income: At such early age, some youngsters just have completed their studies and have started their employment. Either they are self-employed or salaried individuals, it becomes difficult to secure a home loan.

If you are salaried, you can provide the lender with Form 16 for 2 years or salary certificate with copy of ITR whereas self-employed can submit the challans proving the paid advance income tax, assessment orders for 3 years, business proof and audited statements from last one year. If lender asks you to wait for said time then you can save funds for the down payment of your house.

Credit score: In your 20’s, it is difficult to have a strong credit score. One needs to have a good credit history, savings, balanced credit card payments, earlier repayment history etc. to build a strong credit history. It’s too much to expect these things from someone as young as in his/her early age. One should have prior knowledge about CIBIL score before they “Apply For Home Loan Online“ or offline and start building the store from the very start of their employment.

Documents: One needs to have very specific documents in hand to avail a home loan. Before applying, you should start planning and get all the documents one by one in hand to avoid any rejection in the processing of a home loan. These documents may include your Aadhar card, PAN card, copy of approved plan for the construction of home, cost estimation from the bank’s panel, NOC of the society, other property papers etc.

Well, the requirement of documents and eligibility criteria for loan differs from lender to lender but the above mentioned list is basic one. Now when you know all about the hurdles and ways to get a home loan in early age, start planning from right now.