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A Complete Buyer’s Guide To The Home Loan Process In India

Read on to know more about the home-loan procedure and your loan eligibility and repayment liabilities. https://cir.crifhighmark.com/Inquiry/B2C/B2CFFCRPortal.action

KaranKumar
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A Complete Buyer’s Guide To The Home Loan Process In India

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  1. Home Loan Process In India

  2. Processing Fees Payment of processing fees which is non-refundable. Varies between 0 - 0.50% (excluding service tax) of the loan amount.

  3. Discussion and Investigation To know more about the borrower and his repayment capabilities. Physical verification/ validation of information provided by the borrower.

  4. Credit Report Check By Bank Establishing repayment capacity of borrower based on income, age, qualification, employer and nature of business for self-employed, credit score, etc.

  5. Offer and Sanction Letter Maximum Loan Eligibility, Tenure, Rate Of Interest, Type Of Loan - floating, fixed, dual or home saver, Mode Of Repayment, Terms and Conditions.

  6. Documents and Legal Check Documents remain with banks till the complete repayment of loan (if loan is disbursed). Submission of original property documents for legal check.

  7. Property Valuation Determination of amount of loan to be financed by bank. The valuers appointed by the bank do valuation of the property.

  8. Registration of Property Agreement of Sale between the previous owner and the borrower to be stamped and registered at registrar's office. Submission of the original copy to the lender.

  9. Signing and Disbursement Agreement to be signed between the lender and the borrower. Post dated cheques to be submitted. Disbursal of loan as per the sanction letter.

  10. You can get both your personal credit score and business credit score by applying directly on the link mentioned below: https://cir.crifhighmark.com Follow CRIF India on : /CRIF INDIA

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