1 / 8

Expand your Home with a Home Expansion Loan

Home additions such as kitchen expansions and additional bedrooms or even an additional floor all add square footage and value to a home. You can apply individually or jointly for Home Extension Loans. All owners of the property will have to be co-applicants. However, all co-applicants need not be co-owners. Generally co-applicants are close family members.<br><br>For more details visit: https://www.grihashakti.com/home-loan-eligibility-calculator.aspx

ankitomarind
Download Presentation

Expand your Home with a Home Expansion Loan

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. All you Need to Know About Home Expansion Loan

  2. Expand your Home with a Home Expansion Loan Home additions such as kitchen expansions and additional bedrooms or even an additional floor all add square footage and value to a home. Expansion includes alteration in the current structure of the residence to add extra space such as constructing a new room, a floor, a bigger bathroom or enclosing a balcony. All this expansion can make your house more live able and enhance the value of your home. Funding this extension can put a hole in your pocket as contractor fees, labor costs and materials and supplies comes at a price, but with a home loan to cover the expenses; home expansion becomes easy on your pocket. House improvement loans include addition of extra bedrooms, living rooms, bigger bathrooms or new flooring or some space for balcony. It is nothing but the alteration in the structure of the house.

  3. Documents Required for Home Expansion Loan

  4. 1. Identity Proof Pan Card Aadhar Card Driving License

  5. 2. Proof of Address Voter ID Ration Card Passport

  6. 3. Proof of Income Last 3 months Salary slips 6 months bank statement with salary credit

  7. Amount of loan granted Generally 70 – 85 percent of the amount required for the extension or expansion is sanctioned as loan by the banks. Your age, repayment capacity, credit worthiness, time of loan, tenure of loan, credit history etc all form a part of factors that may affect the amount of loan that gets sanctioned. The interest rates may be floating or fixed. Processing fees up to 1-2 percent may also be charged for the purpose. Mandatory Required

  8. Reference URL https://www.grihashakti.com/knowledge-centre/house-renovation/expand-your-home-with-a-home-expansion-loan.aspx https://www.grihashakti.com/home-loan-eligibility-calculator.aspx

More Related