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Budgeted flats is a property consultant/agent helps you in buying property in Pune; guides you from home loan until you get the keys of your dream home.<br>
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Once you finalized ideal property, next step is to look for the financial support. Banks in India are the reliable sources of money lending, it easies the financial burden to a major extent. Let’s discuss about the home loan application procedure which makes your task easy to some extent. • Obtaining an Application Form: The home loan application form for most of the banks is more or less similar. A basic home loan application form consists of the following sections: • Personal and Employment Details • Financial details • Bank account details • List of documents required for home loan application include • Fees for Home Loan Processing: Every bank charges a non-refundable processing fee which is generally 0.25-0.50% of the total amount. This fee is paid to the bank towards formality completion and loan maintenance.
Face-to-Face Discussions: After submitting the application form, the bank then calls for an in-person discussion. The documents submitted will also be evaluated along with loan application. • Applicant's Credentials: Banks then send their representatives to the applicant's workplace to get the submitted documents validated. Banks taken into account the following most important factors while evaluating: Banking History, Employment History, Income, Age and Job stability. Based on this banks analyse the repayment capacity of the applicant. • Loan Sanctioning: If the records are found to be satisfactory then the bank sanctions the specified loan amount to the applicant. A loan sanction letter will be sent to the applicant in this regard which will include details like the loan amount, rate of interest, tenure of the loan, mode of repayment, general terms and conditions. • Submission of Legal Property Documents: Once the loan has been sanctioned all legal documents pertaining to the property like the Letter of Allotment, NOC has to be submitted to the bank for verification. Bank will validate the property documents submitted for the purpose of authentication.
Site Verification: Representatives from the bank personally visit the property to make sure that the property meets all legal guidelines laid down by the bank. Document Registration: After the bank has personally validated the property, clearing the drafted documents from the lawyer is essential. Only after the clearance will the registration and stamping procedures be completed. Agreement Signing and ChequeIssuance: With documents thoroughly verified and registered, a final agreement will be signed between the bank and the applicant. Then post-dated cheques will be issued to the bank by the applicant in repayment of the bank loan. Loan Amount Disbursal: Only upon the completion of the above procedures will the actual loan amount be dispatched to the applicant. Moreover the bank makes sure that there is 'Zero Risk' in financing the applicant. Loan amounts will be disbursed in instalments in case of under construction properties and in full for ready-to-move-in properties.
Budgeted flats helps you in applying loan for new house taking into consideration all above discussed points. For more information contact: Budgeted Flats Address :- Office 102 D & E, 2nd Floor, A- 3 Building, E-Space IT Park, Samrat Ashok Rd, Aga Nagar, Vadgoan Sheri, Pune, Maharashtra-411014 Mobile No. :- .+91 77559 33370 /7755955522 Email :- sales@budgetedflats.com Website :- www.budgetedflats.com
