Home Loans offers                

Your Home is a place where you relax after coming back from your day’s tiring work, it is that place where you can give time to your family & spend beautiful moments with them. To acquire a home which can be christened your “Own House” is a life-time decision & has to be taken with a lot of planning & requires huge finances. Your Dream Home is not very far away with a Home Loan which will fulfill your Dream into a reality. We at http://99propertyz.com/ are working constantly to get you the BEST Loan Deal & have brought a small guide which would answer some important questions related to Home Loan & help you decide your loan deal.

What is a Home loan?

Home Loan is a Secured Loan offered against the security of a house/property which is funded by the bank’s loan, the property could be a personal property or a commercial one. The Home Loan is a loan taken by a borrower from the bank issued against the property/security intended to be bought on the part by the borrower giving the banker a conditional ownership over the property i.e. if the borrower is failed to pay back the loan, the banker can retrieve the lent money by selling the property. Get more Information on home loan section click Articles about Home Loan and Home Loan must read.

Most borrowed home loans

SBI Home Loan: Before borrowing any loan borrower compare interest rates. Generally people prefer to take SBI Home Loan because SBI (State bank of India) is main centralized and national bank. SBI provides loan at comparatively low interest rate.

HDFC Bank Home Loan: HDFC stands for Housing Development Finance Corporation. This unit is for housing development. HDFC provides loan and low interest rate. And you are facilitated with ease repayment option. HDFC gives you an option of easy EMI. Because of flexible feature and transparent policy, most people prefer HDFC home Loan for their requirement.

ICICI Bank Home Loan: ICICI Bank offers a wide range of Home Loan products, designed to meet the requirements of customer. : ICICI Bank offers Doorstep service, Speedy loan sanction, Simplified documentation and Loan amounts ranging from Rs. 2 lakh to Rs. 3 crore Rupees only.

Types of Home Loan

There are different types of home loans available in the market to cater borrower’s different needs.

• Home Purchase Loan : This is the basic type of a home loan which has the purpose of purchasing a new house.

• Home Improvement Loan : This type of home loan is for the renovation or repair of the home which is already bought

• Home Extension Loan : This type of loan serves the purpose when the borrower wants to extend or expand an existing home, like adding an extra room etc.

• Home Conversion Loan : It is that loan wherein the borrower has already taken a home loan to finance his current home, but now wants to move to another home. The Conversion Home Loan helps the borrower to transfer the existing loan to the new home which requires extra funds, so the new loan pays the previous loan & fulfills the money required for new home.
• Bridge Loan : This type of loan helps finance the new home of the borrower when he wants to sell the existing home, this is normally a short term loan to the borrower & helps during the interim period when he wants to sell the old home & want to buy a new one, It is given till the time a buyer is found for the old home.

• Home Construction Loan : This type of loan taken when the borrower wants to construct a new home.

• Land Purchase Loan : It is that loan which is taken to purchase a land for construction & investment purposes.
Documents required in Home Loan
Generally the documents required to processing your loan application are almost similar across all the banks; however they may differ with various banks depending upon specific requirement etc. Following documents are required by financial institutions to process the loan application:
• Age Proof
• Address Proof
•Income Proof of the applicant & co-applicant
• Last 6 months bank A/C statement
• Passport size photograph of the applicant & co-applicant

In case of Salaried
• Employment certificate from the employer,
• Copies of pay slips for last few months and TDS certificate
• Latest Form 16 issued by employer Bank statements

In case of Self-employed
• Copy of audited financial statements for the last 2 years
• Copy of partnership deed if it is a partnership firm or copy of memorandum of association and articles of association if it is a company
• Profit and loss account for the last few years
• Income tax assessment order

Home Loan Process & various steps involved
There are various steps involved in getting a Home Loan from selecting your property to filling up the loan application. Following are the various stages in Home Loan:

• The first step involved in the process is to find your property which is followed by the verification of property documents, post that the documents are examined & simultaneously you can start searching for the lender who can offer the BEST Home Loan Deal after checking your eligibility criteria.

• Know the Home Loan Eligibility : Banks offer the loan amount only after checking your profile & based on various eligibility criteria’s like age, income & salary banks lend you the money.

Apply for Home Loan send  us at contact@99propertyz.com

1 First name
2 Last Name
3 Address
4 City
5 Pincode
6 Res/Mobile No
7 E-mail ID
8 Age
9 Occupation
10 Monthly Income
11 Budget
12 Property Identified

Documents Required For Home Loans

Please note these requirements are for Indian Citizens.
•Salaried Individuals
•Self-Employed/Businessmen
•If a flat is purchased from the builder
•If the property is being purchased is in Cooperative Society
•If constructing on own land
 Below are the lists of documents required for availing of home  loans for various business and property categories. Please  click on the categories

mentioned above to view the list.

   Salaried Individuals
 
 1. Salary slip/Form 16 A.
 
 2. A photocopy of the first and last pages of Ration card or     copy of PAN/Telephone/Electricity bills.
 
 3. A photocopy of Investments (FD Certificates, Shares, any     fixed asset etc. or any other documents supporting the     financial background of the    

borrower.
 
 4. A photocopy of LIC policies with the latest premium payment     receipts (if any).
 5. Photographs (as applicable).

 6. A photocopy of bank statement for the last six months.

 Self-Employed/Businessmen

  1.  A brief introduction of Business/Profession.

  2.  Balance Sheet, Profit and Loss account and statement of income with Income Tax retus for the last 3 years certified by a CA.

  3. A photocopy of Advance Tax payments (if applicable).
 
  4.A photocopy of Registration Certificate of estatblishment under shops and Establishments Act/Factories Act.
 
  5.A photocopy of Registration Certificate for deduction of Profession Tax (if applicable).

  6.Bank statements of Current and Saving accounts for the last 6 months.

  7.A photocopy of Certificate of Practice(if applicable).

  8.A photocopy of any bank loan (if applicable).

  9.A photocopy of the first and last pages of the Ration card or a copy of PAN/Telephone/Electricity Bills.

  10.A photocopy of LIC policy (if applicable).

  11.A photocopy of investments (FD Certificates, Shares, any other fixed asset).

   If a flat is purchased from the builder

   1.Original copy of your agreement with the builder.

   2.7/12 extract or property register card of the land under construction.

   3.Index II extract of your agreement with the builder.

   4.Copy of N.A. permission for the land from the collector.

   5.Search and title report (with the details of documents) for the last 30 years.

   6.Development agreement between the owner of land and the builder.

   7.Copy of order under the Urban land Ceiling Act.

   8.Copy of building plans sanctioned by the competent authority.

   9.Commencement certificate granted by Corporation / Nagar Palika.

  10.Building completion certificate(if available).

  11.The latest receipts of taxes paid.

  12.Partnership deed or memorandum of association of the builders firm.

 If the property is being purchased is in a Cooperative Society

  1.Original share certificate of the Society.

  2.Allotment letter from the society in your name.

  3.Copy of the lease deed, if executed .

  4.Certificate of the registration of the society.

  5.Copy of the byelaws of the society.

  6.No objection certificate from the society.

  7.7/12 extract or property register card in the society's name.

  8.Copy of N.A permission for the land from the collector.

  9.Search and title report(with the details of documents) for the last 30 years.

 10.Copy of order under the Urban Land ceiling Act.

 11.Copy of the building plans sanctioned by the competent authority.

 12.Commencement certificate granted by Corporation / Nagar Palika.

 13.The latest receipts of taxes paid.

 14.Original Agreement to assign / Deed of assignment.

If constructing on own land

  1.Original sale deed of land and extract of Index II.

  2./12 extract or property register card in your name.

  3.Copy of N.A. permission for land from the collector.

  4.Search and title report (with the details of documents) for the last 30 years.

  5.Copy of order under Urban Land Ceiling Act.

  6.Copy of the building plans sanctioned by the competent authority.

  7.Building permission granted by Corporation / Nagar Palika.

  8.The latest receipts of taxes paid.

  9.Estimate of cost of construction certified by the architect.

USE FULL LINKS FOR HOME LOAN

ICICI HOME LOAN

Website:http://www.icicibank.com

STATE BANK OF INDIA

Website:http://www.statebankofindia.com/

HDFC Housing Loan, India

Website: http://www.hdfc.com

Andhra Bank Home Loans, Andhra Bank Online

http://www.andhrabank.in/english/AbHousingLoansNpSector.aspx