Home loan a product which
banks provide to the customers to buy a home by repaying the loan amount
availed in Equated Monthly Installments (EMI’s) to the bank. All the customers
are provided this product who likes to go for a property purchase depending on
their repaying capacity and Banks calculate customer’s eligibility to pay
before sanctioning any loan on the basis of his/her monthly income. But we have
seen more customers who suffered by the false promises of executives who
promised to give more loan amount above the customer eligibility.
Calculation home loan
eligibility with the help of home loan eligibility calculator always makes it
easy to the customers to process their home loan application with the bank
without any issues. These calculators calculate and provide approximate amount
of your home loan eligibility by consider your monthly earnings, liabilities
and annual variable components.
All the customers need to
have a check about their eligibility as it is the factor which decides how much
EMI that you will pay on monthly basis towards bank for the repayment period
selected. Looking at different options available in terms of repayment is
always suggested and one need to follow the below points stated to make sure
they get the loan without any hassles.
- Calculate home loan eligibility prior to applying with any bank
- Know your product and its terms and conditions
- Decide on how much loan amount you want to avail
- Never go for maximum loan eligibility
- Maker higher self-contribution towards the property purchase
- Keep an eye on fluctuating home loan interest rates
- Never take the executive words as final
All the customers are
advised to look at different options of home loan as the market was poured with
full of options and cross check the product with other banks. Banks reserves
the right to ask for additional documents and clarifications if needed in
regard of your home loan application and never try to misguide the bank with
false information. Always have a set of photocopies of documents submitted to
the bank for future reference purposes.
