A Home Loan is a loan taken to buy a plot of land or property and construct a house on it or to buy an already constructed house or apartment or to renovate your home or to construct something new as an extension on existing house.
Who is Eligible for a Home Loan?
You are eligible for Home loan if you are
• Salaried individuals.
• Self-employed professionals.
• Self-employed non-professionals or businessmen.
• Local Vendors.
What will be the maximum amount and the rate of interest of home loan you can avail?
With us, you can apply for a loan starting at Rs 2,00,000. The maximum amount you can apply for is Rs 100,000,000 by mortgaging your home as collateral.
• We can assist you to get the best rate of interest that is suited for your loan and does not dip into your monthly cash flow. The business loan interest rates starts from 8.30%, depending on your requirement and factors such as your credit score, standing in the business or profession, turnover, business stability, income and other loans if any.
How much EMI do you have to pay?
The EMI that you pay depends upon major of three factors the principal loan amount, the interest rate charged and the period for which the loan is taken and all these three factors depends upon your credit score, standing in the business or profession, turnover, business stability, income and other loans if any.
Home Loan Balance Transfer and Top-upy?
A Home Loan balance transfer facility can be avail by the customers who already have a running home loan with another financial institution and when they avail that loan at that point of time may be the interest rate is higher and now the rate gets lower and that customer want to take the benefit of lower interest rate. Lower interest rates help you to reduce your existing EMI.
Balance transfer of Home Loan not only reduces the existing EMI but also helps the customer to take below mentioned benefits
• Enhancement in your home loan from the original loan amount with your present lender as per your eligibility.
• The additional amount will be directly credited in your bank account which you can use for further renovation and extension.
• Longer tenure up to 30 years.
• Transparent terms and conditions without any hidden charges.
• Minimal formalities and paper work in the transfer process.
• Special benefits and offers depends upon the ticket size and customer profile.
Government Scheme - Pradhan Mantri Awas Yojana 2017
We at Finheal.com are enthused by the government's initiatives to encourage lower income borrowers to get home loan and own their dream home. The government has notified that borrowers whose income is less than Rs 6,00,000 per year would be given home loans at a concessional rate of 4% under the Pradhan Mantri Awas Yojana 2017. We help people from this segment to get their dream home and take benefits under this government scheme from Banks and NBFCs.
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