Buying a home someday is a dream most of us cherish. We, in fact, save money for years to fulfil one of the most cherished goals of the life: to buy a home. We after all understand the huge significance and value of a home. We know life’s true essences are only realized when we own a home. We know the edifice of a peaceful and prosperous life is laid here itself.
We need a home to dream more dreams. But, at the same time, we understand that it’s not that simple to buy a home. We know prices have skyrocketed and our years of savings are not sufficient for that. Thanks god there is home loan, else we would never have even thought of buying a home, let alone actually planning for it! Without the support of banks and lending institutions, most of us would never be able to own a home.
So, we can plan a home loan, set our own budget, decide on a flexible repayment plan and negotiate easy terms. We can choose from a variety of home loan options based on their interest rates and other buyers-friendly features. We can avail home loans based on our existing financial capability or worth and repay it over a period of time.
So, the time has come to take that giant step forward the avail the best home loan to fulfil your goals. To select the best available home loan in the market, do visit MyLoanBazar.com and compare products from different banks and institutions. Be it your budget, your monthly repaying ability, loan term, interest rates etc., get total information of different home loans and select the best one for yourself.
Home Loan → Compare
What would you do to find the best home loan? Chances are, you would visit websites of few banks, read about their products and take the call. Would that be enough? Of course, not. After all, there are a number of banks offering different kinds of home loan plans. Without knowing them, or most of them, you would never be able to know what the best home loan is.
What next then? Worry not, visit MyLoanBazar.com and get a thorough and complete understanding of the loan market. Find home loans from different banks and institutions and compare them. Compare home loan interest, loan amount, repayment duration, processing fees and much more. The portal gives you a wonderful chance to search, find and select the best available home loan according to your actual requirements and budgetary worth.
The best part is, here you will become aware about every aspect of the loan to make an informed decision. So, don’t delay your decision and visit us to fulfil your requirements in the best possible manner.
Home Loan →Interest Rate
How to get the best home loan? Simple, compare all the home loans available in the market and evaluate their interest rates. That’s why you should visit MyLoanBazar.com and find a loan that suits your requirements.
As interest rates vary for different banks, you should assess all the products in the market to get the one that suits your budget and repayment capacity. By comparing and evaluating the interest rates offered by different banks, you can surely make a better decision.
Based on your interest rates knowledge, you can also calculate your EMI. More so, it’s the interest rates which decide your total amount and tenure of payment. As a result, you should be careful about interest rates as it will have a huge bearing on your home loan and its total cost to you.
More so, you will have two types of interest rates to select from:
Fixed interest rates
Floating interest rates
Fixed interest rates will remain constant right through the repayment duration while the floating interest rates will depend upon the existing market scenario and governmental policy.
At MyLoanBazar.com , you get interest rates listed from all banks and lending institutions together with their corresponding interest rates. So, analyze them and take informed decision!
Home Loan - Eligibility Criteria
Home loans are available to a variety of individuals. One should however meet some eligibility norms to avail from the available loans in the market. The most important criteria of course includes the financial repayment capacity of the individual. So, factors like income, type of employment, age etc. can be taken into consideration by banks while giving loans to individuals.
Most importantly, eligibility criteria tend to vary from banks to banks, and you would be better served in knowing the rules of different institutions. After all, their purpose is to provide home or housing loans to as many people as they could possibly do.
So, what would you know to be aware of home loan eligibility criteria set by different banks? Simple, just visit MyLoanBazar.com and find eligibility criteria from different banks and financial institutes.
Some of basic eligibility criteria for home loan include:
Any individual, be self-employed or salaried or professional, can apply for a home loan.
Any individual filing income tax returns or producing professional stability document can apply for a home loan.
Home Loan- EMI
How to know whether you can afford a home loan or not? Or, would not it be good if you knew how much a home loan cost you every month? This is where EMI (Equated Monthly Installment) calculation helps a lot. An EMI is basically the sum you have to repay each month against the home loan availed.
It means, you can plan better once you know how much to set aside for the loan. Similarly, this way you can find a loan that fits perfectly into your monthly income and expenditure schedules. At MyLoanBazar.com , we understand your requirements and our EMI calculator comes a big help to you.
Using our EMI calculator, not only will you know the amount you need to pay every month but also the amount you can afford. Once you are aware of the monthly overhead, you can enjoy a great deal of flexibility with the loan.
So, just fill in few basic details and your EMI will be calculated in quick time. The best part, you can view EMI offered by different banks and institutions to make a well thought-through decision. You can know which home loan is affordable and which is not.
So, come and visit us, know your loan amount, evaluate EMIs from some of the best banks in the market, compare them and find the best home loan. You can find the lowest possible EMIs and highest possible loan amount.
Home Loan - Documents
Home loans are easy to get these days. All you need to do is to have some documents. Banks and lending institutes require proof of your identity, address and income to provide you with the loan. These are some of basic documents you need to submit to the banks to avail the loan.
Documents requirements may wary from banks to banks but more or less, they all need all those documents that testify you and strengthen your credentials. It would be better if you knew the documents required by different banks for home loans. That way, you can plan better and get the loan sanctioned in quick time.
At MyLoanBazar.com , we have put together a list of all documents required by different banks for availing home loans. Go through the list and get your home loan in an easy and hassle-free way. You can also compare document requirements of different banks and choose the one where the paperwork and documentations is the minimum.
Home Loan - Process
Home loans are a ubiquitous commodity today with a growing number of people opting it to realize their dreams of owning of their home. Not all of us however are aware of the processes or procedures involved with home loans, which sometimes create a lot of problems. Without knowing the home loan process, it would not be possible to understand your loan completely.
In general, home loan is a 7-step process:
• In the first step, you need to apply to a bank with a formal application together with submitting identity, income and address proof details.
• In the second step, you need to pay a loan processing fee (which can be anything between 0.25 to 0.50% of the total loan amount) to the bank for commencing the process.
• In the third step, the bank with verify all the facts and information submitted by you.
• The fourth step is the most crucial one where the bank will evaluate your repayment capacity against the home loan amount requested, or to be issued.
• The fifth stage is one where the bank will draft an offer letter with all the details including sanctioned amount, interest rates, monthly repayment amount and loan terms etc.
• The sixth stage will involve property verification where you need to submit to the bank all the documents asked by the banks.
• The seventh and the last stage will involve home loan disbursal, provided all other formalities are met.