What Is Home Loan ?
A home loan is a secured loan used to purchase a property, whether it’s a developer’s under-construction or ready-for-possession property or a resale property from a person or company. You can also use a home loan for property extension or refurbishment.
This is the traditional mortgage where customer has an option of selecting fixed or variable rate of interest and is provided for the purchase of property.
Loans are provided by the lender which is a financial institution such as a bank or a mortgage company. There are two types of loan widely offered to customers:
Fixed interest rate loan: It is the type of loan where interest rate remains constant for the life of the loan.
Fluctuating/Variable interest rate loan: It is the type of loan where the interest rate is fixed for the period but then it fluctuates with the market interest rates.
Searching for a Home Loan?
- Your home is likely to be the most exciting and expensive purchase you make in your lifetime.
- You find the Home Loan in India that best suits your Financial Situation.
- Massive Application Fees
- High Interest Rates
- Hidden charges and processing fees.
At Kautuke Financial Services, we understand that you must have a Home Loan that meets these requirements, so we do all the legwork for you. We research the different mortgages available and choose those that suit your financial and lifestyle requirements.
Home loan eligibility criteria
To enjoy hassle-free loan processing, potential borrowers must meet specific home loan eligibility conditions before applying for a house loan.Age, income, employment position and stability, and property value are among the conditions established.Credit is available to both self-employed and salaried individuals who meet specific home loan qualifying standards.Check your eligibility for a home loan as a salaried or self-employed individual and apply accordingly.
Home Loan Eligibility Criteria for Salaried Individuals:
Loan eligibility requirements for salaried individuals include:
- He/she must be a residing Indian citizen
- He/she must be in employment from atleast last 3years.
- He /she shall have a stable source of income.
Note that the home loan qualifying requirements are only a guideline and may include additional requirements.
Home Loan Eligibility Criteria for Self-Employed Individuals:
Loan eligibility requirements for self-employed individuals include:
- The applicant must be self-employed and have been with the current enterprise for at least 5 years.
- He/she must be a residing citizen of India
Note that the home loan qualifying requirements are only a guideline and may include additional requirements.
Get the Right Home Loans
Your main considerations when looking for a home loan can be as follows:
- Simple Process & Documentation
- Low-interest rates and fees.
- No hidden charges, no surprises
- Fast approvals, disbursed on time.
- Fits with your current financial goals.
- Longer Team.
Highest Loan Eligibility.
- Flexible: you can make extra repayments.
- No Prepayments Penalty.
How We Help You to Get a Home Loan?
- You tell us about the requirement of property as per your needs and we find a suitable solution for you from the lending products of all Bank/Financial Institutions.
- We assist/guide you for selection of the property.
- We provide you with information of a number of Financial Institutions so that you can analyze the company norms and rules.
- We provide services to meet customer satisfaction.
- We help in financial planning to free you from your financial problems.
- We provide services at your doorstep.
- The necessary information required is given in a simple language which will help you in taking the right decision.
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How can we help? *
How we help you to Refinance/Balance Transfer.
- Balance Transferring can be done with various Financial Institutions.
- No prepayment penalty
- Disbursement in very short period.
- Provide all the information about Financial Institutions, to enable you to make comparison.
- Simple documentation and speedy processing.
- Helping you in transferring your loan to a lower interest rate and fees.
- Helping you to Top-Up loan over the existing Loan.
Balance Transfer You Existing Home Loan
Do you know?
A 1.0% reduction in the interest rate can save you about Rs. 1.5 Lakh on a loan of 10 lakhs over a 20 year period. The exact figure will depend on the rate on the existing loan, balance tenure etc.
