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Calculate your borrowing eligibility
The most crucial aspect about buying any home today happens to be the home loan or housing loan factor. More than 95% of property and home buyers today avail home loans to purchase a property. It is therefore crucial to know your home loan eligibility, your CIBIL score, the eligibility of the property for a home loan, home loan interest rates from various banks, etc.
Team 99sqft.com helps you avail hassle free home loans or commercial or office loans from the top most banks and institutions with absolute transparency in terms of information. We ensure that you get the lowest home loan interest rates so that your purchase of your dream property can become a reality, easily.
We have the best home loan calculators for home buyers to calculate and compare various home loan interests from multiple banks. This helps you to choose and select the best home loan or office loan option suitable to your needs. There are many direct sales associates who work with banks to extend their services for home loans in Mumbai and other major cities in India.
We assure that all Home Loans through 99sqft.com are sourced and disbursed professionally satisfying all the needs of a home loan customer.
We also provide all help in terms home loan calculations with the help of SBI home loan interest rate calculator, HDFC home loan interest rate calculator, ICICI home loan interest rates, Axis bank home loan interest details and also of all other leading home loan institutions. Of course it always helps to be abreast about home loan rate changes and RBI guidelines on repo rates to understand the best home loan options in a given year. For example if you are taking a home loan this year you should be aware about home loan interest rates in all banks in 2019. Our team specializes in giving you up to date information about the latest updates in home loan interests and bank policies so that you can take an informed decision.
There are some important steps that you should take before availing a home loan or office (commercial space) loan:
Checking your home loan eligibility:
Your home loan eligibility is independent of the property you are planning to buy. Your home loan eligibility depends on the income you generate, whether you are a salaried person, business person, your age, your CIBIL score, your financial track records, etc. It is therefore prudent to ensure that you have a decent financial track record, no cheque bounces, no credit card payment defaults, etc. This would ensure that your when any given bank combines the amount that you earn with your financial track record, it would give you a home loan sanction letter with the highest possible loan amount as per your eligibility. All banks have a slightly different way of calculating home loan eligibility and give varying degree of importance to a salaried class or business class person. A professional home loan agent or home loan advisor can guide you to the bank that can give you the maximum amount of home loan based on your income source and other related criteria.
The importance of a home loan sanction letter:
It is absolutely important to remember that a home loan sanction letter is extremely crucial and can act as a great tool for negotiating with a home seller or property developer. It is as good as cash because the property seller can see upfront that you have a sanctioned loan and the margin money with you ready and therefore will seriously negotiate in case he is a motivated seller. 99sqft.com home loan section will guide you through the entire process and ensure that you have a sanction letter in hand before you sit for property deal negotiations.
Checking the loan eligibility of a property:
Once your own loan amount and loan eligibility is in place, the next step involves checking if the home or office or any other property is eligible for a home loan or getting funded by a bank. In the case of a primary property (deal directly offered by a developer) there are various documents including sanctioned plans, permissions from relevant authorities with regards to construction, CC, OC, RERA registration, etc. that are needed. In case of a resale property one has to check if the title deed is clear, chain of agreements are in place, share certificate is in place, society documents are proper, maintenance bills, utility bills are in the name of the seller, if stamp duty has been paid and registration done on all the agreements in the chain and so on. Ensure that you have a professional property lawyer or a professional real estate agent to check all these documents for you before you finalize any new or resale property. Once you decide to take a home loan, the bank will also undertake the entire due diligence of your selected home in terms of the paper work to check the title and also check the valuation of the property. Once all these things are in place the bank will essentially qualify the said property for a home loan and then based on your home loan eligibility mentioned in your home loan sanction letter and the valuation of the property it will offer the final and actual disbursable amount towards your home loan purchase.
The best mantra to get a very good home loan is thorough preparation in advance so that there are no nasty surprises and also ensuring that you have your home loan sanctioned before finalizing a property, ideally. If you work with home loan professionals or experienced housing loan agents, you will get the right advice with regards to home loans and related information. 99sqft.com team also provides loan against property at the most competitive interest rates from the widest range of lenders in the market. The home loan division within 99sqft.com empowers every home buyer with the right information in terms of home loan providers, rate of interest, advantages, maximum eligibility based on your specific case, faster sanction, smoother disbursals, legality check of property in terms of title, loan eligibility, etc. Thus when you buy your dream home and are looking for a hassle free home loan, simply click on Home Loan for availing the best possible home loan, easily.