A home/housing loan, also known as a mortgage, is an amount of money borrowed by an individual, usually from banks and companies that lend money. The borrower has to pay back the loan amount with interest in Easy Monthly Instalments or EMI's over a period of time that can vary between 10-30 years depending on the nature of the loan.
Buying a house is one of the biggest dreams come true for most people and an extravagant affair altogether. Imparting life to such a dream requires a lot of effort from the buyers’ end and the best one can do to accommodate the home in their budget is through a home loan.A home loan can be opted to buy a new house/flat or a plot of land where you construct the house, and even for renovation, extension, and repairs to an existing house.
To qualify for a home loan, every applicant must meet the housing loan eligibility requirements. This ensures that he or she will be able to repay the loan without difficulty. Failure to meet the qualifying conditions may result in the loan application being rejected, resulting in a negative mark on the applicant's credit profile. As a result, ensure that you meet the required qualifying criteria to fasten the processing.
Here is guiding you how to applying Business loan with us