In case you have shortlisted a few Developers™ Projects and yet to finalize, we may assist you as you may want to know about your Home Loan eligibility.
Banks/ HFCs calculate Home Loan eligible amount based on your Profile, Regularity of Income, Repayment & savings habits etc.
Compare, Evaluate & Select the Home Loan option that benefits you the most. Comparing Rate of Interest charged by various Banks may be prime objective, but always bear in mind that Banks/HFCs charge Processing Fees, Administrative Fees, Legal Scrutiny Fees, Valuation Fees etc while processing Home Loan proposals. Real Value Consultants help you solve this riddle and choosing the most cost effective and speedy execution of your Home Buying deal. To compare the Rate of Interests offered by various banks/ HFCs, please get in touch with us.
After we have mutually selected the lender, RV assists in filling application forms, completing documentation gathering which may be required by the chosen Bank/HFC. Lender requires complete details about financial assets, liabilities, other personal and professional information, along with details of property selected by you.
Once all documents are collected and collated along with the application forms etc, the Proposal is submitted to the Bank by us. Bank conducts various checks and conducts verification on various counts including CIBIL.
Once all standard procedures and checks are carried out positively, Bank conveys its decision through Sanction/ Offer letter indicating Amount, Rate of Interest, Fees, EMI, Validity, Loan to Value Ratio etc. The approval of loan is at sole discretion of Banks/ HFCs.
You are then required to convey your acceptance to the Offer proposed by Bank/HFCs, once all the term and conditions mentioned in the offer letter are understood clearly.
Banks then seeks legal documents of the property from the borrower to check authenticity of subject property, so as to keep them as security of the loan being given. Next stage is to conduct valuation (technical scrutiny) of the property which determines the loan amount sanction already by the bank. Pl note that the proposed loan amount is subject to satisfactory Legal & Technical scrutiny by the Banks.
The borrower is then supposed to sign the loan agreement, submit Property related documents for completing the disbursement procedure. The bank then disburses the loan amount.