How does one choose the right home loan plan? There is one and only one way to go about it. The search process for the right home loan plan requires a clear understanding of home loans and a comparison for numerous home loan plans. The clear understanding of home loan plan entails knowing what affects home loan application and what steps to take to ensure that the best plans are available. This in turn starts with the knowledge of one’s home loan eligibility.
Housing.com has introduced a home loan section that simplifies the home loan application process. If one puts in efforts, there is a distinct possibility that the applicant may go from having zero knowledge to being an expert on home loan. This has been made possible by bringing together all vital resources that help a person apply for home loan online .
Home Loan on Housing.com
The ‘Home Loan’ section on housing.com can be accessed by clicking the icon by the same name on the home page of the portal. This section primarily consists of the home loan eligibility calculator. However in following with the principle of information dissemination, the portal has also offered a comprehensive home loan guide. This guide is a single information resource which offers all possible details related home loans in India. It explains what they are, how to prepare for one, how to apply for one, how to service one and how to effectively close one. In the process it ably explains the factors that affect a home loan application as well and how to remedy circumstances where one is not eligible for a loan. This guide is one resource of its kind and yet is free to access.
The other component of the home loan feature-of course-is the home loan eligibility checker. The major factor that the loan disbursement amount is dependent on is the earning of the applicant/applicants. This checker is based on certain formulae that reveal the approximate amount that a bank would disburse. However this amount is tentative and may change due to other factors as explained in the guide.
Selecting Home Loans
The home loan eligibility calculator requires a person to merely enter the earning details followed by the type of home loan sought. The result shows how much home loan amount would be offered. The end user also gets to choose the repayment time and the down payment. The approximate EMI is also displayed alongside.
On the same page, the end user also finds numerous home loan plans listed out. Housing.com has tied up with some of the biggest home loan lenders from across the country. They are also listed on the bottom of the home loan section page. The loan plans from these lenders are displayed in accordance with the eligibility of the applicant. Therefore there is a possibility that not all the lenders display the home loan plans. However there are a lot of plans to help a person figure out which one would be the best. These plans come with details like interest rates, processing fee etc. which can help in easy comparison and quick choice. It is immaterial whether a person is seeking a house for sale in Bangalore or Mumbai; the plans are applicable to all purchases.
Not only can an end user apply for a home loan online but also can monitor the application from here as well.