How to get a plot loan      
You will need to submit an estimate of the total cost of construction, certified by a registered architect. The cost of the plot to you or the current market value, whichever is lower, will also be taken into account to work out the total cost of the project.
 
How to generate down payment for your home loan      
Banks do not provide the entire amount you need to buy your home. You need to put up a certain part of the purchase cost from your side as well. Here is how to put together your initial down payment.
 
Basis of home loan eligibility      
The cost of the property you are planning to buy has a direct impact on your loan eligibility. Read on to find out how. The bank which finances your house purchase naturally wants you to put in a contribution towards the cost of the house so that you have a stake in its continued maintenance.
 
Loan Amount Eligibility      
The loan amount sanctioned depends on a host of factors. Primarily, it depends on your income and repayment track records. But besides that, the cost of the property to be purchased is also a deciding factor. So, while you are looking for a home loan lender, simultaneously make concrete efforts to identify a property.
 
Joint loan to enhance eligibility      
Home loan eligibility is calculated by clubbing your income with your relatives. All banks allow clubbing of the spouses income to work out loan eligibility. In such cases, they insist on making the spouse a joint borrower (or co-borrower). The basic premise behind using pooled incomes for calculating loan eligibility is that both parties will actually combine their income and pay off all expenses (including the home loan installment).
 
The Transparent Floating Rate In Home Loans      
Which interest rate do we opt for; fixed or floating? This is a very common question we receive at Apnaloan.com. Apnaloan has taken a clear stand in this regard. Opt for a TRANSPARENT FLOATING or ADJUSTABLE RATE of interest for a home loan.
 
Glossary of Home Loan Primers      
AF- Administrative Fees (AF) is charged by a HFI on the loan amount sanctioned to you. This fee is normally payable at the time of accepting the offer letter. It is charged mainly to meet the operating expenses of the loan amount for the entire tenure. The expenses for technical site visits made to the property are also covered under this fee. DAS- Deduction Against Salary. This is an arrangement when a salaried employee asks his employer to deduct the instalment from his salary and pay it to the financier. This is done with the mutual consent of the employer and the financier. Some HFIs offer better rates for customers who are employed in organizations where the HFI has a DAS arrangment.
 
Bank loan document checklist      
This will need to be backed up by proof such as copies of last three years I-T returns (along with copies of computation of income/annual accounts, if any), Form 16/Form 16A, last three months salary slips, copies of the last 6 months statements of all your active bank accounts in which your salary/business income details are reflected, etc.
 
The Process of Home Loan      
Now that you have selected the property and have an idea about your loan eligibility, the next step is to apply for the home loan. The tips below help you make the home loan process least painful. The home loan roadmap The process of taking a home loan can be daunting, especially if you have never applied for any loan earlier. And ignorance on your part can not only make it an unpleasant experience, but also prove to be costly. Here is a step-by-step guide to equip you with the right info, so you know what to expect.
 
Tax Implications and Calculations      
Buying a home, especially with a home loan, has huge tax implications for the homebuyer. An overview of the tax laws and how they they impact the homebuyer No matter how much you write on the subject of Income Tax, the subject remains as complicated as ever before.
 
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