Purchasing of a home is among the most important steps of a person. As the cost of real estate increases, the majority of the people prefer to take home loans in order to realize their dream home. A Residential mortgage loan is a loan which one acquires to buy or build or refurbish a residential house. According to Financenu it is easy to locate and get the right home loan that suits your needs and your financial position.

Definition of What a Home Loan Is

A secured loan is also known as a home loan because the property you are purchasing is deemed as collateral. Your eligibility, your income, your credit score, your repayment capacity, and the value of the property determine the amount of money that the lenders can extend to you. A unique feature of home loans is their flexible repayment tenures as well as their low interest rates, in a bid to enable salaried or self-employed persons to have home ownership in the time they can afford in case of both individuals.

Why should I get my home loan with financenu.com?

A one platform where home loans offerings of top 3 player banks and NBFCs in India can be compared and applied through Financenu is provided. Our site is conceptualized on a user convenience so that you would have the following access:

• Open display of interest home loan interest rates

• On-the-spot eligibility checks

• Less documentation process

• Quick response time and disbursements

• Professional assistance on the way to application

We want to make sure that the process of becoming a homeowner is all easy and tension-free.

Characteristics of Home Loans

When you decide to take a home loan at Financenu, there are numerous advantages offered according to the needs of each borrower:

1. Good interest rates Taken

Our services assist you in getting great interest home loans with reputable financial institutions. Reduced interest rates mean that your EMI load goes down.

2. Flexible Tenures

It provides you the freedom to select the repayment options of 5 to 30 years according to your financial planning and convenience.

3. Large Amounts of Loans

Using Financenu, you are able to borrow a lot of money to buy a house considering your aptitude and the assessment of the home.

4. Tax Benefits

Under section 80C and section 24(b) of the income tax act, the borrower is liable to avail tax benefit on repayment of interest and principal component of the home loan.

5. Facility Balance Transfer

Paying a home loan at a higher interest rate elsewhere? By the assistance of Financenu you will be able to move your backlog to a lender that provides you more advantageous terms.

Who qualifies to take a home loan?

Not only salaried workers can use home loans; even self employment and business people can apply to benefit with the facility. Normally eligible requirements are:

• Age between 21 to 65 years
  
  

• Stable source of income
  
  

• Good credit history (ideally 700+ credit score)
  
  

• Minimum income as defined by the lender

Our intuitive tool will enable you to know in real-time whether you are eligible, so you are making a suitable decision before you do this.

Documentation Required

In situations where one wishes to take a home loan, the following would generally be required:

• KYC (Aadhaar, PAN, Passport etc)

• Pay slips (Income tax returns, Bank statements, salary slips)

• Property documents

• Evidence of employment (offer letter, evidence of business in the case of self employed)

We facilitate things at Financenu by making the process less cumbersome as we assist you in compiling and presenting the necessitated documents.

Process of Applying a Home Loan in Financenu

It is easy to apply for home loan with Financenu:

• Our official Home Loan page can be visited.

• Put in simple information like the amount of loan, tenure and income.

• See and compare offers on the lenders of interest instantly.

• Apply on-line or use the help of our loan experts.

All the transparency is guaranteed and we provide end to end services including comparison to documentation, approval to final disbursal.

Final Thoughts

Having a house is not merely an economic ambition, it is a dream, which requires all the support to succeed. When you have Financenu, you are not making a loan application to the house, rather this is your business into the safe future. We have the tools and know-how you need when you purchase your first home, or maybe you need an upgrade, and have plenty of choices available through our site!