For Most of Us the most memorable days are “Month end” and “First week”!!!
Month End we are running out of cash, and waiting for the “SALARY” and in First week we just enjoy because we have got our salaries and spend it.
We spend all our hard earned money of the whole month and then start thinking “where all money goes”???
The thinking will go for years but can’t be stoppable; we hate our self for not saving a penny in the past 6-10 years. By this time our “AGE” will be around 30-35, we have family and kids too!
Now the Pressure builds, we have to take a life changing decision! One good decision makes your entire family happy and safe.
Start at your 30 years or at least at 35 years you are not late!!
Because you can work till 60-65 Years of your age, you will have solid 30 years, Plan for a flexible Loan, so it will be easily achievable.
Before going for the Loan know some important facts:
Knowing our Maximum Loan Eligibility is Very Important – Depending on our Salary and income Bank will sanction the loan. Bank will provide loan up to only 80% of the property value.
This percentage can be adjustable with the seller or with bank manager explaining your problems (ultimately we will be the loan repayers so doing so we can adjust our initial down payments).
If you’re CIBIL score is above 600, there is no problem in getting home loan, if you have any default issue with the banks you have to sort those issues before you go for loan.
Sometimes you won’t get loan or you may get lesser amount, so clear all the “default” issues with the entire banks.
CIBIL Scores are dependent on so many facts: your date of birth, PAN number, Bank accounts (any bank), mobile numbers, address, gas bill, telephone bills, and references.
Don’t try to beat any of these procedures.
Loan Tenure: Loan tenure depends on bank and your total amount and salary – So proper planning is required.
Reading all the Documents: please don’t sign the Blocks wherever the bank executive asked you for! Read all the documents and then sign, if needed take one or two day to read and then hand over the documents to the bank.
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