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blog details posted by velocity housing real estate agent in greater noida
Blog details
Home Loan
23 February
2016
By Velocityhousing.com, | 05 Comments

Home Loan

What are the factors you should keep in mind before getting a home loan?

The main criteria are:-

1.  Your income and your track record of repaying previous loans- this is obtained from the Credit Bureau.

2.  Your current expenses including other loans you are servicing. The amount of loan related to the property value.

3.  Ownership of the property-this means that the lending bank should be comfortable that the seller has full and complete ownership of the property.

4.  Getting a loan depends on the report of the local bank surveyor who will inspect the property and give his recommendation.

Home Loan Eligibility depends on your ability to pay (ie. based on your salary) and not on the age of building. However, the quantum of loan depends on age and undivided share too, in addition to your repayment ability.

Do you get tax benefits on loan?

Yes, tax benefit on repayment of housing loan is available as per section 80C of the Income Tax Act, within the overall limit of Rs. 1 Lakh.

What is pre-EMI interest?

The pre-EMI interest is the interest charged by the bank in respect to the loan provided by the bank for the period of disbursement of the actual loan to you and the effective starting of the EMI.

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About the Author: Velocityhousing.com
Velocityhousing.com

Velocity Propbuild(P) Ltd. an ISO-9001-2008 certified and Dar Germany Pvt. Ltd. accredited real estate consulting firm has established an immutable image of proficiency, Reliability and Transparency by providing satisfactory services the local, regional and global real estate needs of clients.

Long experience with diverse portfolio and maintaining world class quality system, unique & innovative techniques and procedures make us the most preferred real estate real estate consultant in India.

Our deep commitment to community, reputation of integrity (Honesty) and trust, our visionary culture makes us the real estate consultant of choice.  

Soaring success of Velocity Propbuild Pvt. Ltd. lies in the firm and consistent approach to provide outstanding services to the clients. With over 4500 satisfied customers, Velocity Propbuild Pvt. Ltd. has become one of the fastest growing real estate consulting firms in India (especially in NCR region). Satisfied customers are the real asset of our company.

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