Instant Approval - Apply For Loan Here - PNS DEVILAJIT

 

Hello guys welcome back to the today's blog. today I am going to tell you how you can apply for home loan today I will tell you everything about home loan and how you can apply for home loan I will tell you every single thing about home loan 

           Apply online in 5 simple steps 

• Apply application

• Due diligence by bank

• Documentation

• Offer letter

• Loan agreement

So friends, here are the 5 staff that you have to do to apply your home loan

If you do not know about home loan, how to take home loan and what documentation you have to do for it and what is the process for it, then you should stay with us, we will give you complete information about it.And we will also tell you the complete process of how to get a good and better home loan.

Friends, we will give you complete information about all these steps, you just have to stay with us.

                   Get best home loan

                [      Loan Application       ]

                               Step 1

• Enquiry 

   Compare interest rate online 

    First of all, you have to do research online that where you will get the best interest rate and you have to compare your interest rate from many places to see whether you are getting the best price or not.If you are not getting the best interest rate you can search online that How to get the best interest rate

Make enquiry online or directly at a bank

After getting the best interest rate, you can apply for online inquiry or you can also go to the bank and apply for the enquiry, after that you will get an inquiry which will check all the documents. And in the inquiry all the details of your property will also be checked whether all this is happening properly or not and all the papers of your property will be checked 

Negotiate lowest (best possible) interest rate

Now you have to go to your bank and negotiate with your bank and take the lowest interest rate

• Processing fees & Other charges

 Processing fees is around 0.25% - 1% of loan amount but the average fees is  0.25% - 0.5%

• Legal & Technical due diligence charges

 You also need to know about the charges of legal and Technical due diligence

            [  Due diligence by bank ]

                             Step 2

• Financial check

• Field investigation

Financial check

*  ⬇️ Bank statement scrutinized for:

❇️Transaction- credit, Business activity, Investing, Savings.

❇️Average Bank balance.

❇️Other loan and liabilities

❇️Cheque Returns and cheque Bounces

*  ⬇️ Field investigation

❇️Verification of residential address, Contact details

❇️Employee credential- company Address, industry, organization stability

Step2- Due Diligence By Bank

(Technical Due Diligence)

❇️ Physical Visit fo Property- Assess Condifion, Consfruction QUality,

❇️ Encroachmenis er

Property Valuation-By an approved valuer

Additionally for Under- Construction Property

Stage of Construction and Satistactory progress

Quality of Construction

Approved Layouts and Builcding Plans

 (Legal Due Diligence)

Title Check- Legal Ownership and No Encumbrances han 1L

❇️ Property Documents-Title Document (Sale Deed). Possession Certificate, Agreement For Sale

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These are few steps which comes in due diligence by bank. Your bank follow these steps in the stage of due diligence by bank, these steps are necessary for every one who want to apply for home loan.

                     [ Documentation ]

                               Step 3

You need some documents to apply application form and i will tell you which documents required  for salaried, Self employed professional and Self employed non professional  categories. 

            [ Offer letter & Acceptance ]

                               Step 4

Offer letter : send by bank with following details

• Sanctioned Loan Amount

• Rate of interest ( fixed or variable )

• Tenure of Loan

• Made of Repayment- ECS, POST DATED CHEQUES

• Special Scheme ( if any )

• Validity of Offer

• Terms and Conditions

                      ( Acceptance )

• State the final loan amount

                    [Loan Agreement]

                             Step 5

• All Borrowers sign the oan agreement

• PDCS-1 Post dated cheque equivalent to Loan Amount collected by

Bank as security and other PDCs in case of Cheque Repayments

• For Under-Construction Property:

❇️Tripartite Agreement between Bank, Borrower and Builder

❇️>Loan disbursement as per construction stage, paid directly to Builder

❇️original Documents handed over to Bank (Under-Const. Property)

            (Sale Deed & DD Handover)

• Bank ensures you have paid Downpayment Amaunt (20%)

• Sale Deed registered @ Sub-Registrar's Office

• Loan Amount DD handed over to Seller

• Bank collects original property documents

• Bank provides receipt of documents collected

So friends, if you have followed all these steps correctly and you have given the requirement asked correctly, then your loan will be approved successfully and you will get the loan within few days.

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