Home loan | Loan Calculation | What is required in home loan?

 You need to know some things for home loan.

We who want to build houses. Or thinking to do it but don't have money or ability to build the house. And many of us think that we will take a loan with a foundation of 7 floors and they will give us a loan after seeing this foundation. That is not the case. There are a lot of things you have to accept and know when you want to take a loan. What will be the problem if you go to take a loan again? And we need to know what to do to get loan approval. And today I will discuss these issues here. So let's see what we can do to get a loan.

What to do first to take home loan..?

If we want to take a loan for a house, we need to see what kind of place we are taking a loan for. And if the place to build our house is in a good place, then the bank will approve the loan very soon. And we will always want to live in cities where there is more traffic and better prices. Another thing we have to take care of is that the place for which I will take loan should not be so small that there will be no road after building the house. And even if you build a house in Maine, it won't do you any good if you don't have a proper road. And the road should be such that people can move easily through that road. And if there is a small road like bullet, but there will be problem with giving loan. And to build a house you must first do 30% of the house work. Even if you have to raise the ground floor and make it ready, then the bank will be forced to give you a loan.

Importance of age in home loan.

Age is very important for taking home loan. It depends on how much money you will get loan. Younger age gives you more time to repay the loan. And if the age is more then the amount of loan can be less. The reason will depend on your loan repayments. And so those who want to buy a house with a loan should take a loan at the right age.

Financial Position.

Your financial position tells you how much money you earn. And how much money you can get Home Loan . Loan will be given based on your income. One thing to note is that you are only allowed to eat what you can eat. And the reason for saying this is that the bank will give you a loan only as much as you can repay the loan. And so you should take a loan that you can afford.

Credit score and history.

If your credit history is good, your chances of getting a loan will increase. And on these matters of yours, the bank will give you a loan. And they will make a transaction of so much money with you, they will give you money after verifying many things. And through this edit history of yours, they will understand how much money you can pay Emi.

Importance of paper and which paper to keep.

KYC document, passport, NID card, Aadhaar card, driving license, these documents are required. Income documents, last 6 months salary slip for salaried persons, bank statement, income tax return, investment documents. If you have your own business or business, then income tax returns of last 2-3 years, statement of profit and loss account of the company, business license etc. may be required.

Property documents.

Registered sale deed, allotment letter or builder and buyer agreement from builder, occupancy certificate for ready to move property, property tax receipt, electricity bill, NOC from swissity or builder.

loan calculato.

If they give you a loan. Of course you have to calculate the loan and you think they gave 30 lakh rupees for convenience, and said they will not take any money from you for 6 months. But it's your loss. The reason is that you will add another 2 lakh taka to them in these 6 months. And so we need to understand what % interest they have given us loan. And so if we don't give the money for 6 months or don't take it then they calculate your 30 lakhs as 32 lakhs but after 6 months they will take 9% interesting installment and in that case you have increased some more money. So we have to remember to pay them monthly from the month we take or will take the loan. For whom we will choose a lot of money.

It is better to do that.

If we do not have the ability to repay the loan from the next month, it means that we cannot afford to pay the monthly amount. In that case we should. When I will be able to pay this monthly amount. Take the loan immediately. I want to say one more thing that everyone must verify everything and then take a loan.  And check the interest rate of all banks first because it is better to do it where it is convenient