Home Loan Eligibility Calculator

Your eligibility criteria for a home loan is primarily decided by your present income and your repayment capacity. Our home loan eligibility calculator helps you in finding out the loan amount you may be eligible for so that you can plan better. Our loan eligibility calculator helps you calculate your maximum loan eligibility in lap in a few easy steps. We have home loan for salaried person, Maximum loan for salaried employee, home loan in dwarka 

Why to login your file here and there without knowledge, that can affect your CIBIL score and rejections in CIBIL enquiries. Just fill your details and get to know for how much Loan you are eligible for. It will save your time and login money . The best Loan calculator in mortgages so far. We claim 95% approval ratio. Now track your file online and see the movement of your file in each and every step. 

What is a Home Loan Eligibility Calculator?

The home loan eligibility calculator is a tool to help you determine your eligibility to apply for a home loan.

How is Home loan eligibility calculated?

The primary criteria for you to be eligible to apply for a home loan is that you must be a salaried employee in the age bracket of 21 – 60 years. If you fit for the criteria, you can go ahead and use the loan calculator on salary basis to determine the maximum loan you can take.

Criteria for Loan Eligibility:

The primary criteria to calculate your loan is your income as well as property.

Other criteria that affect your eligibility are your present financial position, age, credit score and other ongoing liabilities.

Maximum loan for salaried people can be enhanced by adding an earning member of your family as a co-applicant or avail our Loan services.

Other ways to maximise your eligibility:

Look out for step-up repayment plan

Ensure your past repayments are on time

Submit details of additional regular incomes; like rentals , family income.

Keep a track record of your variable salary components

Check your eligibility before login.

Close your short-term loans with top-up.

Source:https://www.prlog.org/12803615-home-loan-eligibility-calculator.html

Loan against property - Loan For Fulfilling Your Dream

Loan Against Property - Loan For Fulfilling Your Dream

In your endeavours to achieve to grow and achieve new horizons, we truly understand the importance of a true support system. Whether it is the expansion of your business or setting up of new business ventures that you believe in, nothing matches the source of financial strength that your own property can provide. A loan against property is a hassle free and convenient process with INR credit. Our dedicated experts offer you customised and tailor made loan products that not just suit your needs but also give wings to your dreams. You can use our loan against property eligibility calculator to check how much loan you can take on your existing property. 

Benefits and features:

Loan against property products

At Inrcredit we offer various range of loan against property products which helps you to grow your business. We have loan against property products like; loan on property value, loan on less itr or loan on without itr. Even you can avail loan on existing emi.

Properties eligible for loan against property

Loan against property is very vide and beneficial financial product. There are many types of properties for which Banks and NBFC’s are providing funding. We offer loan against property for residential house, loan against commercial property, loan against industrial property and even loan against lal dora property.

Easy loan documentation

With INRcredit we have lesser and hassle free loan documentation. Fast processing of loans. Early sanctions and easy disbursals. We dedicatedly follow the bank and customer both for the best loan services.

Fixed rate of Interest and floating rate of interest

We have both the options for customers to choose from fixed and floating rate of interest as per their convenience.

Pre-check loan eligibility

Precheck your loan eligibility before login here and there or verbal commitment of any Loan DSA or executive.Just log on at www.inrcredit.com and submit your details to check your approx loan eligibility. It will facilitate you to know your loan eligibility and save your time , cibil, and initial loan processing fee which will cost more if you apply multiple times. loan against property without itr

Whether it is a property in the heart of Delhi or you want to take a loan against property in Gurgaon, or loan against property in west delhi INRcredit has got you covered with its accurate loan packages that suit the particular needs of every individual or company.

Getting a loan against property? Here’s what you need to know

Sometimes people need money which they don't have. Instead of badgering friends and relatives, getting a loan from a bank is easy and safe.

Whether you need money to finance your business or for your daughter's wedding, asking friends and relatives for help is never easy. Not only does it look presumptuous, it is best to keep relationships and money separate. And you don't really have to. Getting loan against property is easy in today's times as long as you are capable of repaying it. Indians are noted for their seriousness when it comes to repaying anything they have borrowed and that is why banks and financial institutions don't mind lending money. Here are some things to know before you mortgage your property for a loan.

What it is

In India, this means that a bank gives you money when you mortgage a piece of property with it. Property may be a house, apartment or just a piece of land and depending on its value, you get a corresponding amount of loan. Loan against commercial property is also being considered quite a lucrative option these days.

Purposes you can use it for

There are many purposes for which you can use this money. A loan against property in Gurgaon or loan against property in west delhi can be used to build a new house or to do up an existing home. One can also fund medical treatment, take a vacation, expand a business or send a child for higher education abroad. Basically, it can be used for almost anything as long as one repays it. 

Eligibility criteria for getting loan against property 

Getting such a loan is not very difficult as long as one has the eligibility to do so. The eligibility criteria differ from one bank to another, so you may want to check your loan eligibility before login. However, there are some common factors that all banks in India will check before a person is considered eligible for a loan. Your income and savings and any pending debt obligations you have will be checked thoroughly. Of course, the property in question will be valued to make sure that it can be mortgaged. Your repayment history for loans and credit cards will also be gone through.

Mortgaging one's property to raise a loan is considered one of the best and easiest ways to get a loan in the country. The only problem is that if by any chance one cannot repay the loan, the property which has been mortgaged will be taken over by the bank. Hence, the chances of losing the property is high and therefore repayment should be taken very seriously

Source: http://www.imfaceplate.com/inrcredit/getting-a-loan-against-property-heres-what-you-need-to-know

Home Loans - Things You Need to Know

Home purchasing in India has never been this easy and approachable. The credit for the same goes to home loans. Among so many leading companies that provide customers easy loan options, well established ones are surely considered to be the first choice. 

Loan Application Requisites

The banks and lending institutions often follow the rule for maximum loan for salaried employees and keep your loan amount 60 times more than your net monthly salary. Also the maximum amount you can avail is the loan upto 75% of property value.

Your earning should look promising to pay back in the future.

In case you have any ongoing loans like auto loan or personal loan, you will not be eligible to take a home loan.

Some important documents required are address proof, income proof, identity proof, salary slips and statement of bank account in which the salary is credited.

Total Loans

Purchasing your dream home and getting it customised according to the needs of your family cost you heavily and lending institutions understand that. many companies offering dda home loan in Dwarka offer you an additional amount of loan over and beyond your home loan to meet those extra needs.

Part Prepayment Facility:

If you have successfully paid your first EMI, it is possible for you to make prepayments for your loan. While your monetary situations may differ from time to time, some people prefer to make chunk payment as and when it is possible to ease of the pressure in future. This allows them to pay as many EMIs as possible although the limit may differ from lender to lender.

Refinance:

Purchasing your home with your own money can give you the benfit of refinancing. This allows you to take a loan against property if the property has been registered.

Prompt Repayment Benefit:

If you have a good track record of paying your EMIs on time, then the lender rewards you for the same. After paying the first 12 EMIs, you can avail a 0.5% of the annual interest paid returned by the end of 12 months. This facility is provided by only some lenders and can be enjoyed in the first three years of your total loan tenure.

Zero Foreclosure Charges:

Home loan can be foreclosed at any time during the tenure. There are no foreclosure charges if you decide to do so.

Online Account Access:

Most financial companies nowadays have an online customer portal which gives details like interest certificate, payment schedule and pending EMIs. The customer creates an account on their digital portal and can access all this information right from there. They can even pay there EMIs through these digital portals.

Source: http://www.imfaceplate.com/inrcredit/home-loans-things-you-need-to-know

Fulfil your dreams through easy home loans

Often times in life, we get in a dire need of money and such demands are not possible to be overlooked. A need to own a home, a car or renovation of existing home lead people to go for personal loans. These personal loans are one of the most expensive tools of finance. While one can easily avail a personal loan up to 10 lacs without giving a collateral or guarantee, customers can enjoy these loans at attractive rates and less documentation provided they have a good credit score. 

These loans can be repaid in easy monthly instalments of up to 60 months. But what if you have a bad credit history? And what about the ever increasing rates of interest? Many financial institutions and banks provide you with loans with high rate of interest ranging from 14% to 25%. 

Buying and owning a house is one of the most important priority of Indian families. High inflation rates are only making it difficult to make the dream come true. With basic cost of living and increasing rates of real estate being increased with no leaps and founds, buying a home is not as easy as it was fifty years ago.

Hence, the deal to buying your dream home lies with a good home loan. Most banks offer effective home loans to people with good credit record. There are various slabs of interest rates and tenure options. In fact, there are many financial institutions that offer options like home loan with bad credit history or home loan without ITR making it all the easier to turn your dream into reality. these loans are provided for a tenure up to 30 years.

It is important that before you finalise the deal with the lender and sign the documentation, you read the terms and conditions, ROI and many other schemes offered by the lender. There are two basic types of loan interest rates – fixed rate and floating rate.

These loans can now be availed online and in fact, you can now check your eligibility before login to make the process even more seamless for you. 

Read more info about the loan on dda flats https://www.inrcredit.com/home-loan

Source: https://www.wattpad.com/735339009-check-your-eligibility-before-login-fulfil-your

What a home loan calculator can do for you?

Buying your dream home has become convenient with a myriad of online websites of loan providers and advisers. With these many options being available, many websites have come up with their own versions of home loan calculators. Some common ones are home loan eligibility calculator and loan calculator on salary basis which let you check your loan eligibility before login. So, what exactly is a home loan calculator and how does it help and what all services it can offer? Let us understand the same in more details.

With a stiff competition between lending institutions and raising awareness among borrowers, many websites have come up with online calculators to make the math easy at both ends. These calculators are based on forms that you fill with your personal details. The calculator provides a rough estimate of the loan amount you are eligible for and the approximate amount of EMI you will have to pay in order to repay the loan. The form works as a first step in searching the websites and understanding the finances when it comes to take a big decision like home loan and that too under the privacy of your own homes. The individual does not have to publicise his idea about applying a loan to any financial agent and yet can receive all the important information required.

Having this basic knowledge helps the person to understand how much is his repayment capacity and how much loan can he afford. The websites have nearly all possible information in a very simplified manner. You can fill up the details of your salary, age and current liabilities which judges your repayment capacity and EMIs. the borrower in the final stage gets the amount of loan he is eligible for and the total tenure of the said loan. One can also alter the tenure of loan to have a comfortable and affordable amount of EMI. Once you are aware of rates and details of different loan providers, you can go ahead and apply for the loan to make that dream home yours. This helps you save a lot of time and energy which is otherwise wasted by directly approaching a number of lenders.

Online loan calculators are also a boon for people looking for loan against property and help the lenders narrow down their searches and go ahead with the most suitable institution. It is however important to remember that these calculators are for reference sake and one should only consider them for initial research. The total figures and loan amount that you get may not be applicable for all lenders and no institution is bound to give you the same figures as depicted in the calculators. 

INRCREDIT offers a myriad of options when it comes to home loans. If you are looking for home loans or loan against commercial property, you can reach out to us or use our online loan eligibility calculator and check the amount you are eligible for. 

Source: http://www.imfaceplate.com/inrcredit/what-a-home-loan-calculator-can-do-for-you

Home Loan Eligibility Criteria In India

Purchasing your dream home in today’s times is surely not easy. The ever increasing price of real estate is a matter of worry to everyone who is planning to buy their dream home. If you are too bothered by such high rates, then you need not worry. There is always an option to get a home loan on DDA flats for buying the house of your dreams. However, to get a home loan you need to be eligible first. Here is a brief of home loan eligibility criteria in India to give you a fair idea. However, you can also take help of loan calculator on salary basis to get better insights. 

Firstly, to be eligible to get a home loan it is important that you are at least one of the following segments:

Professional

Self employed

Salaried

Hopefully this makes it clear enough that you need to have a regular income source to meet eligibility criteria for a home loan. This is because the bank expects your loan to be repaid on time and a person with regular income is expected to do so with ease. In simpler terms, the risks involved in lending funds to an earning person are much less as to that of someone with unsteady income base.

Let us discuss these categories in details:

Salaried Individual

If you fall under this category, you have to be a permanent employee of a private or public firm. If you are working with a private firm, it is important that the company is a reputed one. You will have to provide proof of income in the form of bank account statements, salary slips etc. if you don’t fall under this category but your spouse does, you can take the loan under his/her name.

Professional

a professional is a person who is a doctor, engineer, architect, accountant, dentist, consultant. If you fall under this category and can show steady income proof, you are eligible to get a home loan.

Self Employed

self-employed is a person running their own business. If you have your own business or have any other source of income you can apply for home loan but it is also vital that you are regularly filling your income tac returns.

Besides the categories, here are some factors that affect your home loan eligibility:

Income

How much you are earning per month decides the amount of loan you are eligible for.

Age

The home loan applicant must be at least 24 years of age at the beginning of loan and not more than 60 years at the end of loan. The age can be extended up to 65 years in case of self-employed people and professionals.

Interest rates

The eligibility for your home loan is often inversely proportional to the interest rate you are paying. If the interest rate is low, your eligibility will be higher.

Loan tenure

The longer is the tenure of your loan, greater will be the amount you are eligible for.

Existing loans

Most Indian banks try to keep the ratio of EMI to income somewhere between 50 to 60 percent. So, in case you have some existing loans going on, the eligibility amount will be reduced in order to maintain the said ratio.

Credit history

Banks will check your credit history from CIBIL score which is considered to be of high value in determining your eligibility. The information can be accessed in the form of credit information reports and to ensure you maintain a good credit history, it is important to pay your credit card bills and EMIs on time.

Source:https://www.wattpad.com/732138518-loan-on-dda-flats-loan-calculator-on-a-salary

Understanding the advantages of loan against property

One of the best things about being born to good parents is the fact that you end up getting a lot as inheritance. But, it is important to remember that just because you were blessed with rich parents does not mean you are going to be rich forever. None of us is immune to tough times like business losses, alcohol or drug addiction, gambling or frauds which may land us in a position of bankruptcy. You may end up losing a good amount of money and have nothing at hand to start your life again.

The good news is that you can reap the benefits of borrowing a good amount of money against your inheritance. Here are top benefits of taking a loan against property.

You get your property back

If you repay the amount well, your property is returned to you. It is obvious that no one wants the inherited property to go out of hands, so it is important that if you have taken a loan against property, you work hard to get it back.

You can use it as you want

One of the best benefits of an inherited property is that you can use it as per your own free will. If you need money on urgent basis, all you have to do is take the formal documents and procure a loan against the same.

It’s a well-known trade

Well, since you are giving your property and getting good amount of cash in exchange for the same. Most companies who are into the business of providing such loans are legal and ethical. There is a formal documentation before such a deal takes place between either of the parties.

It is not uncommon

While it may come as a surprise to you, but a lot of people take loan against property. In fact, many of your close friends might have done it too at some point in their life. People who want to start their own business or need a good amount of money for further studies abroad may resort to such options.

There are lesser risks involved

While nothing in the world is 100% safe, if you take a loan against property and are unable to pay, you end up losing your property. This implies that you do not lose your self-respect nor are you threatened.

It is simple

The procedure to get loan against property has become much less complicated. There is fewer documentation and faster processing of your loan. In fact, many companies are now offering loan against property in Gurgaon and loan against property in west delhi too.

Source:http://www.imfaceplate.com/inrcredit/understanding-the-advantages-of-loan-against-property

How to make sure you get lowest rate of interest for home loans

Buying a home is quite a significant event in a person’s life. Selecting the right home not just needs a lot of planning at your end but also comes with its own kind of responsibilities. Financing a home is one of the most convenient way to fund the money required to own the place. But, before you apply for a home loan, it is important to consider the EMISs you will have to pay and the rate of interest you will be getting the loan at. Banks and other financial institutions today have a myriad of financing options, some even provide loan against property without itr and special rate of interests on loan on mcd houses but it is always better to follow these tips to ensure you get lowest rates on your home loan. 

CIBIL Score

CIBIL is the prime factor when it comes down to determine the home loan eligibility of an applicant. A good CIBIL score increases your chances of getting a loan at attractive interest rate and hence you get a home loan on cheapest EMI. To improve your score, make sure you pay credit card bills on time and do not delay other loan EMIs.

Down Payment

It is suggested that before you purchase a home, you save enough money to make down payment when you are applying for the loan. Paying a higher amount for down payment reduces your burden of long tenure EMIs sine you have already paid a significant amount of payment.

Debt-to-income Ratio:

Another important factor when it comes to applying a home loan is debt to income ratio. It is basically the ratio of income compared to your overall monthly EMI amount. It is suggested to keep your EMI amount less than your monthly income in order to have a convenient loan repayment process.

Stable Job & Source of Income

Banks and lending institutions consider the employment stability of applicant and his/her income to calculate the amount of loan a person is eligible for. A person with regular source of income and a stable job have better chances of getting a home loan at good interest rates. You can check your home loan eligibility online by using loan calculator on websites like INRCredit.com. 

Source: http://www.imfaceplate.com/inrcredit/how-to-make-sure-you-get-lowest-rate-of-interest-for-home-loans

A Guide to Loan against Property

Anyone can get caught amidst financial troubles. Taking a loan has long been a good option to fight cash crunch situations since they are easy to get and come with multiple options. While you can always go for a personal loan, it may be possible that the loan amount you are eligible for is not sufficient for you. In such cases a loan against property can come to your aid. Also known as LAP, loan against properties are considered to be one of the cheapest secured loans in India and also come at cheapest EMIs.

A loan against property is basically a loan wherein you keep your commercial or residential property as a collateral to the financial institution and you borrow money against the same.

Here are some benefits of taking a loan against property:

It Can Be Availed Easily

Getting a loan against property is not difficult and most of the top lending institutions offer this facility. All you need is the papers of your property and the process is seamless and hassle free. The loan amount for loan against residential property is disbursed shortly.

Low Interest Rates

In terms of interest rates too, a loan against Gurgaon property is a good idea. The interest rate of these loans are quite less than the ones of personal loans, a clear reason why you should consider these over a personal loan. 

It Can Be Taken For Multiple Purposes

The amount received for loan against property can be used against a myriad of financial things like business expansion, home renovation, debts, higher education etc. Once you have received your money, it is your wish how you use it, no questions asked.

Long Tenor Period

The tenure of a loan against property generally varies between 10 to 15 years. Since the amount you can avail through a loan against commercial property is high, the banks offer a longer tenure to repay. This helps the borrower in paying off the loan easily without feeling burdened. Due to lesser interest rates and longer tenure, the EMI amount is also low.

Continued Ownership

Taking a loan against property does not mean you have to give away the ownership too. You need not pay back the entire loan amount before you get the ownership. If you are not able to repay the loans, you can choose to sell the property at any point and settle the loan with money received.

Flexibility in the Loan Amount

In case of a loan against property or loan against rented property, you have the advantage of getting a flexible loan amount. More often than not, you can get a loan of about 40 – 70% of market value of your property. Hence, it’s up to you and your requirements of how much you want to avail. It is still suggested that you choose to borrow wisely.

Source:https://www.freeprnow.com/pr/a-guide-to-loan-against-property

Types of Home Loans

Loan is basically defined as any amount of cash that one borrows and has to pay back in time, unfortunately with some added rate of interest. The terms may however vary, depending on where you get your loan from and how much loan amount you have taken. If you are taking loan from a bank, you may have to pay an extremely high rate of interest. There are many other variations by how a lender structures the loan. 

Line of credit loans: this is one of the handiest loan for a small business. It is a short term loan which extends the cash for your business. These are intended for purchase of inventory as well as to cover up for the operating costs. This loan however is not intended for purchase of real estate or any large equipment. 

Instalment loans: this loan covers both the principal amount as well as interest. Once you sign your contract, you will receive complete amount and the interest to be paid will be calculated from the date to final day of the loan. There will be no penalty charged if you repay an instalment before the final date.

Balloon loans: these loans are often taken in situations where in a business has to wait for a specific date before the receive the payment from a client for product and services rendered.

Interim loans: these loans are often used by contractors and builders to build new facilities. The property is kept as a mortgage to pay off the interim loan when the construction of building is finished.

There are many organisations that offer loan, some of which are not banks but finance houses and money trusts. Many borrowers in the past did not understand what they were signing up for when taking these home loans and hence found themselves in deep trouble later. To avoid this, one has to first understand what type of loan they are going for. Here is some different type of home loans prevailing in the market:

Loan with fixed rate: this one is considered to be the safest type of home loan since this lets the borrower that a loan at pre-decided rate of interest for the entire tenure. This means even if the tenure is 30 years, the EMI amount will remain the same till your last repayment. This is by far the best possible home loan for salaried persons.

Adjustable-Rate Mortgage Loans – These loans have one thing in common and that is that the payment will increase over time. It offers a very low rate to lure the customer by offering home loan on cheapest EMI for first few years but with larger payments due as the interest rate changes, an adjustable home loan rate can be hard to repay, especially if the payments go double within few years itself.

When buying a home loan, most home purchasers choose to finance a portion of the total amount through home loans. An online home loan eligibility check can give you answers to your questions about loan variables and their changes. This helps a person determine how much he can payback on monthly basis.

Source: https://www.freeprnow.com/pr/types-of-home-loanswhich-one-is-right-for-you

Use a Loan Calculator To Help Choose The Best Home Loan

When you decide to purchase a home and need a home loan to help you finance your dream, the first thing that you must do is decide on the kind of home loan that will be most suitable for your needs. In order to do so, a home loan calculator is an indispensable tool at your hand. There are a myriad of home loans where in each one of it comes at its own interest rate and payment terms. A home loan calculator can hence help you choose the right kind of home loan for their needs.

The loan calculator is now easily available at all websites of lending institutions which deal in home loans etc. you can use this free calculator and enter the required loan amount and tenure to get a fair picture of EMIs you will have to pay.

It is important to remember that the more calculations that your loan calculator requires, more accurate will the information be. So, make sure that the figures you provide are as accurate as they can be so you can make the right comparison. A loan calculator can also be used to calculate costs, fees and EMIs. This can help you determine your liability over the years and rethink if you are ready to make such kind of commitment.

Just like you can compare two different loans, you can also compare two different lenders and decide to go with the one that offers better terms. A borrower can secure better lending rates by using a comparison calculator, there are certainly many other ways to secure a good home loan too.

Home loan calculators are also helpful when you need to get loan against property. Maximum loan eligibility in lap is a confusing calculation for many of us. This type of calculator simplifies the job and helps you with exact figures. If you are still unsure about the loan you need to go for and cannot decide the right lender, you can get in touch with some home loan consultant in Delhi-ncr who can help you make the right move. These consultants and calculators are also ideal and helpful if you need a DDA home loan in Delhi-ncr.

Source: https://www.freeprnow.com/pr/use-a-loan-calculator-to-help-choose-the-best-home-loan

Two Ways to Get the Lowest Home Loan Rates

It is true what they say, there is no other place like home. the warmth of family and peace that you find in your home cannot be found elsewhere.

With soaring prices of real estate however leaves people with having second thought about acquiring a home. the rates of real estate have gone higher than ever and making ends meet is not easy, especially if you are a single earning member of the family.

But, fret not. There are a lot of affordable home loans that can be taken only by tracking the right places. Here are two ways which can help you fetch the best deals when it comes to taking a home loan.

Go for Private Sources

Home loan lenders and independent financial institutions are one of the most active sellers of home loans. They help you access various financing programs which can help you buy the home of your dreams. They help you get the loans through agents and brokers for a hands on loan processing.

When looking for the right lender, it is important that you check for their rates and find out if they are within your repayment capacity. It is also important to check if the rate is on fixed rate basis or flexible. Foreclosure of the property is where most people suffer due to flexible rate of interest. People find it difficult to keep on paying the increasing rate of interest so it makes sense to check the terms of loan you are trying to avail.

Go for Government-Assisted Home Loans

The other way to approach and get a home loan is by government recognised banks and financing institutions. Government recognised institutions are reliable and comparatively cheaper however getting a loan from them does not come easy as they follow strict guidelines and paper work. You need to have a high credit qualification and complete paperwork before you avail the loan facility. The cost, however, of these loans is comparatively less and they mostly offer fixed rate of interest.

The lowest price loans are waiting for you to be availed, it is your decision whether you opt for a government or a private financing company. To find out if if you are eligible for a home loan you can now check home loan eligibility online at the website of any lending institution.

Source: https://www.freeprnow.com/pr/two-ways-to-get-the-lowest-home-loan-rates

Should You Rent or Buy a house?

Even though most of us consider buying a house as the ultimate dream, there are many who may not be happy being home owners. Since for most of us an owned house means a huge financial asset, it does make sense to be educated, informed and more prepared instead of making a mere emotional decision.

Keeping that in mind, let us consider and review important considerations that can decide whether owning a home is best for you?

Emotional considerations

Do you have the right reasons for owning a home or you are doing so just to keep up with the society? Does the idea inspire and motivate you or there is some other emotional reason? Do you think you are ready and prepared to own a home and the responsibilities that come with it? Consider if owing a house will make you feel better about yourself or self-satisfied?

Financial considerations

Everyone, especially first time home owners rely on home loan to afford their dream house. In order to do so, one must check their credit report and address any alarming issues which may have a negative impact on your purchase. You can do that yourself or take professional assistance. You can also opt for online home loan eligibility check to see how much loan can you secure. In addition to that, you must have enough savings to pay for the down payment as well as some extra for emergencies. It is also important to possess job security so that you are comfortable going ahead with home loan and have no difficulty in paying back. 

Who might want to continue to rent? 

While this may come as a surprise to many, but owning is not meant for everyone. There are a plethora of reasons for the same. Of course your comfort zone and economic status are important deciding factors too. But will the responsibilities that come with owing a house make you stressed? Would you rather have your landlord remain responsible? Are you planning to relocate in near future? If you are, renting may be a more viable option for you.

Owing a home is great as long as you are emotionally and financially prepared for the same. So, it is important that you proceed with this important decision with your eyes wide open.

Source: https://www.freeprnow.com/pr/should-you-rent-or-buy-a-house

New buyers guide to Home Loans

Are you planning to buy a home loan for the first time? Here is a handy guide to solve your queries and give you a peace of mind.

The basic guide:

Fill up the application:

Just like any other loan, this is the first thing that you need to do. Your chosen lender will help you with the process and you will be needed to complete the application form in order to be legally verified for the home loan.

Opt for pre-approved loan:

Before stepping into the core integrities of a loan, a pre-approved home loan weighs up your eligibility. While it does not consider the legitimacy of the property you are purchasing but it does make it easier to apply for a loan once you know how much you are eligible for and you can enjoy the benefit of home loan on cheapest emi. 

Dispensation:

Once your property is evaluated and the current market price is determined, your lender will verify all the documents and process your home loan.

Approval:

The credit department of the concerned bank will now check your credit history and previous ongoing loans. As per your credentials your lender will approve and sanction the loan amount.

Foreclosure:

In case you wish to pre-close, the finance expert will ensure that your property documents are secured from other parties who may claim the possession of the property any time in the future.

Documents required for the loan:

Duly signed application form

Proof of residence

Proof of age

Bank statement of the last six months

Salary slips of last six months

Document processing fee

Proof of ITR

Academic and business certificates

A valid balance sheet in case of business

Is your property approved by the bank?

It is important to note that all the floors and towers of your project may not be approved by the banks. Hence, it makes sense to check the status of the specific flat you are buying before you go ahead and invest.

How to choose the best bank for home loan?

This is indeed one of the most crucial step when it comes to getting a home loan serviced. So, before you blindly trust any financial institution, do go through their customer ratings and reviews. This will give you a clear picture and a genuine feedback. Many banks also offer door to door service and if you are busy with hardly any time to visit the lender’s office, these banks will be a great aid.

Lastly, do remember to compare offers on processing fee as well as interest rates before you go ahead and make the choice.

INRCredit offers specialised home loans as well as loan against property in Lal Dora and loan against property without ITR. If you are looking for home loans of any kind, you can get in touch with us and take the process further.

Source: https://www.freeprnow.com/pr/new-buyers-guide-to-home-loans

Ways to Increase Your Chance of Getting a Home Loan Approval

Rising rate of interest for home loans has indeed affected the eligibility of a lot of borrowers. Since the eligibility is related to rising interest rates, this leads to a lot of stiffness when it comes to home loan eligibility. Here are five ways in which you can increase your chances of getting a home loan approved:

Increase the term of your loan

Choosing a longer term for loan enhances your loan eligibility. This is because as you increase the tenure, your EMI amount decreases and this increases your ability to pay.

Repay your other outstanding loans.

Any other unpaid loans like personal loans or car loan may also adversely affect your loan eligibility. The lender uses online home loan eligilbility check and considers all of your ongoing loans when computing your eligibility. 

Pool the family's incomes. 

Another wonderful way to increase your chances of getting a home loan approved is to pool your family income together. You can make your spouse a co-applicant and based on that you can be eligible for a higher loan.

Step-up your loan.

A step up loan is another great way where in you pay a lesser EMI in the beginning years and enhance the same during the remaining tenure assuming your income and repaying capacity will also get better in the coming years. This is a popular repayment method for DDA home loans in Dwarka.

Include all sources of income.

When calculating your income, you must also consider all sources of your income including your commissions, perks based on your performance as well as incentives. This will also enhance your loan eligibility.

Alternatively, one can also apply for loan against property in case you are planning to multiply your real estate. This way you get to enjoy a better eligibility and lower rates of interest. You can know further by using a loan against property eligibility calculator.

Source:https://www.freeprnow.com/pr/ways-to-increase-your-chance-of-getting-a-home-loan-approval

How an online loan calculator with taxes can help?

If you are planning to buy a new house, the first thing you may want to know is how much it will cost you and whether you can actually afford it or not. Failing to do so may lead you to regret the same big time in future. So, how can you do all the complicated calculations? Well, you can use an online home loan calculator to find out eligible home loan for salaried person. The calculator can calculate everything you may need to know like principal amount, taxes, interest rate etc. 

An online calculator for home loan is a very accurate and useful tool for not just the borrower but also the realtor as they can enter the needed information and get the desired results. When you get a loan, you will have to pay the monthly instalments to the lender which will last for a long time.

An online home loan calculator is a very nifty and useful tool for both the borrower and the realtor in order for them to be able to enter the needed information and mix and match to get the results they want. When you get a mortgage, of course you will need to pay its monthly payments to the lender which can last for several years. The calculations are hence much more complicated than you can think of and the interests’ rates may also vary as per individual situations. For instance, a housing loan without itr will have different rate of interest and payment terms and so will be the case of loan against property without itr. 

For incorporating required taxes and insurance into one payment, you may need the help of a reliable calculator. It helps you to exactly know the kind of payments you will have to make all throughout the loan tenure and whether you will be able to pay them or not.

Since doing all these calculations is a very time consuming and tedious process, a home loan calculator can really speed up the process and that is what makes it such a useful tool. We can change all the information entered and get different results. This lets you try out different combinations and work out what best for you. Doing this manually is an unimaginable process.

An online calculator for home loan is also an efficient tool if you want to refinance your house. It helps you find out how much you can save on your monthly payments; all you need to do is input the amount of loans with preferred loan rates which will help you know if the saving will be worth the money.

Source:https://www.freeprnow.com/pr/how-an-online-loan-calculator-with-taxes-can-help

Use A Home Loan Calculator To Good results

Mortgage loan refinancing is a common and upcoming practice these days. it basically allows people to save a lot of money that is otherwise wasted on mortgage loans by extending their home loan to get renovations done instead of taking an entirely different loan to cover up these expenses. People often get themselves into financial troubles by extending their loans to a huge amount. This is where a home loan calculator on salary basis comes in handy. 

It can easily be used to break down a loan amount so that people can see how the extension will affect their schedule of repayment as well as the final amount. It also shows the monthly payment and some even go to the extent of showing the salary to loan ratio. This basically gives you an idea of what you can expect on a monthly basis so that you can decide accordingly and plan your budget.

One can now find an online loan calculator online that is free, reliable and easy to use. One can enter the information required in the fields given, like the amount you would like to extend, your net monthly salary.

Before the era of internet, people who were often considering a loan extension were required to visit the relevant bank to check their eligibility. Now, the times have changed and all you need to do is get on the internet and find a suitable home loan eligibility calculator on salary basis.

It also helps you check the difference amount every month in your home loan. A small overpayment, as small as fifty rupees in a month can have immense consequences. By checking your eligibility and other details you can cut off a lot of time from your home loan repayment and save a lot of money in the interest charges.

An online home loan calculator is a fruitful invention and has made the life of many home owners easy. Now you don’t need to visit a bank and find out if you can get an extension or not and what it would cost you every month. It is also an ideal option for new home buyers to find out their potential budget for buying a new home.

Source:https://www.freeprnow.com/pr/use-a-home-loan-calculator-to-good-results

DDA housing allotment scheme

Pertaining to the rising rate of interest and increasing rate of borrowers in terms of home buyers in Delhi, the figures have really gone up in the past few years.

Rising rates of home loan have somehow weakened the responses of customers and even affected the sale of real estate in Delhi. the year 2018 was bad, 2019 does not look good either. The scale on which prices are rising have led to a drop in transactions drastically. Take Dwarka for an example, here the prices have been on an all-time high for the last five years but merely a few transactions have been seen in the recent past.

Real estate builders in Delhi however are not really wary of the current situation. In fact, they expect the buyers to be patient. According to them, the buyers must wait before they invest in a property in Delhi till the next festive season. Industry experts as well as developers feel that around the festive season there will be a major price correction.

For some buyers, however, the festive season has already begun with DDA likely to allot more than 5000 apartments divided into one, two and three bedrooms across Delhi over the next few months. While the DDA allotment scheme is a sheer luck as to who will get hold of the house, this could be probably one of the best possible chances to buy an affordable house in Delhi. what makes it even better is the availability of dda home loan in Delhi-NCR. 

On the other hand, as Delhi remains to be a popular destination of expats, you cannot really expect the prices to go down in reality. This is specifically true for central and southern parts of Delhi residential properties as they are considered evergreen. This is what makes the DDA allotment scheme an even more lucrative options as it is a big respite for those who are searching for a house in these parts of the capital city. The scheme is also expected to bring in more transactions as well. 

While the scheme could bring in a tough competition to private real estate developers in Delhi, the buyers may rejoice if they get lucky.

INRCredit is a financing institution providing affordable loans for DDA houses in Delhi as well as other loan products like loan against property and home loan without itr etc. 

Source: https://www.freeprnow.com/pr/dda-housing-allotment-scheme

Loan against property –all you need to know?

Often times people need more money that they have. Rather than requesting your friends and relatives, it is far more easy to get a loan from bank.

Whether you need money for a new business or to arrange your child’s wedding, asking from your loved ones does not come easy. Not only it makes things awkward, it is best to keep money matters away from relationships. Getting a loan against property is one of the safest options as long as you have a capability to repay the same. We Indians are well known for our repaying instincts if we have borrowed anything from anyone, this is why it is so easy for Indian to get a loan from the banks. But before you go ahead and take a loan against property in Gurgaon, here is all that you need to know about it: 

What it is

A loan against property simply means that your bank gives you money when you keep a property or a fixed asset as a collateral. The property can be a house, an apartment or merely a piece of land. You get the loan amount corresponding to the value of said property. To know more about eligibility, you can take an online home loan eligibility check. 

What can it be used for?

There are various uses of money you get from loan against property. It can be used to build a new house or extend or repair an existing one. It can also be used for a medical emergency, as an education loan or for an upcoming family function. Basically, you can get the loan for any purpose as long as you repay it.

Eligibility criteria for getting loan against property

Getting this loan is not very difficult as long as you are eligible for the same. The criteria of eligibility differ from bank to bank but there are some common factors which are checked by every lender before giving you a loan. Your pending debt obligations, take home salary and savings are thoroughly checked. Maximum loan for salaried employees depends on their take home salary and debt to income ratio. The next step is estimating the value of property to ensure it can be mortgaged. Another aspect is your repayment history for loans and credit card bills of the past.

Yet, a loan against property is considered to be one of the best and safest ways to get a loan in India. But it is important to make sure that in case you are unable to repay the same, the property mortgaged will be taken over by the bank. Hence, it is important that you take repayment very seriously.

Source: https://www.freeprnow.com/pr/loan-against-property-all-you-need-to-know

Loans Against Property - Make the best use of your property

Everyone today wants to procure a property of their own, and there is a reason why. A property is the highest level of security and can easily be converted into cash at any given point in case of an emergency or need. Life is uncertain, and no one knows when you may need a huge amount of money. There can also be a need of money if you are planning to purchase a new car or a big fat Indian wedding of your kids.

Whatever the case may be, you will need cash. If you are planning a loan for the same, it is suggested to avoid unsecured loans. Unsecured loans can burn a hole in your pocket due to such high amount of interest rates prevailing. Secured loans are your best bet in any case and all financial consultants suggest such loans. In such cases, a loan against property can be your ideal solution as it can bring you quick cash.

Another benefit of having a loan against property is to give rise to more properties. For instance, you can easily avail loan against property in Gurgaon to purchase another house in Delhi. there is no fear of repayment too, as these loans come with flexible paying options. This is in fact the reason why more and more people are now opting for such loans. As we said earlier, involvement of an asset as a collateral reduces your interest rates as it creates a sense of faith with your creditors. 

Another benefit of opting for a loan against property is a longer repayment schedule hence it will not create a burden for you. This is a reason why many tenants and home owners are making use of such loans. From the lender point of view too, this is a risk free option. If you are planning to start a business, this loan can be your ideal choice. A plethora of lending institutions are offering these loans which can also help you improve your credit history as well.

It is fairly easy to say that a loan against property is the safest way to get a loan. So, if you are planning to get a property loan for MCD or home loan in Uttam Nagar, then look for a lender that offers loan against property, provided you have a previously owned property as an asset.

Source:https://www.freeprnow.com/pr/loans-against-property-make-the-best-use-of-your-property

8 Conditions Which Can Result into a Loan Rejection

Taking a loan of any kind may alter a person’s life in a myriad of ways. But getting your loan rejected may shatter your dreams. Not to mention the fact that a single rejection may lead to a lot of problems for the future. While everyone is scared of a loan being rejected, only a few of them are aware of reasons of rejection. Let us delve deeper into a couple of reasons why your loan application may get rejected.

Having a Bad Credit Score

CIBIL is an important aspect of your maximum loan eligibility in lap and the Credit Information Bureau of India Limited has credit details of everyone with the financers. These details include your past and present loan transactions and using this information CIBIL derives your credit score. These scores are given on the range between 300 to 900 and the first thing that a bank does is ask for a CIBIL check as soon as you apply for a loan.

Previous Default records

Banks have their own list of defaulters and share this information with all branches. When you apply for a loan with the bank, this information is looked into. This is an important information besides your credit report when it comes to loan approval. For more details on the same, you can get in touch with a good home loan consultant in Delhi-ncr.

Being a loan guarantor for defaulter

Often times people become guarantors for their friends or family members. But in case of a default, it poses a problem for the guarantor. The bad news is that the CIBIL score will be affected and you will be shown as a defaulter even though you were only a guarantor for the said loan. While you may feel it is unfair, that is how the system works.

Too Many Loans

While processing your bank loan application, the banks will add up all existing outstanding loans from all the banks and lending institutions. This helps in determining an individual’s loan eligibility. Banks tend to calculate income to loan ratio which is another reason why your loan application may face rejection.

Job Stability

Your job is an extremely important factor when you are applying for a loan. If you tend to change jobs frequently, it might seem like a negative point for your loan approval. Which implies that a stable employment record is an essential for your loan to be approved, especially if you are applying for a loan on dda flats.

A to solution to all your financial needs – a loan against property

Loans have a significant place among Indians. In fact, it dates back to the history of India since the time of British government. The money lending community at that time was considered responsible for the miseries of poor including peasants and middle class people. While the situations have considerably improved, most people still consider loans to be meant for richer class. The misconception has been greatly broken by banks and financing institutions. Loans against property are one of the oldest loans prevailing in India. 

Since these loans are taken against your property, the rate of interest charged on these loans is quite less as compared to any other personal loan. You can avail these loans for any kind of reasons like medical casualties, personal reasons and even education. You can choose to avail such loans for personal as well as professional reasons. Here are a few guidelines that you must keep in mind though: 

The borrower is required to duly fill and submit the application form and ensure that it is attested as required.

He must have sufficient number of passport photos for the same.

He must also possess a valid residence proof such as Voter ID or Aadhar Card.

He must have all the required documents of property he is seeking the loan against. Besides, if the borrower is a salaried person, he should have a salary slip of last three months along with a bank statement that can work as a proof of income.

Details of any other loan must also be furbished.

The repayment option when it comes to loan against property are also quite flexible. The loan can be paid in easy instalments calculated by money lending authority. Loan against property comes with a plethora of other advantages. Firstly, the person can enjoy plenty of tax benefits. Secondly, many lending institutions also offer insurance benefits to borrowers. To check whether you are eligible for a loan against property, you need not even go anywhere. One can now use a loan against property eligibility calculator right in the comfort of their homes and find their eligibility.

Source:https://www.freeprnow.com/pr/a-to-solution-to-all-your-financial-needs-a-loan-against-property

How to Choose The Right Lender For Home Loans

When you are out to buy your dream home, choosing the right lender for home loan is as crucial as the decision of which home to buy. There are a myriad of financing companies and banks who are eager to accept your loan application, but does that mean you will get the best deal?

Home loans typically come at a locking period of about 15 to 20 years, sometimes even more. So, obviously it is vital that one follows a proper research before finalising the best home loan lender that meets your needs.

INRCredit has a few things that should be taken into considerations when choosing your mortgage lender for home loan:

More than the 'lowest-rate deal'

This one cannot be stressed enough. Choosing a lender should never be limited to considering who offers the lowest rate. A lender that offers the cheapest rate in the market is not a guarantee that will offer best services too. While home loan on cheapest EMI is a preference, the lender must also be easily approachable to solve your queries from time to time. 

Lender's market reputation 

It is important to carry on some research on the right lender for yourself. You must do a background check and procure contact details of previous clients and enquire about their experiences. Learning about the pros and cons of the lender at the beginning can save you from disappointments later on.

Use comparison as a tool

Take out some time and discuss with two or three shortlisted lenders before you make your mind. This will help you decide the right lender that fits your needs. Choose the one that qualifies you for a home loan, offers advice on how you can improve your credit and discusses EMI payments for rest of your financial plans.

Do not get carried away

It is important to stay on your toes and not get carried away when a lender offers you a deal that seems too good to be true. That is his job. There may also be catchy titles of these lenders like senior experts, loan officers and financial consultants etc. ask your estimates, clear your doubts and if you think your questions are being manipulated, ignored or not answered, it is a sign that you should steer clear of that lender.

Know what you want

Before beginning your research, decide what you want. Consider the kind of home loan product you are looking for, type of lender you need, maximum loan eligibility in lap, options for down payment etc. every borrower has a different situation and need, it is obvious that lenders too are not one size fits all.

Buckle yourself up

Ensure that you are prepared for a home loan before you go ahead and sign the loan application. The criteria and parameters for home loan remain similar, but you need to be ready to make the commitment that taking a home loan requires.

A bad lender can cost you much more that you could imagine, including your peace of mind. Choose your lender wisely. INRCredit is a reputed provider of home loans and specialises in loan against property in Lal Dora.

Source: https://www.freeprnow.com/pr/how-to-choose-the-right-lender-for-home-loans