Archive for : September, 2017
SA Home Loans #MakingHomesReal
SA Home Loans wants to make your home real by giving you a chance to win R100 000 that can go towards your own home – plus you could win lifestyle prizes worth R5000 daily.
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How to Transfer Home Loan from other Bank to SBI | Home Loan Balance Transfer Process to SBI
How to Transfer Home Loan from other Bank to SBI | Home Loan Balance Transfer Process to SBI .
TAKEOVER OF HOME LOANS
1. Whether Home Loan can be taken over from the following Institutions?
Scheduled Commercial Banks (SCBs);
Private and Foreign Banks;
Housing Finance Companies (HFCs) registered with National Housing Bank (NHB);
Borrowers employers if they are Central/State Govts. or their undertakings or Public Sector Undertakings,
Yes. subject to the following:-
Borrower should satisfy the eligibility criteria for availing Home Loan as per the Banks instructions.
The borrower should have serviced interest and/or instalment of the existing loan regularly, as per the original terms of sanction.
The borrower has valid documents evidencing the title to the house/flat.
2. Whether take over with sanction of Higher Loan Amount & extended Repayment Period is possible?
Yes.Based on the merits of the case and requirements/ eligibility of the borrower, the Bank may sanction an amount higher than the amount taken over from other bank/ financial institution for purposes of renovation/ extension/ furnishings. Similarly extended repayment period may be sanctioned provided that at all times the criteria regarding maximum permissible finance and security margin under the Bank’s scheme are not diluted.
3. What is the procedure for Take Over?
The borrower should address a letter to the bank/ financial institution from whom he has availed the loan asking them to deliver, immediately upon receipt of the loan amount, the title deeds and other securities, if any, direct to our lending branch;
The borrower should give to the branch a request letter for paying to his existing lending bank / financial institution the outstanding amount of his loan by debit to his loan account;
The borrower must give an advice of the actual outstandings (with up-to-date interest) in the loan account from the other bank/ financial institutions;
the statement of Account for the entire period of loan or for the last 10/12 months where the loan has run for a longer period;
Confirmation letter from the financing Bank that they have created an equitable mortgage over the property.
4. What are the documents required for availing the loan?
Disbursal must be effected only subject to the above information being found satisfactory and completion of formalities as regards
Agreement to create Mortgage,
Power of Attorney in the favor of the Bank authorizing the Bank to create equitable mortgage on the borrowers behalf.
Interim security (Ex: Bank Deposit Receipts, LIC Policies, etc) and the security obtained in the interim period will be released after receipt of the title deeds then the other Bank and creation of a valid equitable mortgage subsequent to verification of the borrower’s title to the property.
Required loan documents.
5. Whether Pre-payment penalty is funded?
Yes. Total loan quantum, will however, continue to be determined by eligibility criteria based on income, EMI/NMI ratio, LTV ratio etc. applicable to Home Loans scheme.
6. Whether takeover of Home Loan with Top up loan is permitted?
Yes. Home Loan with top up loan can be taken over subject to Maximum LTV of 75 % and fulfillment of other terms and conditions of takeover.
What Credit Score is Needed to Buy a House | VA Home Loans
What Credit Score is Needed to Buy a House | VA Home Loans
Ever wonder what credit score is needed to buy a house? In this video Eric gives an educational explanation of FICO credit score requirements for VA home loans. In general the VA has no minimum FICO score rule. The Veterans Affairs in itself does not lend the money for a home loan. However they set up the basic guidelines for VA approved lenders like Low VA Rates and other VA lenders to follow. In the VA handbook there is no rule about a minimum FICO score to purchase or refinance a house. So that being said why do other VA mortgage lenders have a rule for a minimum FICO credit score?
The reason for this is because a lot of other VA mortgage lenders have what is called overlays. Overlays are essentially rules that the lender or bank puts in place on top of the basic guidelines. These are essentially extra guidelines put in place set by the company providing the VA loan. That being said many banks will not do a loan innless the FICO score is above 620 – 640 depending on the lender.
Here at Low VA Rates we do not have a minimum FICO score requirement. This does not mean that everyone is going to be approved but we are not going to base our decision on the FICO score alone. Watch the above video as Eric describes this in detail.
Low VA Rates
Address: 384 S 400 W, Lindon, UT 84042
Hours: Open today · 6:00 AM – 8:00 PM
Explore VA Home Loans
The VA offers home loan benefits for Veterans and their families.
Why to Shift Home Loan from Base Rate to MCLR ? – Subodh Gupta
What is MCLR ? How does MCLR impact our Loan EMI ? Should we switch our loans from Base Rate to MCLR ? Watch this easy to understand Video – Subodh Gupta (Founder – Sasta Loan Bazaar.com & Thoughts Caffe.com)
ICICI Bank Home Loan -Simple Steps & get instant e-approval
Apply on BankBazaar.com for ICICI Bank Home Loans and get instant e-approval.
Visit & apply at:http://www.bankbazaar.com/icici-home-loan.html
Is finance a concern for your dream home? Check ICICI Bank Home loans deals and enter your new house without concerns. ICICI Bank offers competitive Home Loan interest rates & exciting features and benefits. Check your ICICI Bank home loan eligibility now by filling up the above form and get best housing loan offers instantly. Check your Eligibility Now!
Don’t Decide Home Loan Tenure Before Watching This Video – Subodh gupta
Many People think that Shorter Repayment Tenure of Home Loan will save Interest Burden. But do they just want to derive psychological pleasure out of this or is it really making a Financial Sense ? Watch this video….Subodh gupta.
Nedbank Home Loans Estate Agent
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