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Home Loan In Mumbai

By Author: Loan Counsellor
Total Articles: 2

Buying a home in Mumbai is every Mumbaikars dream. Thankfully, it can be fulfilled due to availability of home loan, regulatory norms by RBI and basket of real-estate options.

The guidelines to apply for home loan from leading banking and non-banking financial institutions are readily available online on their web-portals. But it is still advisable to consult, review and evaluate different options available from the lending institutions, before selecting or finalizing them. That is why, it is advisable to use the free of cost services offered by LoanCounsellor.com to get a home loan in Mumbai.

Below are the simple steps to consider before taking a home loan in Mumbai:

1. Check your Eligibility & Calculate EMI: Before opting for a Home Loan in Mumbai to buy your dream home, check your loan amount eligibility. Eligibility of the home loan depends on your income, repayment capacity, credit history and CIBIL score. LoanCounsellor.com can assist you to check your home loan eligibility online. In fact, they have a multi-functional and easy to use EMI Calculator on their web-portal. It helps you to understand total interest and principal component for your home loan. EMI Calculator will also assist you in designing your futuristic financial decisions and saving models.

2. Processing time-frame: Carry out your own research, have a fair idea about the financial institutions short-listed by you for your home loan. This is where LoanCounsellor.com’s expertise will help you to short-list and select a bank for your home loan.
With the rejection rate of less than 1%, LoanCounsellor.com are able to efficiently cater customers with their Home Loan requirement with below mentioned benefits.
a. Customers can easily track their loan application status online on our website and stay updated with the sanctioning process.
b. LoanCounsellor.com will provide hassle-free services to all the customers at their door-step.
They assure smooth operations of the entire home loan process with swift and smooth disbursement process to all their customers.

Steps involved in securing a home loan:

1. Apply/Place an enquiry online on LoanCounsellor.com: To begin with, you can apply for home loan online on LoanCounsellor.com website and the company representative will get in touch with you.
2. Documentation: A Loan Counsellor will assist you to arrange all the necessary documents required for processing of your home loan. You can even find the document checklist online on their website. Once the documents and application form is submitted to the Loan Counsellor, you can track your home loan application online.

3. Home Loan Sanction: Lender will use the information provided by you to evaluate your financial eligibility. After evaluating your financial eligibility, the lender will also assess the property value to confirm the final eligibility.

4. Home Loan Disbursement:
a. Home Loan Agreement: Lending institution shall provide you with the Home Loan agreement. All you need to do is to sign the agreement, submit few post-dated cheques and submit the original property documents.
b. Disbursement: Upon submission of your Home Loan Agreement and Original property documents, lender will issue a cheque in favor of the seller/builder and your dream home will be your postal address.

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