123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Home-Based-Business >> View Article

Tips To Get Home Construction Loans Without Income Proof!

By Author: Anil Patel
Total Articles: 20

There are a lot of banks and different types of home loans available which you can avail to buy the ready-to-move home. But there are also many such people who already own a plot or land and want to construct house according to their needs. You can get the home construction loans from the banks or the finance companies. With such loans, you can construct your own house. However, eligibility criteria to avail such type of loans is different.
You will have to first get pre-qualified for it to get best deals. When you apply for the construction loans with a bank you will need a proper documentation with several documents such as the income proof, bank statements, and many others. Once you submit all the required paperwork the bank will run a check on your credit history. If you fulfill their eligibility criteria, then only they can approve the loan.
You might also need to pay a processing fee as many banks charge it. Several banks do not charge this processing fee as a part to get more customers. But getting new home construction loans from the banks is a complex process. There are people with the eligible income but lack the paperwork. Such people are unable to get the loans from banks. In such cases, there are many private finance companies which can still give you the loan.
Such financial companies have a minimum eligibility and can offer you the construction loans without or minimum documentation. For this, they charge you an interest rate which is a bit higher than the banks as such type of loans fall under high-risk loans. They normally charge around 5 percent higher interest than the standard one. But if you do not have proper paperwork this can be the right place you can get home construction loans in India.

More About the Author

Anil Patel: 32 years Old. Writer and financial consultant. Music Lover and foodie.

Total Views: 163Word Count: 305See All articles From Author

Home Based Business Articles

1. Contract A Home Renovation Organization
Author: James Kyle

2. Top 5 Ceiling Fan Company In India | Decorative Ceiling Fans 2019
Author: Revati

3. Some Of The Things To Consider When Replacing Your Windows
Author: Lewis Adair

4. Questions To Ask Your Kitchen Remodeling Contractor Before Hiring
Author: Daniel Budure

5. Buy Weed Online
Author: Buy weed online

6. Step By Step Instructions To Set Aside Cash With Attic Insulation
Author: Aron Abrams

7. How To Choose The Best Paint Colours For A Commercial Building?
Author: Sam An

8. Importance Of Using Fire Rated Glass In Commercial Construction
Author: Green Future

9. How Can Digital Marketing Work For Your Business?
Author: Rayan Tayler

10. Strong Security Doors – The Need Of The Hour Today For Every Home Owner
Author: Ruel Del Pilar

11. House Plans And Designs
Author: varunsharma

12. Benefits Of Choosing The Right Roofing Company
Author: Brian Bastel

13. Get Expert Home Cleaning Services From At Services
Author: sanjeev kumaar

14. Who To Call When You’re In Need Of Emergency Bio-hazard & Trauma Clean-up Services
Author: ServiceMaster 24/7

15. Marble Tiles For Beautiful Home
Author: Maheshwari Impex

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: