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: 19

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: 128Word Count: 305See All articles From Author

Home Based Business Articles

1. Different Types Of Security Solutions For Apartments
Author: Jill Clevenger

2. Benefits Of Automatic Gates: How To Improve Security, Protection, Privacy, And Appeal
Author: gatesystemsky

3. Selecting The Best Size Of Your Gate When Fencing
Author: gatesystemsky

4. Top Causes Why You Need To Select Iron Made Gates
Author: gatesystemsky

5. Valuable Maintenance Facts Of Metal Gates
Author: romyfernandis12

6. Use Metal Gates To Enhance The Security Of Your Home
Author: romyfernandis12

7. Why You Need To Think Of Metal Gates
Author: romyfernandis12

8. Choosing The Cheapest Electric Gates
Author: romyfernandis12

9. Keep Your Powder Room Organized With These Tips
Author: Ravi A

10. Tiles: Make Your Home Perfect With Tiles
Author: Maheshwari Impex

11. Pros And Cons Of Granite Tiles
Author: Maheshwari Impex

12. Top Emergency Water Damage Restoration Services For Timely Cost Effective Restorations
Author: Kathleen Daboush

13. When You Need A Commercial Interior Designer?
Author: Taurus Inspro

14. What Can The Outdoor Blinds Do For You And How It Protects Your Home Style?
Author: Peter Davis

15. Which Is The Best Tile For Your Home Interior?
Author: Maheshwari Impex

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