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| Home Loans |
Home
Loans
are meant to be offered only for the property already constructed, under
construction or likely to undergo construction soon. Capdeal Realty Care being the MostTrusted Realtor in the state of Odisha is always a step ahead to take care
of its client’s financial situation and helps them for sanctioning Home Loans
from banks. Adding to this, Capdeal
Realty Care checks proper documentation before proceeding towards banks.
Capdeal
Realty Care provides an opportunity for the customer to purchase a plot
for construction of a dwelling unit. As per rules and norms, the construction
of the house should take place within 5 years from the date the loan has been
sanctioned. The customer can also avail another Home Loan for construction of a house on plot whenever they wish.
To avail a home loan, the banks
require a set of proper and genuine documents from the customer. Documentation
is the main on which bank sanction a loan for your dream home. The documents
include completed loan application, proof of identification; driving license
voter ID, passport, proof of age; PAN card or birth certificate, address proof;
bank passbook or bank account statement, income documents for salaried individuals
etc. Capdeal Realty Care
understands the authenticity of documents and helps customers to clear the Home Loans smoothly for their homes.
Before starting the home loan
process, Capdeal Realty determines
total eligibility, which will mainly depend on the repaying capacity of the
prospective clients. Their repayment capacity is based on monthly surplus
income, which, in turn, is based on factors such as total monthly income less
monthly expenses, and other factors like spouse's income, assets, liabilities, the
stability of income, etc.
Before sanctioning the Home Loans, the bank has to make sure
that the client is able to repay the loan on time. The higher the monthly
surplus income, the higher will be the loan amount a customer will be eligible
for. In general, a bank assumes that about 50% of monthly surplus income is
available for repayment. The tenure and interest rate determine the loan
amount. Banks, adding to this, fix an upper age limit for home loan applicant
that leads to one's eligibility.
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