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Introduction General Home Finance Awareness Home Loans By Samir Pujara

Introduction General Home Finance Awareness Home Loans By Samir Pujara. Few important points for home loan. Rate of interest selection- Fix or floating Fix rate is pure fix or not?

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Introduction General Home Finance Awareness Home Loans By Samir Pujara

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  1. Introduction General Home Finance Awareness Home Loans By Samir Pujara

  2. Few important points for home loan • Rate of interest selection- Fix or floating • Fix rate is pure fix or not? • Floating rate- How much spread and it is fix for through out the tenure or not?Example: Rate is depend on RPLR - (spread) = rate` 16.50% - 6.00% = 10.50% (Floating) 16.50% -6.50% =10.00% c) Part fix and part floating facilities 2) Any charges on • Part payments. • Fore closer • Balance transfer • Switch floating to fix and fix to floating • Any hidden charges at the time of disbursement like legal, technical.

  3. 3) Prepayment Benefits and immediate effects 4) Part EMI facilities in under construction property 5) Online A/C 6) Service braches in different cities.

  4. Sanction Eligibility It depends on monthly income. Formula: Loan Amount =Monthly Fixed Income*50% / Per Lac EMI

  5. Disbursement Eligibility • Financial Institute disburse the amount against 80% of Cost of Property. Cost of Property = Agreement Cost (Area x Rate) + SD+REG +MSEB+ PARKING+ STAX+VAT

  6. List of Documents required for loan • Application form duly filled and sign.  • PF cheque in favor of (‘HDFC LTD".) • Photograph duly signed. (Appl & co.app) • ID Proof (Appl & co.app) Duly signed (Passport or pan card copy) • Residence proof  duly signed Appl & co.app  (electricity bill/telephone bill/passport/letter from employer/org bank statement) • Latest 3 months salary slips • Latest 2 years form 16 (income tax returns) • Appointment letter / Relieving letter of previous employment  • Latest 6 months original bank stat. of  salary a/c and saving a/c • Statement of all existing loan a/c (if any)   • Higher qualification certificate.

  7. Summary • Few Important points for Home Loan • Sanction Eligibility • Rate of Interest Factor Disbursement Eligibility • List of Documents required for loan

  8. Open House

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