But getting this home is not easy.The property cost is going high day by day.Buying a home is just turning to be a dream for common man.You try hard,you work hard, but still the required money don't get collected,you pay on rents and all your hard earned money just goes into someone else pocket.Living on rent is not your wish, but its your only option.---------
But now most of new construction builders are providing a good option of home loan.The banks also trust this builders and provide loan to the home buyers.
On old construction building getting a loan is bit difficult, but on new construction building getting loan is quite easy.------------
The bank will ask you to pay the percentage of the actual amount of the flat cost.Some banks give 90 percent,some provides 85 percent,some provide 80 percent.etc etc.------
All this depends upon, what your document is.They require your IT return files.A minimum of 3 year IT return file is required.More then 3 years of IT return will give additional benefit.If you are a salaried person,working in a good company, then you get this loan quite easily,because bank has more trust on regular monthly salaried person.But if you are a businessman, then many of banks don't provide loan to business man.----------
" If you think deeply then this loan system is a good business FOR BANKS" but business man are not getting trusted by banks.
The banks trusts on salaried persons.Because bank has the exact information about the salaried persons income, but in business income can decrease and rise ,you never know.So banks fell it risky-------
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NOW coming to our main point that is home-loan.---------
You get loan from banks.Most of the bank provides home loan.But this loan is always not the good and simple option.Getting right loan is the time consuming option.You have get details from all local near by banks.Then match their details, match their percentages of interest and then decide from which bank you get best loan opportunity.-------
Some banks provide fixed interest, and some banks provide floating interest.
In both ways the bank will earn interest.In fixed interest the rate of interest remains same for particular years.But in floating interest, the rates will increase or decrease as per reserve bank rates of interest.
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Get proper details before getting into this loan.----------
Its said that" YOU RUN IN TO LOAN QUITE EASILY,BUT TO GET OUT YOU HAVE TO CRAWL HARD"
So take the loan only, if you have confident that you can pay the monthly down-payment to the bank.-------
The bank is two faced.----------
While giving loan they will talk to you so sweetly that you will jump up high and get the loan, but if you miss 2 or 3 monthly payments, then the other face will be shown to you.
But that is actually right,if you are not paying the monthly installment, then bank has to force you to pay the loan.--------- So its always advisable that take a loan as per your capacity.If you are capable of paying the required loan installments, then only go for it.--------
Before buying home, get the details of the place, where your home/ building is built,get the details of your builder.Proper read the paper of agreement.This agreement paper will be too long.There will be more then 100 pages.But i say, you waste your day and read the paper properly and understand each point very clearly.--------
Many of the time the buyer gets fooled in agreement, because builder knows that no-body will read complete agreement.-----
Sometimes the building is built in forest area/forest land and that is illegal building.So you will never get that home, because its illegal construction/ its illegal plot.
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Most of the home buyers live in a same home for years and years.So think thousand times, before you buy a home/house.--------- Because after you buy, then you cannot think.
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This is your hard earned money,which you have earned with lots of pain,honestly,struggle etc etc.so make a right choice.----------
So ......
get a loan from good reputed bank,
get a home from reputed famous and trusted builder,
get all details from local lawyer about the plot,the building and the near by area.
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There are online sites which provide good details about the loan
For UK loans, click the link below:---
For MUMBAI ,click the link below:--
more links:---
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THERE ARE MANY OTHER ONLINE SITES WHICH PROVIDES GREAT INFO ABOUT LOANS AND ITS BENEFITS.BUT I SUGGEST GET ALL DETAILS FROM YOUR LOCAL BANKS AND GET GOOD LOAN ADVISER,BEFORE GETTING INTO LOAN APPLICATION.-----
I WISH YOU GET YOUR DREAM HOME AND YOU SUCCEED IN YOUR LIFE .
GOOD LUCK.
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