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Process of Home Loan sanction in India | Realtytree.in Experts
Buying a house needs a lot of planning such as
deciding the location of the house, arranging funds, etc. Once the house that
you plan to buy has been finalized, you need to ensure that you have sufficient
amount of funds to be paid to the seller of the house.
- Before filing for a home loan it is very important
to know about the market thoroughly. Once the documents are submitted, a home
loan is sanctioned after going through a lot of parameters.
- The bank will evaluate the loan application and
then decide whether to pass the loan or not.
- The bank checks all the information including your
residential address, your employment details, and your personal details, etc. If
the bank is not convinced about your credentials, then your application can be
rejected and if they are satisfied then they sanction your loan.
- Once the bank has gone through all the checks and
formalities and the loan has been sanctioned, the bank sends you an offer
letter mentioning the details of your home loan.If acquiring home loan is not
planned well then it can be a very intimidating and laborious task.
