Home loan is a secured loan given to individuals who aspire to build or buy a house. The property so purchased is mortgaged in the name of the lending institution as security, till the time the loan is fully repaid.
The lending institution will hold the original property related documents till the time the loan is fully repaid along with the interest.
To buy a house, be it under construction, ready or resale property, the residence buyer can seek for loan from banks or financial institutions through financial advisors or home loan agents.
It should be noted that the terms and conditions of the housing loan can differ widely in terms of loan amount, maturity period, interest rate, repayment mode, etc.Sasmita Bussiness Solutions has been working in this arena for several years as home loan advisors and home loan agents. We have expertise in identifying the banks and institutions that offer the loan on most friendly terms.
Home Loan FAQ
Home loans are long term borrowing instruments with a minimum tenure of 5 years and a maximum tenure of 30 years. The tenure offered to you for your personal loan depends on the loan amount that is sanctioned to you by the lender along with other factors.
Anyone — whether self employed or salaried individuals/professionals — with a regular source of income can apply for home loans. One must be at least 21 years old when the loan period begins and should not exceed an age of 65 years when the loan ends or at the time of superannuation. This is the generic eligibility criteria and specifics such as the minimum and maximum age limits, minimum income level, etc. may differ from one lender to another.
You can apply for a loan in the following ways:
Fill in the online details and our representative will get in touch with you
Call one of our Phone Banking numbers provided on the website
Visit your nearest branch
Our existing liability customers may also get in touch with their Relationship Managers/ Personal Bankers to know more and apply for home loan
