Our Brochure

Welcome to cashcow.org.in Loan Brochure

What is a Home Loan?

Individuals can borrow a sum of money known as a personal loan for various purposes. For example, one can utilize a personal loan to consolidate debt, finance home renovations, or organize a dream wedding. Banks, credit unions, or online lenders typically provide personal loans. Borrowers must repay the borrowed amount over time, usually with interest, and may incur fees imposed by certain lenders for this type of loan.

Special Features of Home Loan:

• Home loans fall under the category of secured loans.

•The financier mortgages the financed property.

• Typically, home loans have a long-term nature.

• The repayment option for home loans can extend up to 20 years.

• The Interest Rates Are Low.

• Borrower Can Avail Tax Benefits.

• Property Can Be Jointly Owned

•The income of family members can be combined or clubbed together to qualify for a higher loan amount.

• Can Be Used For Investment Purpose.

How is my Eligibility Determined for a Home Loan?

• Documents required for a business loan in India are mentioned below. Each of these are essential for applying a business loan:

• Address Proof: Electricity bills, water bill, telephone bills etc.

• The Property Should Have A Clear And Marketable Title.

• Banks/financial institutions require the property to be funded to be approved before granting the loan.

• The Applicant Should Have A Stable Source Of Income.

• The Applicant Must Be At Least 21 Years Of Age

• Loan Tenor Is Determined By The Retirement Age Of A Person

• The Maximum Tenor Of A Home Loan Is 20 Years.

• Previous Credit History Plays A Vital Role In Sanctioning Of Loan.

• Loan Eligibility Depends On The Net Earnings Of The Applicant And The Repayment Capacity.

• Eligibility Would Also Depends On Valuation Of The Property .

• Spouse’s Income Can Be Added For Enhancing Loan Eligibility.