It is easy to acquire a home loan in India. With the massive requirement and a developing economy, there are a large number of financial institutions which offer end users home loans to help them purchase their dream houses. However it is also worth pointing out that no one from these organizations reveals the real picture.
In the current markets, the number of lending institutions is large. The competition is cut throat and the success of an organization in such a market is dependent on sales. Therefore marketing plays a vital role in product offerings. This is the reason why an applicant finds no concrete details but all rosy pictures about a home loan; whether it is available online or from a marketing executive.
This is where housing.com can help. The portal has offered its home loan section which allows end users not only find home loan eligibility but also allows them to compare numerous plans and decide on one.
Housing Home Loan Edge
Let us assume that an end user has opted for one of the resale flats in Pune.Now this buyer is on a quest to find a home loan to complete the purchase. When using housing.com, he/she has to click on the section marked ‘Home Loans’ from the main page. The next page offers a button marked ‘Get Started’ and basics of the home loan along with a link to the home loan guide offered by the portal. Anyone who may have a doubt regarding the home loan planning can access this guide for free. It offers comprehensive information regarding all aspects of a home loan; whether it is opting for one or servicing one. There are tips that can help a pragmatic investor too.
When the end user clicks on the button ‘Get Started’, a page is revealed where the end user has to fill a form. This is the home loan eligibility calculator, the first step before an end user is able to apply for home loan.Details of earnings and loan type are required without any personal information. This form reveals approximately how much loan an end user eligible is for and how much EMI he/she would have to possibly pay.
However this information is variable. The amount is calculated on the basis of some established parameters which allow an end user to select the loan amount and the repayment time from a specified bracket. The EMI is ascertained accordingly.
Finding and Comparing Home Loans
On the basis of the information that the eligibility information listed, plans from numerous prime lending institutions of the country are listed on the same page. These details include processing fee, interest rates and all the vital information that matters in a home loan. The applicant gets to compare the plans and apply online. There is a button beside every plan that says ‘Apply Now’ which allows the applicant to apply for a loan online. He/she can also track the application from the portal.
It is vital that home loan plans be compared. As mentioned earlier on, deals may sound sweet but an end user who hastily obtains a plan may end up paying much more than what he/she should.
Housing.com allows end users to find numerous home loans from prime lenders. The portal has tied up with these lenders to help end users acquire the best available loan plans.