A Home To Live And Fulfill Your Dream Goals

Mozam By Mozam, 9th Feb 2018 | Follow this author | RSS Feed
Posted in Wikinut>Business>Investment

No matter how much you and your parents emphasize on savings, there will be a point in life when you need urgent finance.

Loan against property Will Help You To Extend Your Business

It could be buying a new property, sending your kids abroad for higher studies, urgently need a medical treatment or getting your daughter/son married. Financial needs arise at every walk of life and you have to fulfill them with utter care if you wish to achieve your dream goals.

A proper financial assistance will help you to tide over. Though you can borrow from your family and friends, it all depends on the amount of funds you need. You don't want to put unnecessary financial stress.

The best way to achieve your financial goals would be taking a loan against home. It’s a mortgage loan against a property that is registered in your name. Such loans enable you to focus more on your interests, dreams, and achievement and so your financial aspects will be taken care off. Loan against property also helps you to expand your business.

With a booming real estate, banking and private housing finance companies have come up with several housing loans and loan against home options that help you buy property or secure other interest with ease. It helps you to achieve your home buying dream or other urgent needs with the help of loans.

There are several leading banks or leading private finance companies that are top players who offer loan at competitively loan interest rates and low processing fee. The turnaround time for this loan is very less compared to the new home application.
The loan eligibility depends on several factors such as location and value of the property, its age, number of dependents, your income source, additional income source, your business viability, and most importantly your credit score.

After a thorough evaluation of these factors, bank or private firms will sanction a particular loan amount. Ideally, they sanction around 65-70% of the property value.

There are many sites online that allow you to make a comparison of various aspects of your loan against home packages.

In this era of internet-based facilities, you don’t have to run pillar to post to borrow finance. At the comfort of sitting in your home or offices, you can compare the loan interest rates and features, fill up an application form, submit a scanned copy of documents and wait for just a couple of days to know the status of your loan.

An email will be sent to you regarding your status and you will be informed via SMS as well.

The best part is you can compare the interest rates of leading firms and banks, processing fees, EMIs and flexible repayment options, their terms and policies, etc. Most banks and financial companies have also taken a step ahead and introduced mobile apps through which you check your home loan eligibility, make EMI payments, track outstanding balance, the interest rate applicable on the remaining balance, your monthly installments, and more.

You can set an ECS from your bank and instruct to make a payment through these apps as well.

Loan against home is an excellent source of finance when a person is in dire needs of money, however, don’t want to fall into the trap of traditional financers who offer money at exorbitant interest rates and break the financial stability in near future.
The good thing is you can borrow money as well as enjoy the occupancy of your home.


Home, Home Loans, Loan, Loan Against Property, Property Loans

Meet the author

author avatar Mozam
Mozam Khan is a Profession blogger since 2015, He has been written and Publishing blog and article on home loan, home loan interest and finance services.

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