Home Loans

If I buy a house from my relatives, can I apply for a home loan for it?

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Yes, you can apply for a mortgage but you have to understand that it won’t be considered an “arms-length” transaction; defined as an agreement made by two parties freely and independently of each other, and without some special relationship, such as being a relative, having another deal on the side or one party having complete … Read more

What is the process to apply for a home loan In India?

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FOR OUTRIGHT PURCHASE OF A READYMADE HOUSE:  Quotation from seller Copy of title deeds Proof of income – salary slip/IT returns Bank statement for last 6 months Confirmation of employment letter from company, if you have been working for less than one year KYC documents NOC from builder/housing society FOR BOOKING A FLAT IN A … Read more

I have a housing loan going on for a house bought in 2015. Now, I am planning to sell that house. What will happen to the housing loan and what’s the process to transfer the loan?

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1.Your First Question what will happen to the housing loan? First, you go to your bank ask them to provide you outstanding loan amount and a list of documents (docs) you submitted to the bank when you taking the loan like sale agreement, NOC, share certificate, etc). Suppose your loan outstanding is Rs.10 lacs ( … Read more