A home loan is a secured loan provided by banks and financial institutions to individuals for the purpose of buying or constructing a residential property. The loan amount, interest rate, and repayment tenure are determined by various factors such as the borrower's income, credit history, and the property's value.
Read moreReplied by Krishna Chadha On 4/7/2023
A processing fee for a home loan is a charge levied by the lender to cover the costs of processing the loan application. It is typically a percentage of th...
Replied by Shivakanta Chawla On 6/7/2023
The amount of a home loan you can get on a 15,000 salary is determined by a variety of factors, including your credit score, existing debts, and expenses. Lenders typicall...
Replied by Aushi Mahajan On 4/7/2023
In the context of home loans, LOD stands for Letter of Disbursement." It is a document issued by the lender to the borrower after the loan has been sanctioned bu...
Replied by Shobha Ray On 4/7/2023
Home loan EMI payments for under-construction properties typically begin after the project is completed or a certain period after loan disbursement, whichever comes first. During this period, which is commonl...
Replied by Priyaka Zacharia On 5/7/2023
A home loan in India provides several tax benefits to the borrower. Section 80C of the Income Tax Act allows you to deduct the principal repayment amount up to Rs...
Replied by Sookraj Chopra On 5/7/2023
To check the status of your SBI home loan application in India, log in to your account on the SBI website. Then, in the Track Your Application section, enter you...
Replied by Vyan Anand On 6/7/2023
ESBTR, or Electronic Secured Bank and Treasury Receipt, is a digital receipt generated in certain Indian states following the successful registration of a property transaction, including home loans. It serve...
Replied by Soumya Thakur On 4/7/2023
A pensioner can obtain a home loan. Many banks and financial institutions provide home loans to retirees who have a consistent source of pension income. The loan amount, on th...
Replied by Ritujeet Chandra On 6/7/2023
To transfer a home loan to another person, the existing borrower must notify the bank of the transfer request and submit all necessary documents, including a letter of consent fro...
Replied by Vir Dhillon On 5/7/2023
As a retirement savings instrument, it is not advisable to withdraw PF (Provident Fund) for a home loan. Withdrawing PF may result in a shortfall in retirement funds and ma...