UNX News Magazine
  • Home
  • Business
  • Education
  • Finance
  • Health
  • Home
  • Real Estate
  • Shopping
  • Sports
  • Tech
  • More
    • Auto
    • Law
    • Travel
No Result
View All Result
  • Home
  • Business
  • Education
  • Finance
  • Health
  • Home
  • Real Estate
  • Shopping
  • Sports
  • Tech
  • More
    • Auto
    • Law
    • Travel
UNX News Magazine
No Result
View All Result

What are the most important questions to be asked to a home loans officer?

Hailey Cady by Hailey Cady
1 year ago
in Home
0
What are the most important questions to be asked to a home loans officer?
0
SHARES
20
VIEWS
Share on FacebookShare on Twitter

Taking a home loan is a very important decision for an individual, along with purchasing the property. Home loans should be taken care of by the right lender as later; it should not cause any problem to the borrower. The borrower should check with the reviews of the lender and accordingly should decide on the choice of the lender. Choosing the wrong lender can lead to shelling out more money as hidden charges to the borrower. Loans can be taken from any of the lenders; it is not necessary that the applicant have a bank account in a particular bank to take the loans from them. The applicant can check for the interest rates charged by the lender on the finance portal website before applying for the loans. The loans are charged in any range from 6.50% per annum to as high as 18% per annum. Thus there is a drastic difference between the interest rates being charged by the various lenders. The interest rates are based on the repo rate, which the RBI decides; however, some lenders continue to charge higher interest rates on the home loans as they have a liberal approval policy towards the sanctioning of loans.

The applicant of the loan should check for the terms & conditions thoroughly before signing the loan agreement. The words written in the small fonts should especially be read carefully as the chances of getting misled is high in case of the agreement with certain words in micro-font. The borrower should make a list of a questionnaire for the list of questions to be asked to the bank officer before the loans’ sanction and should confirm that the same things are mentioned in the agreement. The loan tenure approved maximum is 30 years, but the actual tenure of the loan depends upon the borrower’s age. The maximum limit up to which the loans can be approved is Rs.3 crore. The sanctioning of the loans depends upon the salary of the borrower. The EMI calculator helps to know the eligibility of the loans for approval. The installment to be applied should be checked before the approval of the loans. The installments chargeable on a particular amount of loans can also be checked on the EMI calculator.

Following are the questions which are required to be asked to the banking officer before taking the home loans:

  • According to my salary, how much loan am I eligible to take?
  • According to my age, how much tenure for the loans can be offered to me?
  • What are the best interest rates which you can offer to me?
  • What would be the due date for the payment of the loans?
  • How much will I have to pay you the repayment value along with interest for the loans?
  • Does your bank charges a pre-payment penalty on the loans? If yes, how much?
  • If the pre-payment charges are not applicable, then, in that case, does the bank provide a rebate on the loans?
  • What is the penalty being applied in case of the delay in payment of installments?
  • Are there any hidden charges beyond the ones like processing fees & interest repayment?
  • How much would be the processing fees being applicable?
  • What are the multiple payment options being available for the repayment of the loans?
  • How much tax benefit can I avail of on the loans in case of obtaining loans?

Thus asking the following questions is necessary for the approval of the loans. There could be multiple other questions that may be asked to the bank official in case of availing of loans. The applicant should verify all the details thoroughly and confirm the same, which should be mentioned in the agreement.

Previous Post

Hemp Oil Products: A Helpful Guide on Hemp-based Treatments

Next Post

How to Lower Your Plumbing Costs?

Related Posts

Steps Involved To Remove Or Remediate Mold In Home

Steps Involved To Remove Or Remediate Mold In Home

December 6, 2022
Refresh Your Bathroom with Stylish Touches

Refresh Your Bathroom with Stylish Touches

December 3, 2022
How to Beat the Heat and Still Look Beautiful

How to Beat the Heat and Still Look Beautiful

December 2, 2022
The Advantages of Living on a Ranch

The Advantages of Living on a Ranch

December 2, 2022
Benefits of Investing in a Professional-Grade Water Treatment System

Benefits of Investing in a Professional-Grade Water Treatment System

November 25, 2022
Easy Ways to Make Your Home Healthier

Easy Ways to Make Your Home Healthier

October 27, 2022
Next Post
How to Lower Your Plumbing Costs?

How to Lower Your Plumbing Costs?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Top Stories

 Alex Blackwell: Australian Cricketer With Top Talent

 Alex Blackwell: Australian Cricketer With Top Talent

February 2, 2023
The Cricket Bettor’s Guide to Making Wise Bets With These Valuable Tips

The Cricket Bettor’s Guide to Making Wise Bets With These Valuable Tips

February 2, 2023
How to improve your trading skills

How to improve your trading skills

January 13, 2023
Gambling

 Alex Blackwell: Australian Cricketer With Top Talent

Alex Blackwell, a notable batswoman for both New South Wales and Australia, was born on August 31, 1983. She is ...

February 2, 2023
Sports

The Cricket Bettor’s Guide to Making Wise Bets With These Valuable Tips

Introduction Cricket betting can be fun and profitable if you make smart bets. You can make money by betting on ...

February 2, 2023
Finance

How to improve your trading skills

Are you looking to improve your trading skills? Whether you are a day trader, swing trader, or just starting in ...

January 13, 2023
News

How to Keep Your Restaurant Hood Clean

As a restaurant owner, it's important to keep your hood clean and grease-free. A dirty or greasy hood can cause ...

December 9, 2022
Business

Managing Good Debts: Strategies for Better Money Management

Taking on debt doesn't always have to mean falling into a long spiral of bad credit and high-interest rates. In ...

December 6, 2022

Recent Posts

  •  Alex Blackwell: Australian Cricketer With Top Talent January 19, 2023
  • The Cricket Bettor’s Guide to Making Wise Bets With These Valuable Tips January 16, 2023
  • How to improve your trading skills January 13, 2023
  • How to Keep Your Restaurant Hood Clean December 9, 2022
  • Managing Good Debts: Strategies for Better Money Management December 6, 2022

Archives

  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • May 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019

© 2020 UNX News Magazine - All Rights Reserved.

  • Get support

No Result
View All Result
  • Get support
  • Home Layout 1

© 2020 UNX News Magazine - All Rights Reserved.