A home loan is a sum of money borrowed from a financial institution or bank to buy a house. Many mortgage companies, commercial banks, and private banks offer home loans that allow you to borrow money to buy a house and pay it back in monthly installments. Depending on the needs of the borrower, the interest rate on a home loan can be fixed or variable, or partly fixed and partly variable. Certain tax benefits are also available for home loans under Section 80EE of the Income Tax Act. However, only first-time home buyers are eligible for income tax deductions on home loan interest.
In India, obtaining a housing loan involves several complicated steps for the applicant prior to the digitization of banking. However, with the online method, the process of saving a mortgage is now not only easier, but also faster. Your loan will be repaid in just a few days.
Home Loan Main Features
When you apply for a home loan, here are all the features you will unlock yourself:
- Borrowers who meet all eligibility requirements can obtain a home loan to purchase the property of their choice.
- Shubham offers salaried and professional borrowers competitive home loan interest rates to manage their total borrowing costs.
- Take up to 30 years to pay off your home loan to manage your personal financial goals and loan payments.
One of the main advantages of applying for a home loan with us is our fast loan approval. Once your application is completed and reviewed by us, it only takes us 24 hours to approve your application. What's more, you will get the money in your account in just 48 hours from the moment of approval.
To apply for a home loan, the first step that must be done is to fill out a mortgage application form. You can fill out application forms on our website i.e., www.shubham.co. To apply for a home loan from Myloancare.in, do the following:
- You can apply for a home loan online by filling out a form with personal information and detailed loan terms, which include:
o Occupation - working / self-employed
o Type of loan – new loan/balance forwarded
o Full name
o Mobile number
o Monthly Net Income
o place of residence
o Loan Amount
After doing all the formality, you can get the details about your home loan eligibility and home loan calculator.
