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Tools & Calculators

Our tools can help you start planning the loan application . Try our calculators and discover how much you can afford today.

Important Point to Remember before Loan Application

What is a Home Loan?

A Home Loan is offered by banks to buy a property, to buy a residential plot, to construct a house, for extension/renovation of the existing house, and refinancing of an existing home loan.

Who can take a Home Loan?

Individuals: Salaried Individuals: Any individual who is in permanent service in any government undertaking or any reputed private sector company in India. Bank also offers loans to salaried Non-Resident Indians (NRIs) working with reputed companies in select countries.

Professionals: Professionals i.e. allopathic doctors, architects, chartered accountants, cost accountants, practicing company secretary, management consultants, and lawyers.

Self Employed: Individuals like traders, distributors, manufacturers, service providers etc.

Non-Individual Entities: Proprietorship Firms, Partnership Firms, Private Limited Companies, Public Limited companies.

How much is Home Loan Processing fees

Most Home Loan provider banks charge home loan processing fee, which can vary from Rs. 5000/- up to 1% of the loan amount. But you don’t worry our loan experts will get you the maximum possible discount on processing fees or even try to make it ZERO.

Also bear in mind that these processing fee costs can sometimes comprise of two fees. An increasing number of lenders charge a non-refundable processing fee which is effectively a loan application fee. You won’t get back this back if you end up not taking the Home Loan and even loan application rejection due to low Cibil score, Loan to Value ration or your financial eligibility.

The second type of fee is a processing fee that you pay on completion of the Home Loan so you won’t have to pay it if, for any reason, you don’t take the Home Loan.

There are banks that charge legal and technical valuation fees in addition to processing fees.

Remember to always include these costs, as even if a lender is offering a seemingly unbeatable rate, higher fees could mean that it actually works out to be more cost-effective to opt for a higher rate of other banks, but with a much lower fee, or no fee at all.

It will all depend on how much you are looking to borrow. A high fee is often worth paying in order to secure a low-interest rate if you are applying for a large Home Loan. But those with smaller Home Loans

How much can I borrow?

Get a quick estimate of how much you may be able to borrow based on your current income and existing financial commitments. You have to fill the above form to get your home loan eligibility calculated. You can also check your estimated home loan eligibility using our home loan eligibility calculator.

The bank disburses your home loan as per the following terms and conditions:-

• 90% of Property Value if Home Loan amount is less than 30 Lakh
• 80% of Property Value if Home Loan amount is less than 30 Lakh but less than75 Lakh
• 75% of Property Value if Home Loan amount is more than 75 Lakh.

could be better off opting for a higher rate and lower fee.

Can I Buy Property on Joint Name

Yes, you can buy property in a joint name but both owners have to be a first family member and will have to be loan applicant and their credit score will be considered while processing your Loan Application. In addition to credit score, their financial eligibility will also be calculated to offer them the financial sanction against their monthly income.

Cibil Score for Loan Approval

Banks offer Home Loan based on your current property Valuation and your financial eligibility. In addition to this, Banks will also check your cibil score and it has to be more than 650. In case you don’t have any idea about your current cibil score, connect with us Our team is ready to help you.

What else you need to consider when looking for a Home Loan?

Home Loan term: Most people opt for a 25-year term when they take their first Home Loan out. However, you can go for a longer or shorter period of time. If you go for a longer-term, your repayments will be lower but it will take you longer to pay off your home loan & you will be paying more interest on home loan as compared to a shorter period. The shorter the term, the sooner you’ll be Home Loan free. So go for the shortest term if you can pay home loan EMI comfortably.

And when you opt for Home Loan Balance transfer, remember to reduce the term on the new home loan that you apply for. For example, if you transfer your existing home loan to another bank just to avail the lowest interest rate offer. You should keep your installment amount the same as current EMI, this will help you reduce your loan term and you will be saving the number of EMI and interest outgo.

Home Loan Part-Payment and Foreclosure Fees

As of today, many Home Loan provides does not charge any part-payment and foreclosure fees on home loan running on floating rate of interest.

But, banks are allowed to charges part-payment and foreclosure charges on home loans running on a fixed rate of interest and home loan availed by any company or firm.

For example, if you have a home loan running on floating rate and you decide to pay off the entire outstanding amount of Rs. 34,50,000/-. Given this bank will not charge any pre-payment penalty but you will have to pay interest till realization of your payment. In other cases of fixed home loan interest, you will have to pay up to 2% of the outstanding amount i.e. Rs. 69000/-.

How to find the best deal

Finding the right Home Loan to suit your needs can be a challenge, especially with so many different offers available.

This is where Home Loan DSA can help. Our Home Loan comparison service covers the entire market, and, once you’ve answered a few simple questions, it can help search a better product as per your requirement. Our team will do all the leg work for you and get you the best possible deals to meet your home loan requirement.

If you need independent advice, then we have got a very experienced Home Loan advisors who can talk you through the range of available options, and help you through the application process once you’ve decided on the best Home Loan for you.

Calculate Your Loan Eligibility

We suggest you must get your home loan eligibility checked. You may also apply for a pre-approved loan before the property search. This will put you in a stronger position as a buyer. Bank will also assess the valuation of the property you choose, to ensure they feel the price agreed is in line with the market value.

Can’t find what you’re looking for?

The Home Loan Agents in Hyderabad will help you with The Best

Home Loan Rates | Special Offers | Loan Eligibility