Home loans in Pune
Mahima Consultancy Services offers various home loans in Pune. Apply now and get best home loans in Pune at very attractive interest rates.
Every individual strives to purchase property – either to fulfill the dream of possessing a home, or as a safe form of investment. Whatever the case, and whatever type of property – under-construction, ready possession, resale – we can help with financing it with the best available terms and rate of interest.
Property Finance is a secured Loan, where the property is mortgaged with the Bank or Financial Institution for the duration of the Loan. Loans are given to individuals based on income documents, for both Salaried as well as Business persons. Depending on various factors like Financial standing and repayment capability, the amount of Loan and the rate of interest vary between individuals.
We ensure that our Customers get the best deal in terms of tenure, Loan amount, as well as the rate of interest. This gives you the opportunity for you to own your property, and for us to provide satisfaction.
Home Loan FAQ
Q. What is Home Loan ?
A. The word Home Loan means when you are eager to shift your own residential property or want to invest in real estate & taking a loan for the same.
Q. Can I get an in-principle / Pre-Approval Letter and actually avail of the loan later ?
A. Surly, In-principle / Pre-Approval letter can be issued to you based on your income. After receiving letter you can plan your budget for property.
Q. What is the validity of this letter ?
A. Validity of an In-principle / Pre-Approval letter varies from 30 days to 90 days, depending upon bank to bank.
Q. What are the time line to process a loan application ?
A. In Retail loans 7 working days once documentations are completed
Q. Is it possible to apply jointly with spouse or other blood relative?
A. Surly joint application can be processed but decision varies bank to bank.
Q. What security do I have to furnish?
A. Since this is a housing loan thus bank requires a mortgage of the property for which the loan is being taken.
Q. What are the processing fees charged by the bank?
A. Processing fee in housing loan varies bank to bank, normally it’s start from 5000.00 to 0.50% of loan amount.?
Q. What is EMI?
A. EMI stands for Equated Monthly Installments. This installment comprises both principal and interest components. EMI is based on the loan amount, rate of interest and the repayment period.
Q. How much is the loan tenure?
A. In Home Loan bank do offer loan from 5 yrs to 30 yrs which varies bank to bank & age of the borrower.
Q. Can I prepay the loan? Are there any penalties?
A. Surly Part-Payment & Prepayment in housing loan can be done at any stage. There is no Part-Payment & Prepayment penalty applicable if loan is on floating rate of interest. If loan is on fixed rate of interest then Part-Payment & Prepayment charges varies from 1.00% to 2.00% bank to bank.
Q. What is the benefit of taking bank loan if even I have enough money to buy a property at my own ?
A. Taking a bank loan is always advisable as it gives you various benefits as below …
1. A Housing loan as it would enable you to get tax exemptions as per Income Tax rules.
2. A Housing Loan can be given by a bank only after all the due diligence of legalities of property so you are always secured in term of property.
3. A Good Loan track record makes bank more comfortable to fund you in case of big requirement in future