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Guaranteed HDFC Home Loan Approval

By Moneylaxmi Subscribe to RSS | March 29th 2012 | Views:

An own home is something to which people attach their emotions for a lifetime. It is not just a pile up of concrete and bricks. It houses the owner’s value and long cherished dream that ultimately turns into reality upon its erection. However, not many find it easy to realize their dreams of owning a home. With real estate prices shooting up, prospective home buyers are often left in lurch given the wide variety of home finance options at their disposal.

As financial institutions and lenders roll out a new plan every other day enticing customers with multiple options, hdfc home loan scheme continues to make its mark in the market by providing the best possible deal. The country’s leading financial lender, hdfc provides customized solution to the prospective home buyers, thereby winning many hearts and inspiring confidence among them. Approval of loan even before the property is finalized, the bank’s loan approval process involves simplified documentation, speedy processing as well door step services. Such a host of facilities is accompanied by step by step counseling at each stage, thus alleviating doubts from customers’ mind.

Once the customer is thorough with the nitty-gritty of the loan process, the procedure of getting a home loan can be kick started without any delay. hdfc home loan schemes are celebrated for their flexible payment options, easy documentation and wide range of options that goes well beyond home loans just for fresh properties. Also, the bank takes utmost care in discharging its social responsibility by checking the credit worthiness of each applicant, making sure there is no ‘2008 crisis’ repeat. For each application for home loan received, the bank uses its hdfc home loan eligibility mechanism to ascertain the applicant’s credit worth and the maximum amount of loan value he is eligible for.

To arrive at the figure of maximum loan amount eligible, the bank may ask for details like applicant’s income, employment status(salaried or self-employed), age, interest rate charged by the bank and tenor, existing obligations, repayment history etc. Also, the bank provides an online interactive tool – hdfc bank home loan eligibility calculator, giving the customers the convenience to ascertain their eligibility while sitting at home. However, there are some basic eligibility criteria that one needs to fulfill in order to strengthen his loan approval chances.

They are as follows:

• The applicant has to be at least 21 years of age at the time of loan sanction.

• Applicant can be a salaried individual or self-employed individual with a regular source of income.

• Termination of loan at the age of 58-60 years of age for salaried applicant and 65 years of age for self-employed individuals.

• Also, valuation of the proposed property is considered as one of the crucial parameters.

In case of co-applicants, the minimum age should be 18 years. Also, in case of spouse, income can be clubbed. hdfc bank home loan scheme is known for its flexibility, speedy approval, easy processing, thus becoming the preferred financial lender among customers.

Moneylaxmi - About Author:
Moneylaxmi is the fixed financial portal in India. Thus the writes article on hdfc home loan, hdfc home loan eligibility, hdfc home loan schemes and much more about home loans.

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