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HOUSING LOAN THRISSUR

HOUSING LOAN IN THRISSUR


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Housing Loans Thrissur

Welcome to our CFC website, where we are committed to providing you with the best housing loan options in Thrissur, Kerala. Whether you are looking to buy your first home, upgrade to a larger home, or renovate your current home, we have the right loan solution for you. Our website offers a variety of housing loan options with competitive interest rates and flexible repayment terms to suit your needs. Whether you’re looking to purchase a new home, renovate your existing home, or construct a new home, our agency can provide you with the financing you need to make it happen. We understand that buying a home is a major investment, and our team of experienced professionals is here to guide you through the entire loan process, from application to approval. Visit our website today to learn more about our housing loan options and how we can help you achieve your dream of homeownership in Thrissur.

At our housing loan agency in Thrissur, we are committed to helping you achieve your dream of homeownership. We understand that buying a home can be a daunting task, which is why we offer a variety of loan options to suit your specific needs. Whether you’re a first-time homebuyer, looking to upgrade to a larger home, or wanting to renovate your current home, our agency has a loan solution for you.

Housing Loan Thrissur- Repayment Terms & Interest Rates

Welcome to our CFC website, where we are committed to providing you with the best housing loan options in Thrissur, Kerala. Whether you are looking to buy your first home, upgrade to a larger home, or renovate your current home, we have the right loan solution for you. Our website offers a variety of housing loan options with competitive interest rates and flexible repayment terms to suit your needs. Whether you’re looking to purchase a new home, renovate your existing home, or construct a new home, our agency can provide you with the financing you need to make it happen. We understand that buying a home is a major investment, and our team of experienced professionals is here to guide you through the entire loan process, from application to approval. Visit our website today to learn more about our housing loan options and how we can help you achieve your dream of homeownership in Thrissur.

We believe that everyone deserves a safe and comfortable home, and our mission is to make that dream a reality for you. So, if you’re looking for a reliable and trustworthy housing loan agency in Thrissur, look no further than CFC. The loan amount, interest rate, and repayment terms of the loan depend on various factors such as the borrower’s credit score, income, employment status, and the value of the property. Typically, the loan amount can be up to 80-90% of the property’s value, and the repayment tenure can range from 5 to 30 years. The interest rate on housing loans in Thrissur may vary from one bank to another, but it generally ranges from 6.5% to 10%. Some banks also offer special interest rates for women borrowers. Borrowers may be required to provide documents such as property papers, income proof, identity proof, and address proof, among others, to apply for a housing loan in Thrissur. The loan application process typically involves a thorough verification process by the lender, after which the loan is approved and disbursed.

Features of Housing Loan Thrissur

If you’re planning to buy a house in Thrissur, Kerala, a housing loan can be the perfect way to finance your dream home. At our housing loan agency Thrissur, we offer a range of features to make your home-buying process as smooth and hassle-free as possible. Here are some of the features of our housing loans in Thrissur:

  1. Competitive Interest Rates: We offer competitive interest rates on our housing loans in Calicut, which means you can save a lot of money on interest payments.
  2. Flexible Repayment Options: We offer flexible repayment options so that you can choose the one that best suits your financial situation. You can choose from fixed or floating interest rates, and we offer repayment periods of up to 30 years.
  3. Quick and Hassle-Free Approval Process: Our online application process is quick and hassle-free. You can apply for a loan from the comfort of your own home, and our loan experts will guide you through the entire process, from application to approval.
  4. Expert Advice: Our team of experienced professionals is always available to offer you expert advice on your loan options. We understand that buying a house is a significant investment, and we want to make sure that you make an informed decision.
  5. No Hidden Charges: We are transparent about our charges, and there are no hidden fees or charges when you take a housing loan from us.
  6. Loan Insurance: We offer loan insurance to protect you from any unforeseen events that might make it difficult for you to repay the loan.

At our housing loan agency in Thrissur, we strive to provide you with the best possible features so that you can buy your dream home without any stress or hassle.

Eligibility – Housing Loan Thrissur
Eligible Age (Min-Max)The applicant’s age should be minimum 24 years and maximum 60 years at the time of applying for a home loan if the applicant is a salaried employee.
Eligible IncomeSalaried applicants should have a minimum monthly income of ₹25,000 per month in a metro city, and a minimum monthly income of ₹20,000 in other cities.
Minimum Loan AmountThe salaried applicants can avail a personal loan starting from ₹100,000, based on their eligibility.
Maximum Loan AmountThe salaried applicants can avail a personal loan up to ₹35 Crores, based on their eligibility.
Eligible City180 Cities across India.
Co-applicantNot mandatory, but only immediate family members can apply as a co-applicant.
EmploymentThe salaried employees should have a minimum of 2 years of total work-experience, and at least 6 months in the current company.
CIBILRequired (750-900)

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Documents Required for Housing Loan Thrissur
  • Salary Certificate in Company Letter head /6 months pay slips
  • Copy of Job Contract, Passport and Visa
  • One year bank statement in which salary is credited
  • NRE bank account statement one year (Local bank)
  • Qualification Proof (if professional)
  • Job ID card
  • Pan card, Adhaar card
  • Co-Applicant Details (Photo, ID ,Address proof )
  • Two year income tax return (except gulf NRI’s)
  • Loan sanction letter & loan track (starting to till date)
SALARY CLASS
  • Salary Certificate in Company Letter head /6 months pay slips
  • Copy of Job Contract
  • One year bank statement in which salary is credited
  • Form 16 , ITR and computation (2018 and2019 march)
  • Qualification Proof (if professional)
  • Job ID card
  • Pan card, Adhaar card
  • Co-Applicant Details (Photo, ID ,Address proof )
  • Loan sanction letter & loan track (starting to till date)
PROPRITORSHIP
  • 3 years ITR .computation and Balance sheet
  • One year bank statement (S B a/c, C A a/c, O D a/c )
  • Local body licenses/ GST regi, MSME, Pollution, food and safety, export and import license (submit if you have)
  • Loan sanction letter
  • Loan track (starting to till date)
  • Business profile
  • Rental agreement (shop, godown )
  • Other loan details, loan track, loan closing letter
  • Photo , Pan card ,election card , Driving License, Ration card (h/w)
  • GST monthly return(April 2019 to till months)
  • Two year GST. Annual return
COMPANY/ PARTNERSHIP/TRUST
  • Company memorandum and articles / Partnership deed/ trust deed
  • Registration certificate
  • Pan card
  • Three years ITR ,computation and Balance sheet
  • One year bank statement (S B a/c, C A a/c, O D a/c )
  • Local body licenses/ GST regi, MSME, Pollution, food and safety, export and import licence……etc (submit if you have)
  • Business profile
  • GST Annual return (2018 march . 2019 march)
  • GST Monthly return (2019 Aril to till month)
  • Two year ITR, Computation, one year bank statement(Directors/ partners/ trust)
  • Directors: other loan details, loan track, loan closing letter
  • Photo , Pan card ,election card , Driving License (directors/ partners/ trust)
  • Loan sanction letter
  • Term loan statements(starting to till date)

Property details

  • Document of the property
  • Prior documents
  • Encumbrance certificate for last 30 years
  • Possession and non attachment certificate
  • Land tax receipt
  • Building tax receipt
  • Location sketch and certificate
  • Approved Building plan and permit
  • Estimates( construction/ repair and maintains )
  • Sale agreement copy(purchase )

FAQ’S – Housing Loan Thrissur

How will your bank decide your housing loan eligibility?

Your bank will assess your repayment capacity while deciding the housing loan eligibility. Repayment capacity is based on your monthly disposable / surplus income, (which in turn is based on factors such as total monthly income / surplus less monthly expenses) and other factors like spouse’s income, assets, liabilities, stability of income etc.

The main concern of the bank is to make sure that you comfortably repay the loan on time and ensure end use. The higher the monthly disposable income, higher will be the amount you will be eligible for loan. Typically a bank assumes that about 55-60 % of your monthly disposable / surplus income is available for repayment of loan. However, some banks calculate the income available for EMI payments based on an individual’s gross income and not on his disposable income.

The amount of the loan depends on the tenure of the loan and the rate of interest also as these variables determine your monthly outgo / outflow which in turn depends on your disposable income.

What is an EMI?

You repay the loan in Equated Monthly Installments (EMIs) comprising both principal and interest. Repayment by way of EMI starts from the month following the month in which you take full disbursement.

How does tenure affect cost of home loan?

The longer the tenure of the loan, the lesser will be your monthly EMI outflow. Shorter tenures mean greater EMI burden, but your loan is repaid faster. If you have a short-term cash flow mismatch, your bank may increase the tenure of the loan, and your EMI burden comes down. But longer tenures mean payment of larger interest towards the loan and make it more expensive.

Can you repay your home loan ahead of schedule? Is pre-payment of loan allowed?

Yes, most banks allow you to repay the loan ahead of schedule by making lump sum payments. However, many banks charge early repayment penalties up to 2-3% of the principal amount outstanding.

Prepayment penalty may vary according to the reasons and source of funds – if you obtain a loan from another bank for pre-payment the charges are usually higher than when you pay from your own sources. However, you may credit more than your EMI amount into your loan account on a periodic basis and bring down your interest burden as and when funds are available with you.

Most banks do not charge a pre-payment penalty if you deposit more than your EMI payable on a periodic basis.

Housing Loan in Thrissur

CFS – housing loan Thrissur, we are committed to helping you achieve your dream of homeownership. We understand that buying a home can be a daunting task, which is why we offer a variety of loan options to suit your specific needs. Whether you’re a first-time homebuyer, looking to upgrade to a larger home, or wanting to renovate your current home, our agency has a loan solution for you.

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