Type of Loan
Home loan is the sum of money borrowed from banks or any financial organization to buy a house. The borrowed amount consist of fixed or variable interest payable over a specified period of time.
Loan Against Property:
Loan against property also known as mortgage loan, is a kind of loan where the borrower needs to mortgage its property to avail loan from bank or other financial institute.
Balance transfer of home loan is mostly availed to have a better interest rate(lower than the current interest rate). The balance transfer on an existing home equity credit can only be availed after a pre-determined period of time as mentioned on the first loan agreement
Need of borrower:
Understand the need of customer.
Lender shortlisting :
Depending upon the need of the customer, one or more than one lenders are shortlisted.
Arrangement of all the documents required for loan
Finalizing of lender:
Finalizing of the lender from whom loan to be borrowed
All the document are send for processing loan.
Loan amount is handed over.