a. |
Typically, housing
loan companies and institutions analyse your income,
age, number of dependents, monthly outgoings, etc.
to determine your repayment capacity and hence the
quantum of loan to be sanctioned. It is therefore
important to present a very clear picture. |
b. |
Normally a property
purchased becomes the security for the loan sanctioned
and is mortgaged to the lending institution. In
some cases to assist you in taking a larger quantum
of loan, the lending institution may insist on additional
security and / or guarantors. |
c. |
Normally if you have
given all the papers an institution does not take
more than 5 to 10 days to process your application
and sanction your loan. |
d. |
Most institutions
are willing to consider joint incomes of applications
in the case of joint application for deciding the
loan amounts. Some institutions do not charge a
co-application for paying co-owners of the property
being purchased.
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