KNOW HERE ALL CHARACTERISTICS AND ELIGIBILITY CRITERIA OF HOUSE LOAN Everyone has a dream to live in his own home with his family, but buying house now a day is not a cup of tea to everyone. Dearness is increasing rapidly these days and source of income is low. So, how a middle class family can buy their own house? This is the matter of thinking. Now a day it is very difficult to maintain household expenses as well as children education expenses. We have forgot the word ‘saving’. There may it is too difficult to buy own house. What do you think? Will you able to buy your own house? I know you answer will be No. Don’t be sad, now you will able to buy your own house with house loan. There are many financial institutions or banks offer home loan on very easy EMI which will come on your budget. Before buying this policy you should compare first that which policy is for you and fulfill your requirements. Where should we compare our policy? Moneyzguru is a unique platform where you can compare home loan policy in a very convenient way. No need to do go here and there in this beating sunlight, stay at your house open your system, log on to our website and couple of click by your mouse are enough to buy the best policy for you. You only need to take appointment from our executive and all the procedure will be done by our executive at your doorstep. Make your dream fulfill with Moneyzguru. Let’s see all the characteristics and eligibility criteria. House Loan Characteristics Here we have counted distinctive points of it to help you comprehend policy in a well manner. While giving a policy, the bank utilizes your property (house) with a specific end goal to secure the loan. Because of utilization of your house as insurance, house loans are secured loans that include a low level of hazard for the bank. In the event that the borrower can’t pay the loan it any reason, the money lender can lawfully sell your property to recover the extraordinary loan sum. Being a secured loan, home loan financing cost is nearly lower than an unsecured loan. The measure of this policy can differ in light of your salary, financial record, the territory/city you are arranging the buy in and different variables. You can apply for a house loan mutually with your mate, relatives or others as co-applicants. House loans more often than not have longer reimbursement residencies and extents from 5 years to 30 years. The reimbursement day and age for a home loan is settled at the time you apply for it. Prepayment of it policy should likewise be possible. Some house loan suppliers charge a prepayment expenses for the policy while others don’t. Along these lines, house purchasers ought to contrast it accessible with locate the best policy offers. HOUSE LOAN ELIGIBILITY CRITERIA Home loan qualification incorporates the model this policy applicant needs to fulfill so as to be qualified for a house loan. Each bank has distinctive house loan qualification criteria however they judge the loan applicant’s believability in view of some regular criteria, for example, age, wage, work involvement and financial record. The criteria concerning qualification for this policies have a tendency to shift starting with one bank then onto the next. Taking after are some key necessities to be thought about: Target Group: Any salaried, independently employed or proficient individual of Indian nationality can apply for it. Age Criteria: This applicant must be matured 21 years or above Income Criteria: The applicants needs a consistent wellspring of wage to enhance the odds of standard reimbursement. Having a consistent pay source assists the loan supplier with assessing the borrower’s reimbursement limit. For independently employed people, benefit earned by you significantly decides the lodging advancement esteem you are qualified for. Business Experience: The applicant’s expert soundness documentation, all the more absolutely it is the work involvement of the applicant. Record as a consumer: Loan history is another significant central component for profiting a lodging loan. A spotless record as a consumer will help in speedy endorsement. You can check whether you are eligible for this policy or not using Moneyzguru’s eligibility calculator and know all the eligibility criteria for it policy.