Monday 9 May 2011

Rise in Home Loans

RBI’s announcement about interest rates in home loans may create a negative impact on real estate developers. This will be a bad news for those people who are looking to buy house as loan. Banks like ICICI, SBI and IDBI indicated that they would also increase interest rates in near future. With high construction cost, sure this is a blow to real estate sector.

2 comments:

  1. This comment has been removed by the author.

    ReplyDelete
  2. The minimum criteria is the measure by which lenders begin their application assessment. It is only when these are satisfied that the matter of considering loan approval can begin. Getting a home loan with bad credit starts by establishing the fact that the applicant qualifies for Hawaii mortgage loans.

    Getting approval fast is a luxury afforded only to those who meet the four basic criteria. The first criterion is being over 18, while the second is confirmation that the applicant is a US citizen. The third is that the applicant has a reliable source of income that is sufficient to cover loan repayments.

    The fourth and final condition is relates to the provision of a down payment as part of the home loan application. This is important as a large down payment is convincing, while also reducing the size of the required mortgage. So purchasing the property becomes more affordable.



    ReplyDelete