Abt Home Loan? help meee..?
Answer:
Your making $12,000 a month and you want a home loan. You'll be able to afford almost anything you want at that. Call a mortgage company and they can work everything out for you. My nephew is from a very small mortgage group and he does nothing but loans all day. Stay with the small companies don't use a realitors mortgage company they won't figure your best out for you.
Documents usually require your tax returns for the last 2 years, any other loans you have and your bank accounts. You should have at least 6 months of salary in the bank just to prove your a good risk for the loan if your going for a large home of a mortgage payment of thousands of dollars.
one should have steady income ,for which income proof such as IT return, saralcopy, etc isa must since your yearly income is more than taxable income you should file income tax return by applying first for the PAN number through UTI or Karvy. Based on your income i.e repaying capacity the monthly instalment shuld not exceed 50% of the net income. in your case the monthly instalment should not not exceed Rs.6000/-i.e you can go for a loan of Rs.600000/- repayable within 240 months @9.5 %p.a floating rate is the best. You should submit the title deeds to the Bank who in turn through their lawyers scrutinise them and obtain legal opinion as to the clear marketable title based on these and value of the property bank will sanction/disburse 85 % of the value of the property as loan in case of newly constructed flat or to be constructed bunglow. one has to mortgage the same as per the laws prevalent in the state.
Your salary is 12000 p/m.,you have no IT return., how it is possible for you ? First approch a auditor, and file teh return and also apply fo rthe PAN.
in the meantime get the details for applying the HOME loan, in HDFC, LIC, or in any nationlsied bank, homeloan department
Definitely you can get above RS.3 lacs.
Hi - you can get a home loan - by using 12 month bank statements. Or if your credit is really good, you can do a no doc, where you will not need to report your tax information.
Contact a broker to help you.
Talk with a broker, a broker underwrites for many company's (I underwrite for 150 companies) so I only have to pull credit 1 time, and they look at my credit. A single lender (not a broker) has programs available, but they may not be able to help you and your situation, so you go elsewhere, and than that person pulls your credit (see what I mean.) If you shop, your credit is pulled and that is considered a soft pull, for a 30 day period. Just like shopping for a auto, it is good for 30 days. If you apply for a credit card, that is considered a "hard" pull and it drags down your credit score. When looking for a home, please do not apply for a credit card, Department Charge Card, Gasoline Card or make any major purchases, like a auto, etc. This will pull your credit down.
Try to find someone (broker) that will pull your credit one time, and submit your loan application to company's that will go off his credit report. By the way, a loan application is called a 1003, and they will issue you a GFE (Good Faith estimate, with-in 3 days, that is per the RESPA laws, and the TIL (Truth in Lending). The GFE will tell you the up-front closing cost associated with your loan. The TIL will tell you the terms, rate associated with your loan. This is a estimate only - not the final - but it does help you figure things out.
ask this question to any banker, who will issue your loan.
why you ask here in yahoo answer?
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