Everyone desires to have a house. Having own home is a dream come true and an outstanding achievement of life that gives peace of mind and joy.
But how to have it?
A home loan is a partner that can help you to achieve early.
Let us take a tour of buying our own house.
Buying a house requires a large amount of fund, which can be accumulated by following a long term investment plan or selling some existing assets.
But following a discipline in investment can create a corpus for buying a house, or it also helps to make down payment/margin money when approaching for a home loan.
Partnering with a reliable financer to finance buying a dream home is an excellent and popular idea. They allow lots of flexibilities in repayment, interest, foreclosure, government subsidies, and the longest tenor in home loan terms with flexible EMI.
It also enables extra tax savings.
Buying a house with self money is one of the most outstanding achievements of life. Still, it is an investment of a significant amount that may or may not possible without having comprehensive financial planning.
Starting an investment with a vision of creating a corpus to meet a specific financial goal at the beginning of a job or the early age of 25 is an excellent idea. Buying a home must be one of the objectives. The early started Investment is more advantageous due to the compounding interest effect of a long holding period. Compounding interest applies to the interest of interest. A small contribution of regular investment stands at a more excellent value if the holding period is extended; therefore, the longer the investment period, the more excellent value of the investment. Investors must set a financial goal and start investing patiently until the time of achievement of the goal is met.
Financial Industry is an ocean of schemes, options, investment objectives, holding tenor, nature of procedures, tax treatment etc. which may pose a challenge to the investors; below is a model that may help you make decisions.
Arrival into the right amount of investment is based on the corpus required to achieve the investor's goal, Economic, Risk appetite, and General profile of the investor.
Here are a few advantages of having a corpus for buying a dream home:
Goal-based investment planning entirely based on the Economic, Social, General, Age, Risk, Tax etc., in the investors profile. These days have commonly seen that many media platforms present different types of schemes, growing significantly faster, etc. basically, these platforms unaware of investors profile and not accountable and traceless. Therefore we strongly recommend investors create a comprehensive financial plan, choose the desired schemes with the help of a local professional and stick to the plan. Having a review meeting concerning the investment objectives will lead to a better direction.
Our comprehensive financial service distribution portfolio considers every aspect of the investors and serves GUWAHATI and SHILLONG with a physical office and virtual presence.
A home loan is a typical way of buying a home in the present days. A home loan helps to buy a home in the middle of the ages if supported by the job or income profile and margin money. An NRI also can apply for a home loan.
There are several Banks and Non-banking institutions which provides the home loan. Some of them are SBI, LIC, HDFC etc. The availability of home loan providers is based on geographical area. A home loan is a very long term contract; therefore, selecting a reliable home loan provider is mantel peace.
STATE BANK OF INDIA serves the primary area of the Northeast.
List of papers/ documents applicable to all applicants:
Income Proof for Salaried Applicant/ Co-applicant/ Guarantor:
Income Proof for Non-Salaried Applicant/ Co-applicant/ Guarantor:
There are few advantages of a home loan are;
The features of Pradhan Mantri Awas Yojana are that the government will provide an interest subsidy of 6.5% (for EWS and LIG), 4% for MIG-I and 3% for MIG-II on housing loans availed by the beneficiaries for 20 years under the credit link subsidy scheme (CLSS) from the start of a loan. The houses under Pradhan Mantri Awas Yojana would be constructed through eco-friendly technology while allotting ground floors in any housing scheme under PMAY; preference will be given to differently-abled and older persons.
The houses given under this scheme will be owned by females or jointly with males.
The above information is the standard formats. The procedures may vary with a person with a different profile. We recommend Home loan seekers know their eligibility from the financer approached.
Being an SBI (State Bank of India) home loan counsellor, we make it easy in applying and processing further for availing a HOME LOAN. In addition, our other service vertical may help to prepare financial supporting documents if needed to support a home loan application.
Contact us for more details.
ASSETCARE INVESTMENTS AND INSURANCE MARKETING
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