Housing Loan Procedure

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Housing Loans
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Housing Loan Procedure
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• Owning a home is an important thing in life. It
  is a long cherished dream for many. These days,
  there is a great increase in the property prices
  in India.
• And so, buying a house in a single payment is
  difficult for many people. Therefore, many people
  go for housing loan and it makes the process of
  buying a home easier.
• Many nationalized and private banks offer housing
  loans. There are also some housing finance
  companies in India which offer Housing Loan.
• In India, the housing loan procedure includes few
  steps. It may be small process for few people, if
  they have all the documents required in the
  process.

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• Housing Loan Procedure in India Choosing a
  Housing Loan While choosing the best housing loan
  plan, you have to study a lot and figure out
  which housing loan plan fits best to your needs.
• Figure out your financial status in the coming
  few years so that you have a rough idea of your
  resources in the coming years and choose the
  housing plan that suits you.
• Submission Of Application Form Once you have
  figured out the plan you need, you have to submit
  the application form to the Bank.
• You will also be asked to submit some relevant
  documents along with the application form.

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• Registration of Property and Signing of
  Agreements At this stage, the registration of
  your property takes place. And now it is time for
  signing the final agreement of the home loan.
• After signing the agreement, you must hand over a
  bunch of Post dated cheques as agreed on the
  agreement paper.
• Payment Procedure After the bank ensures that
  financing the property involves no risk, they pay
  the amount that is agreed upon. At this stage,
  the money is given to the builder or the owner of
  the property.
• The money will be disbursed based on the
  construction stages of the property. The payment
  may be full or part based on the construction
  stage of the property.
• Source http//ezinearticles.com/?Housing-Loan-Pro
  cedureid4853237

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