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FAQs

Questions Answers
When can I apply for a Home Loan? You can apply for a Home Loan at any time.
How is my Home Loan eligibility determined?

Your Home Loan eligibility is determined by your repayment ability. This desicion is a combination of multiple factors that are being taken into consideration, factors such as: 

  • Income 
  • Stability of occupation
  • Age 
  • Spouse's income 
  • Nomber of dependants 
  • Assets
  • Savings history

The main concern of banks in determining your loan eligibility is that whether or not you are able to pay off the amount you borrow. 
What is the maximum amount I can borrow?

The maximum amount that you can borrow depends on factors such as the purpose of the loan. Home Loans are provided mostly for in the range of 70%-85% of the cost of the property, including cost of land.
What is a secured personal loan? 
 A secured loan means that your home is used as security against the loan. This sort of loans tend to be much easier to obtain as you are guaranteeing repayments. 
What if I fall behind on my repayments? If you feel that keeping up your repayments is a continuos struggle, you should contact the lender and explain your problem. Most of the times lenders would prefer to work out a new repayment plan that you can afford. It's too much of a hassle to start legal proceedings against you or take it as far as repossessing your home. 

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