hkfincorp

DETAILS FOR HOME LOAN

home loan

A home loan is a secured loan that is obtained to purchase a property by offering it as collateral. Home loans offer high-value funding at economical interest rates and for long tenors. They are repaid through EMIs. After repayment, the property’s title is transferred back to the borrower.
A home loan provides financing to help you purchase your dream home comfortably. Lenders cover up to 75-90% of the cost of the home and you must make an initial payment (down payment) amounting to the remainder. Home loans offer ample funds at economical interest rates and have long repayment tenors.
To encourage people to realise their dream of buying a house, the RBI has proposed the following new Home Loan rules: LTV stands at 90% for homes that value 30 lakhs and lesser. LTV stands at 80% for homes that value between 30 lakhs and 75 lakhs. LTV stands at 75% for homes that value 75 lakhs and more.
You’ll need to have a qualifying FICO® Score of at least 620 points to qualify for most types of loans. You should consider an FHA or VA loan if your score is lower than 620. An FHA loan is a government-backed loan with lower debt, income and credit standards.

Does Home Loan eligibility based on salary?

You can usually get a home loan that is 60 times your salary. However, lenders do not generally consider your in-hand salary when determining the loan amount. Your in-hand salary may include the list below. Other allowances, etc.

ABOUT US

We are pleased to introduce H.K. FINCORP as one of the leading organizations in the field of Associates Financing & Consultancy operating from 4/1, First Floor, East Patel Nagar, New Delhi-110008. It was all started 20 years back by Mr. Hemant Kumar Madan.
He started providing loan services as an associate of a Bank. Which were providing different types of services in Loan and thereby Consultancy of the various finance options available in market.
Our Authorized Channel Partners with-  ICICI Bank Ltd, Tata Capital Financial Services Ltd, IDFC First Bank Ltd ,Standard Chartered bank. Tata Capital Housing Finance Ltd , HDB Financial Services Ltd, cholamandalam, Yes Bank Ltd, Hero Housing Finance Ltd and more financial Institutions.