Online mortage calculators seem like they are fulll of lies. I exact same info used has be from 700 a month to over a 1000 (for a loan of about 122,000). I know taxes and interest rate will change, but about how much is your loan and what is your monthly payment? I've hear it is about 10% of your mortgage, but I have a really hard time trusting the people that make a living off of selling homes.
The assumptions will change and they can really, drastically affect the mortgage payment. You have to know if they are estimating taxes and insurance or not. Your loan of 122,000 will have principal and interest payments of $751 (for a 30 year fixed loan at 6.25% interest). At 4% interest (not saying you can find it, just for the difference in payment) the payment would be $582. At 9% interest that loan would be $982 per month. Taxes. Taxes can run anywhere from 0.5% of the value per year up to 4% of the value per year. It could range from $508 per year ($60 a month) up to $4880 per year or $410 per month! Insurance, depending upon where you are, could also have a huge range from a few hundred a year to a few thousand. Then, if you don't put down 20%, you'll have PMI (private mortgage insurance) which could add up to another $200 a month onto your loan payment. It is confusing and depending on what is included in a home loan calculator, it will look very different. good luck! my loan is for $260,000. I pay $1500 a month at 5.5% interest and pay my taxes and insurance on my own (they are not included in the $1500).
Tuesday, December 15, 2009
Monday, December 14, 2009
Best Financial Calculators in India for home loan online?
I am a first time home buyer and am in the process of doing research to ge a home loan. The home loan calculator I can find say rates are based on married, two dependent households. Because I have no dependents and all of my income would go toward my own expenses does that make me eligible for more than a married household that brings in equal income to what I earn?
Well, you do not get to file as married because you own a home. But, no, being single does not effect your ability to obtain a loan. In fact it would be illegal to discriminate against you for your family status.
I do qualify for a VA home loan, is it possible to get approved for a higher loan amount?
I have done those "mortgage calculators" , most of them say I can afford between 140,000 and 165,000...however the house Im looking at is 180,000. I was just wondering if it could be possible since it is a guaranteed loan to be approved for more.
If you are approved through an automated underwriting system on a VA loan, the ratios are waived. You need to get with a lender who can run the application for you at the higher price. If you would like, you can contact me through the e-mail link in my profile. I would be happy to help if you would like. Good luck.
Well, you do not get to file as married because you own a home. But, no, being single does not effect your ability to obtain a loan. In fact it would be illegal to discriminate against you for your family status.
I do qualify for a VA home loan, is it possible to get approved for a higher loan amount?
I have done those "mortgage calculators" , most of them say I can afford between 140,000 and 165,000...however the house Im looking at is 180,000. I was just wondering if it could be possible since it is a guaranteed loan to be approved for more.
If you are approved through an automated underwriting system on a VA loan, the ratios are waived. You need to get with a lender who can run the application for you at the higher price. If you would like, you can contact me through the e-mail link in my profile. I would be happy to help if you would like. Good luck.
Thursday, December 10, 2009
What you are paying is PMI - private mortgage insurance?
It sounds like you are your near reaching 20% equity in your home. They may just be getting prepared for when you send a dispute to have that nasty PMI removed. It was a lot of work to get mine removed - I had to prove that I had 20% equity - I even waited till I had 25% just to make sure. Then again, maybe PMI companies are just getting paranoid. I would call them immediately - since I don't think you would be near paying over 20% only after a year. /
Do we need to get a new title insurance when we refinance our home mortgage loan?
We bought a title insurance when we first got our home loan. We are now refinancing with another bank and they are requiring us to get a new title insurance. Is this right?
I work at a mortgage company, and most banks require title insurance for every mortgage that they underwrtie.
Need information for insurance for home loan which covers EMI in case of job loss.?
I am planing to buy a flat in bangalore(India) So i am applying for home loan from SBI or canara bank for 25 lakhs. So i want to insure this housing loan. Let me know which insurance company will pay EMI if i lost job in between. ICICI lombard is paying now but their premimum is very huge. So any other insurance company which pays my EMI if job is lost.
With a SBA loan that requires home loan insurance, after getting the money what would happen if one doesn't pay ins
I got a SBA loan after the Hurricane. I needed a second draw. It required a wind-insurance home owners policy. I gave the company l/4 payment, then got some funds from SBA. What would happen if I cancelled the policy? I don't need any more funds from the SBA.
Do we need to get a new title insurance when we refinance our home mortgage loan?
We bought a title insurance when we first got our home loan. We are now refinancing with another bank and they are requiring us to get a new title insurance. Is this right?
I work at a mortgage company, and most banks require title insurance for every mortgage that they underwrtie.
Need information for insurance for home loan which covers EMI in case of job loss.?
I am planing to buy a flat in bangalore(India) So i am applying for home loan from SBI or canara bank for 25 lakhs. So i want to insure this housing loan. Let me know which insurance company will pay EMI if i lost job in between. ICICI lombard is paying now but their premimum is very huge. So any other insurance company which pays my EMI if job is lost.
With a SBA loan that requires home loan insurance, after getting the money what would happen if one doesn't pay ins
I got a SBA loan after the Hurricane. I needed a second draw. It required a wind-insurance home owners policy. I gave the company l/4 payment, then got some funds from SBA. What would happen if I cancelled the policy? I don't need any more funds from the SBA.
Tuesday, December 1, 2009
Can I pay the EMI of my SBI home loan?
By dropping a cheque on my loan account at any SBI branch?
if drop box is provided, you can pay. but best method is ECS. you can also open saving account in SBI & opt for direct debit.
Pay SBI Home loan from ICICI Net Banking?
Can I pay my SBI Home Loan EMI using ICICI Funds Transfer to Non-ICICI accounts by choosing my SBI Branch and my Loan account number?
Can any one tell me the full details abt the senior citizen home loan in SBI?
What is RML ? Can we ask loan for new purchasing ? or the loan is only for existing home
The term used is not 'senior citizen home loan' but 'Reverse Mortgage'. You have to mortgage your existing house, for which the bank will pay you a certain amount per month till your death. After your death your successors can repay the loan amount the bank has extended to you till date and cancell the mortgage on the house. Or the bank can auction the house after your death to recover the loan and pay the balance to your successors. This procedure will be carried out only after the death of both the old spouses. But unfortunately the system is still not in place i.e. it is not being executed due to unclear guidelines. HMT
Which home loan is best? Sbi rates are higher than ICICI but people suggest the sbi, Why?
When the inflation is going peek like this, i feel like to approach the right bank for my home loan, but which is the right bank?
i recently heard from a friend that he availed housing loan in ICICI. he is a retired govt servant. he paid the full loan two years back. but till to day he has not received his original title document of the house. without original document he can not sell the property or raise any secured loan for an emergency. ICICI bank not bothered to return the document. probably mis placed or lost by them. now the retired man filed against the ICICI bank in consumer court Chennai for recovery of document. that is why SBI is better than ICICI bank
if drop box is provided, you can pay. but best method is ECS. you can also open saving account in SBI & opt for direct debit.
Pay SBI Home loan from ICICI Net Banking?
Can I pay my SBI Home Loan EMI using ICICI Funds Transfer to Non-ICICI accounts by choosing my SBI Branch and my Loan account number?
Can any one tell me the full details abt the senior citizen home loan in SBI?
What is RML ? Can we ask loan for new purchasing ? or the loan is only for existing home
The term used is not 'senior citizen home loan' but 'Reverse Mortgage'. You have to mortgage your existing house, for which the bank will pay you a certain amount per month till your death. After your death your successors can repay the loan amount the bank has extended to you till date and cancell the mortgage on the house. Or the bank can auction the house after your death to recover the loan and pay the balance to your successors. This procedure will be carried out only after the death of both the old spouses. But unfortunately the system is still not in place i.e. it is not being executed due to unclear guidelines. HMT
Which home loan is best? Sbi rates are higher than ICICI but people suggest the sbi, Why?
When the inflation is going peek like this, i feel like to approach the right bank for my home loan, but which is the right bank?
i recently heard from a friend that he availed housing loan in ICICI. he is a retired govt servant. he paid the full loan two years back. but till to day he has not received his original title document of the house. without original document he can not sell the property or raise any secured loan for an emergency. ICICI bank not bothered to return the document. probably mis placed or lost by them. now the retired man filed against the ICICI bank in consumer court Chennai for recovery of document. that is why SBI is better than ICICI bank
Tuesday, November 17, 2009
Low interest rate home loan?
Who offers a low interest rate for home loans?
Go to a major loan institution or another
Realtors, have you ever been surprised how high your client's home loan interest rate was? How high was it?
Eek! lol... Thanks for answering!
A couple of times. Always when they had used a lender that I had never worked with. I have seen rates in the 8-11% range in the past several years.
Whats the best and quickest way to pay off high rate second loan on first home purchase?
I just purchased purchased my first home for $181,900. I put 10% as a down payment$18,400 plus $500 earnest money. I had only 10K on hand a had to borrow the other 8K from another lender. My question with the 10% down payment does that give me some kind of equity if so when can I refinance to get some cash to pay off the high interest 8K loan. Or could I get another loan at a lower rate and pay off the higher rate loan. I need some advice on the best way to go about this. Because we can handle the mortgage and the loan but want to get out of it as soon as possible. All serious suggestions are appreciated
You can refinance your mortgage any time that you would like in order to get rid of that high rate 2nd mortgage. You can either try to refinance both mortgages together into one or you can simply refinance the 2nd mortgage only. However, what you want to look out for is: 1. make sure you do not have a pre-payment penalty on your current loan that you are refinancing. 2. make sure the deal will actually save you money and is in your best interest 3. make sure you refinance to a fixed rate with the uncertainty of interest rates right now and for the next few years.
Go to a major loan institution or another
Realtors, have you ever been surprised how high your client's home loan interest rate was? How high was it?
Eek! lol... Thanks for answering!
A couple of times. Always when they had used a lender that I had never worked with. I have seen rates in the 8-11% range in the past several years.
Whats the best and quickest way to pay off high rate second loan on first home purchase?
I just purchased purchased my first home for $181,900. I put 10% as a down payment$18,400 plus $500 earnest money. I had only 10K on hand a had to borrow the other 8K from another lender. My question with the 10% down payment does that give me some kind of equity if so when can I refinance to get some cash to pay off the high interest 8K loan. Or could I get another loan at a lower rate and pay off the higher rate loan. I need some advice on the best way to go about this. Because we can handle the mortgage and the loan but want to get out of it as soon as possible. All serious suggestions are appreciated
You can refinance your mortgage any time that you would like in order to get rid of that high rate 2nd mortgage. You can either try to refinance both mortgages together into one or you can simply refinance the 2nd mortgage only. However, what you want to look out for is: 1. make sure you do not have a pre-payment penalty on your current loan that you are refinancing. 2. make sure the deal will actually save you money and is in your best interest 3. make sure you refinance to a fixed rate with the uncertainty of interest rates right now and for the next few years.
Thursday, November 12, 2009
What home loan interest rate can I expect?
Currently my FICO is 630, I have history of a bankruptcy 6 years ago, I make 80k a year, my only current debt is a 6k auto loan, oh and those dreaded 21k in student loans. I'm in California and 4 years ago I really wanted to purchase a home before the prices got to out of control but no bank would touch me despite a good career and down payment so my parents who had their home paid off got the loan for me and I've been paying the mortgage. Now 4 years later I'm ready to be an adult and do the right thing and get my home loan in my name even if it means a higher interest rate then the current 4.5%. With the equity I've established (my home is worth 380k and I owe 180k but thinking about borrowing 200k to pay the auto loan and do some home improvements) is it possible for me to get a decent interest rate with my train wreak credit history?
Why the rush? With a 630 FICO you'll be paying subprime rates which will be substantially higher than the 4.5% you are paying now. To answer your question, no you will not get a decent rate with a 630 FICO. Wait until the bankruptcy falls off your credit report and then refinance. In the meantime just keep paying your bills and keeping your credit clean as a whistle. Sounds like you are on the right track, good luck. BTW: Beware the answer than says in another year your bankruptcy will come off your credit report. Bankruptcies are reported for 10 years. In addition that poster doesn't know anything about the subprime lending market, the interest rates charged are substantially higher than you would get with A credit. Plus with a 4.5% loan currently the original poster would be nuts to go out and refinance with a subprime lender right now.
Currently my FICO is 630, I have history of a bankruptcy 6 years ago, I make 80k a year, my only current debt is a 6k auto loan, oh and those dreaded 21k in student loans. I'm in California and 4 years ago I really wanted to purchase a home before the prices got to out of control but no bank would touch me despite a good career and down payment so my parents who had their home paid off got the loan for me and I've been paying the mortgage. Now 4 years later I'm ready to be an adult and do the right thing and get my home loan in my name even if it means a higher interest rate then the current 4.5%. With the equity I've established (my home is worth 380k and I owe 180k but thinking about borrowing 200k to pay the auto loan and do some home improvements) is it possible for me to get a decent interest rate with my train wreak credit history?
Why the rush? With a 630 FICO you'll be paying subprime rates which will be substantially higher than the 4.5% you are paying now. To answer your question, no you will not get a decent rate with a 630 FICO. Wait until the bankruptcy falls off your credit report and then refinance. In the meantime just keep paying your bills and keeping your credit clean as a whistle. Sounds like you are on the right track, good luck. BTW: Beware the answer than says in another year your bankruptcy will come off your credit report. Bankruptcies are reported for 10 years. In addition that poster doesn't know anything about the subprime lending market, the interest rates charged are substantially higher than you would get with A credit. Plus with a 4.5% loan currently the original poster would be nuts to go out and refinance with a subprime lender right now.
Wednesday, November 11, 2009
What is the name of the calculator that tells you what you would pay a month on a home loan?
We call our calculator How Much Home Can I Afford, which does exactly what you are asking. Most calculators will make assumptions on credit and down payment, so make sure you talk with a mortgage expert to find your exact rate and payment.
Want to do some home loan calculating no businesses attached amortization calculator?
just want to see for myself before going to the bank
Is it hard for a single woman to get a home loan?
I am a first time home buyer and am in the process of doing research to ge a home loan. The online mortgage calculators I can find say rates are based on married, two dependent households. Because I have no dependents and all of my income would go toward my own expenses does that make me eligible for more than a married household that brings in equal income to what I earn?
Well, you do not get to file as married because you own a home. But, no, being single does not effect your ability to obtain a loan. In fact it would be illegal to discriminate against you for your family status.
Want to do some home loan calculating no businesses attached amortization calculator?
just want to see for myself before going to the bank
Is it hard for a single woman to get a home loan?
I am a first time home buyer and am in the process of doing research to ge a home loan. The online mortgage calculators I can find say rates are based on married, two dependent households. Because I have no dependents and all of my income would go toward my own expenses does that make me eligible for more than a married household that brings in equal income to what I earn?
Well, you do not get to file as married because you own a home. But, no, being single does not effect your ability to obtain a loan. In fact it would be illegal to discriminate against you for your family status.
Tuesday, November 10, 2009
Best bank for NRI home loan in India
Hiya, Can any one suggest me the best bank in India to apply for NRI home loan. As far as I know people seem to have bad experience with all private banks especially with ICICI and HDFC. So if anyone could suggest any bank I can go for would be much appreciated.
NRI's are eligible to take residential property in India. Different banks use different criteria for lending to NRIs, including the various mandatory aspect of financial lenders An NRI must have an account with the lending bank He should tend to earmark the deposit held in addition to the mortgage on the property Else all required documents are similar to those applicable to the local residential persons. The interest rate for the NRI home loans do not vary much from the the one charged for Indian citizens. But they could get their loan sanctioned for the shorter period of time. For a home loans, NRIs get only 85 per cent of cost of loan. Whereas, the loan-size depends on the refunding capacity of the borrower. The loans equivalent to 36 times of the gross monthly earning of the applicant may be issued. Banks like ICICI, Bank of Baroda, State Bank of India, HDFC etc. are some institutions offers fixed as well as floating interest rate for a tenure, ranging from three to five years.
Plz help me about this......Home Loan matter!!!!!!!?
One of my friend wants to bye a flat, she is single earning & Current CTC: 1,32000(per Year),do u think she can take Home Loan of 11,000000/-? She has PF, salary by cheque in HDFC, also have form-sixteen (from last year), not a big balance in account .She is doing job from last five year in same company. If it’s not possible can u plz tell me what she can do (about loan), she really wants to perches that flat. Plz help.
Most of the banks follows eligibility amount by 48 months take home salary. For example, your friend take home salary is Rs.10,000/- then she is eligible for 480,000/-
NRI's are eligible to take residential property in India. Different banks use different criteria for lending to NRIs, including the various mandatory aspect of financial lenders An NRI must have an account with the lending bank He should tend to earmark the deposit held in addition to the mortgage on the property Else all required documents are similar to those applicable to the local residential persons. The interest rate for the NRI home loans do not vary much from the the one charged for Indian citizens. But they could get their loan sanctioned for the shorter period of time. For a home loans, NRIs get only 85 per cent of cost of loan. Whereas, the loan-size depends on the refunding capacity of the borrower. The loans equivalent to 36 times of the gross monthly earning of the applicant may be issued. Banks like ICICI, Bank of Baroda, State Bank of India, HDFC etc. are some institutions offers fixed as well as floating interest rate for a tenure, ranging from three to five years.
Plz help me about this......Home Loan matter!!!!!!!?
One of my friend wants to bye a flat, she is single earning & Current CTC: 1,32000(per Year),do u think she can take Home Loan of 11,000000/-? She has PF, salary by cheque in HDFC, also have form-sixteen (from last year), not a big balance in account .She is doing job from last five year in same company. If it’s not possible can u plz tell me what she can do (about loan), she really wants to perches that flat. Plz help.
Most of the banks follows eligibility amount by 48 months take home salary. For example, your friend take home salary is Rs.10,000/- then she is eligible for 480,000/-
Thursday, November 5, 2009
Home loan interest rates options with bankruptcy in my record
What kind of home loan interest rate could I get with a bankruptcy on my record?
I have a chapter 7 bankruptcy on my record from 2003, but I have no debt and a credit score of about 700. And I have $20,000 for a down payment. If I got a home loan, would the bankruptcy make a huge difference in the interest rate? How big a difference?
I had a bankruptcy back in 2001. My husband and I bought a house in 2004, and my credit score was about 700 as well. We had no problem getting the low interest rates that were available at the time. You have a fairly large down payment too, so depending on the cost of the house you want to buy, you should have no problems getting the lower rates. I think the standard rate right now is about 5.5-6.5%.
Who has the best home loan interest rate for right now?
Who has the best home loan interest rate for right now? Please provide websites if you have them.
Best home loans are easy to get if you know where to look. Home loans with low interest rates can make a sizable difference in your savings, both on a long term and short term basis. However in order to get the best interest rate on your new home loan, you need to follow some tips. sure-fire way to finding some of the best home loans rate is by comparing between 3-4 different lenders prior to deciding who to opt for. While most lenders have a wide range of interest rates and schemes, those who offer flexibility in terms and conditions or can customize to your preferences can work the best for you.
I have a chapter 7 bankruptcy on my record from 2003, but I have no debt and a credit score of about 700. And I have $20,000 for a down payment. If I got a home loan, would the bankruptcy make a huge difference in the interest rate? How big a difference?
I had a bankruptcy back in 2001. My husband and I bought a house in 2004, and my credit score was about 700 as well. We had no problem getting the low interest rates that were available at the time. You have a fairly large down payment too, so depending on the cost of the house you want to buy, you should have no problems getting the lower rates. I think the standard rate right now is about 5.5-6.5%.
Who has the best home loan interest rate for right now?
Who has the best home loan interest rate for right now? Please provide websites if you have them.
Best home loans are easy to get if you know where to look. Home loans with low interest rates can make a sizable difference in your savings, both on a long term and short term basis. However in order to get the best interest rate on your new home loan, you need to follow some tips. sure-fire way to finding some of the best home loans rate is by comparing between 3-4 different lenders prior to deciding who to opt for. While most lenders have a wide range of interest rates and schemes, those who offer flexibility in terms and conditions or can customize to your preferences can work the best for you.
Tuesday, November 3, 2009
Best Indian Bank to approach for Home Loan?
Planning for Home loan below 20 Lakhs. Which bank to approach? Nationalized banks like SBI, PNB, BOB, IOB etc Pvt Banks like ICICI, IDBI, HDFC or some other firms like LIC Housing Loans.. Let me know the positive points for your answers and also rate above banks on ease of getting a loan sanctioned
All nationalized banks good. in private bank HDFC is good. LIC HFL is also good donot opt ICICI as you may not get back the original document mortgaged with them even after you closing full loan amount. and they will least bother to reply you also. there is a case pending in Madras Consumer court in this regard filed by an affected borrower.
Which is the home loan best in india 10 to 15 lakas in ajmer?
I living in uae dubai via nri a/c hdfc, sbi,oriantal bank of commerce etc please give me advice & please share your experience with me .
Best home loans are easy to get if you know where to look. Home loans with low interest rates can make a sizable difference in your savings, both on a long term and short term basis. However in order to get the best interest rate on your new home loan, you need to follow some tips. A sure-fire way to finding some of the best home loans rate is by comparing between 3-4 different lenders prior to deciding who to opt for. While most lenders have a wide range of interest rates and schemes, those who offer flexibility in terms and conditions or can customize to your preferences can work the best for you.
All nationalized banks good. in private bank HDFC is good. LIC HFL is also good donot opt ICICI as you may not get back the original document mortgaged with them even after you closing full loan amount. and they will least bother to reply you also. there is a case pending in Madras Consumer court in this regard filed by an affected borrower.
Which is the home loan best in india 10 to 15 lakas in ajmer?
I living in uae dubai via nri a/c hdfc, sbi,oriantal bank of commerce etc please give me advice & please share your experience with me .
Best home loans are easy to get if you know where to look. Home loans with low interest rates can make a sizable difference in your savings, both on a long term and short term basis. However in order to get the best interest rate on your new home loan, you need to follow some tips. A sure-fire way to finding some of the best home loans rate is by comparing between 3-4 different lenders prior to deciding who to opt for. While most lenders have a wide range of interest rates and schemes, those who offer flexibility in terms and conditions or can customize to your preferences can work the best for you.
Wednesday, October 21, 2009
Is it advisable to transfer Home loan from one bank to another bank?
I've taken home loan from HDFC bank and for which I've been paying EMI for last 15 months. Now I want to transfer the outstanding amount to Indian bank which is giving Home loan at the rate of 9.5 % flexible. My current rate of intrest in HDFC is 11.25 % flexible.
if you are saving money, which you say you are by almost 2%, then yes. You must keep in mind all of the fees that come along with it. You must also figure (if applicable) any penalties for early payment. Figure how long you will be there to break even on the whole thing. And of course see if you are saving monthly.
Should I transfer my home loan from HDFC to IDBI?
Hi Pans, Standard Chartered Bank is offering an 9.5%* Int on Balance Transfer for Home Loan in Bangalore.
Which HOME Loan is Best LIC/HDFC?
I have pre approve letter of 2 Home loan bank LIC & HDFC. LIC Rate of Interest Rate : 8.25 (may be increase after 3 month) HDFC Rate of Interest Rate : 9.25 (Factor -4.50 Given in Letter) Now I am confuse please help me to choose
always govt is better than private in financial matters. prefer LIC
if you are saving money, which you say you are by almost 2%, then yes. You must keep in mind all of the fees that come along with it. You must also figure (if applicable) any penalties for early payment. Figure how long you will be there to break even on the whole thing. And of course see if you are saving monthly.
Should I transfer my home loan from HDFC to IDBI?
Hi Pans, Standard Chartered Bank is offering an 9.5%* Int on Balance Transfer for Home Loan in Bangalore.
Which HOME Loan is Best LIC/HDFC?
I have pre approve letter of 2 Home loan bank LIC & HDFC. LIC Rate of Interest Rate : 8.25 (may be increase after 3 month) HDFC Rate of Interest Rate : 9.25 (Factor -4.50 Given in Letter) Now I am confuse please help me to choose
always govt is better than private in financial matters. prefer LIC
Thursday, October 15, 2009
ICICI HDFC bank home loan
Banks are giving benefits of reduced home loan interest rates to the new customers. What will happen to the existing customer who already took loans at higher rates & still paying a handsome amount to these private sector banks. What are the benefits of balance transfer to nationalized bank. What is the procedure for the same or what are the legal points i have to look after during balance transfer process.
Don't worry after all nationalized bank like SBI has very less percent of interest when compare to ICICI and HDFC so contact for Information on loan schemes and services 1800112211 (toll free from BSNL/MTNL) or 080-26599990."
Transfer home loan to HDFC from ICICI bank, suggestions needed?
I am a poor frustrated ICICI bank home loan customer repaying the loan at floating interest rate of 12.5%(ICICI announced 9.75% floating interest rate for new customers). Finally I have decided to move on and transfer the loan to HDFC(not HDFC bank) and pay any penalty(around 35K) to ICICI. Can anyone tell me the current floating interest rates of HDFC for new/existing customers? Also, will I be still able to claim the tax benefits after the transfer of loan? Please suggest!!! I am a poor frustrated ICICI bank home loan customer repaying the loan at floating interest rate of 12.5%(ICICI announced 9.75% floating interest rate for new customers). Finally I have decided to move on and transfer the loan to HDFC(not HDFC bank) and pay any penalty(around 35K) to ICICI. Can anyone tell me the current floating interest rates of HDFC for new/existing customers? Also, will I be still able to claim the tax benefits after the transfer of loan? I mean will I continue to get the tax benefits on EMI paid/Repayment to HDFC? Please suggest!!!
For getting home loan in india from ICICI, HDFC and SBI?
Whether it is essential to be employed by same company for last 6 months to get home loan? It is no where mentioned, they ask for just 6 months salary slips, so i can submit my last 6 months salary slips of more than 1 employer, isn't it?
its not necessary but u have to have good income to qualify for a loan.
Don't worry after all nationalized bank like SBI has very less percent of interest when compare to ICICI and HDFC so contact for Information on loan schemes and services 1800112211 (toll free from BSNL/MTNL) or 080-26599990."
Transfer home loan to HDFC from ICICI bank, suggestions needed?
I am a poor frustrated ICICI bank home loan customer repaying the loan at floating interest rate of 12.5%(ICICI announced 9.75% floating interest rate for new customers). Finally I have decided to move on and transfer the loan to HDFC(not HDFC bank) and pay any penalty(around 35K) to ICICI. Can anyone tell me the current floating interest rates of HDFC for new/existing customers? Also, will I be still able to claim the tax benefits after the transfer of loan? Please suggest!!! I am a poor frustrated ICICI bank home loan customer repaying the loan at floating interest rate of 12.5%(ICICI announced 9.75% floating interest rate for new customers). Finally I have decided to move on and transfer the loan to HDFC(not HDFC bank) and pay any penalty(around 35K) to ICICI. Can anyone tell me the current floating interest rates of HDFC for new/existing customers? Also, will I be still able to claim the tax benefits after the transfer of loan? I mean will I continue to get the tax benefits on EMI paid/Repayment to HDFC? Please suggest!!!
For getting home loan in india from ICICI, HDFC and SBI?
Whether it is essential to be employed by same company for last 6 months to get home loan? It is no where mentioned, they ask for just 6 months salary slips, so i can submit my last 6 months salary slips of more than 1 employer, isn't it?
its not necessary but u have to have good income to qualify for a loan.
Monday, October 12, 2009
Calculate the revised period of Home Loan?
I have taken a floating rate housing loan and have made a part pre-payment. The interest rate have also reduced twice since the date the loan was disbursed to my account. I have opted for reduction in the loan tenure instead of reduction in the installment amount. Can somebody provide me the formula/excel sheet format to calculate the revised tenure of the loan?
Can Home Loan & Educational Loan be taken together?
Currently I have taken a Home loan Rs 30 Lacs (Emi 32000) , next year i am planning to a MBA in IIM , ISB which would cost me around 11 - 17 Lacs. I want to know that whether bank will allow for 1 year moratorium period during my education for Home Loan EMI. Also I would like to know that banks will provide Education Loan if I have already Home Loan running.
How many percentage between the home loan principles & interest amount?
Per Annum I Paid Against Home Loan Rs. 85800/-(Rs.7150 x 12 months ),So, My question is,How many amount relax-able from my tax saving & what percentage calculated Between Housing loan principle & interest amount.
Advice about choosing bank for home loan?
Dear answerers, I'm planning to purchase a flat in bangalore for which I need to get home loan. Please suggest any bank which provides good service, and also good interest rates. The builder has tied up with ING Vyasa bank and pushing me to go with that. Any feedback about. ING?
Can Home Loan & Educational Loan be taken together?
Currently I have taken a Home loan Rs 30 Lacs (Emi 32000) , next year i am planning to a MBA in IIM , ISB which would cost me around 11 - 17 Lacs. I want to know that whether bank will allow for 1 year moratorium period during my education for Home Loan EMI. Also I would like to know that banks will provide Education Loan if I have already Home Loan running.
How many percentage between the home loan principles & interest amount?
Per Annum I Paid Against Home Loan Rs. 85800/-(Rs.7150 x 12 months ),So, My question is,How many amount relax-able from my tax saving & what percentage calculated Between Housing loan principle & interest amount.
Advice about choosing bank for home loan?
Dear answerers, I'm planning to purchase a flat in bangalore for which I need to get home loan. Please suggest any bank which provides good service, and also good interest rates. The builder has tied up with ING Vyasa bank and pushing me to go with that. Any feedback about. ING?
Friday, October 9, 2009
Co-applicant to a home loan claim HRA benefit?
Can a Co-applicant to a home loan, not a co-owner, claim HRA benefit?
I need to know if I can get HRA benefit while being a co-applicant on a home loan. I am becoming co-applicant just to increase the loan limit of the loan taker and I would not be the owner or co-owner of the property.
Employer lying about a laid off employee to get a home loan?
I have a employee that was laid off over a month ago. He is applying for a home loan and they are trying to verify his employment here at my company. If I say he is not employed, he will not get the loan. If I lie and say he still is employed I could very well be granting the loan. Are there any implications on my end for helping him out if something comes up later on?
I agree with the "off to jail" answerer and have this to add: this kind of bogus reporting is half of what got this country into this economic mess that we're in. People falsifying reported income, loan agents pumping people up into thinking they could afford more than they really could. Do not jeopardize your career/family/freedom/reputation to help get someone into a loan that they may or may not be able to afford. What you need to do is to give this former employee a truthful report when someone else calls you for an employment reference. That is the biggest favor you can do. He will have to get the home/job/etc on his own merits and abilities.
Which rate of interest will be charged to me on a Home Loan?
Sir, I have applied for a home loan from HDFC bank. The day when i applied for the loan, the rate of interest was 10.25% and now it has become 11%. so which rate of interest will be charged to me. The rate of interest on the day of application of the home loan or the day when i take the first disbursement of the loan ? please reply as soon as possible.
The rate of interest on the date of application will not hold good. The interest rate prevailing on the date of disbursal will be charged. one more detail for you. There are two types of interest rate Fixes & Floating. the rate you are mentioning is certainly floating rate. in fixed rate the interest rate will not be changing to you for three years. in floating rate if RBI allows and if hdfc choose to increase the rate, immediately you will be charged more from that month. also if for any reason interest rate drops you will be benefited by paying lesser interest from that month
I need to know if I can get HRA benefit while being a co-applicant on a home loan. I am becoming co-applicant just to increase the loan limit of the loan taker and I would not be the owner or co-owner of the property.
Employer lying about a laid off employee to get a home loan?
I have a employee that was laid off over a month ago. He is applying for a home loan and they are trying to verify his employment here at my company. If I say he is not employed, he will not get the loan. If I lie and say he still is employed I could very well be granting the loan. Are there any implications on my end for helping him out if something comes up later on?
I agree with the "off to jail" answerer and have this to add: this kind of bogus reporting is half of what got this country into this economic mess that we're in. People falsifying reported income, loan agents pumping people up into thinking they could afford more than they really could. Do not jeopardize your career/family/freedom/reputation to help get someone into a loan that they may or may not be able to afford. What you need to do is to give this former employee a truthful report when someone else calls you for an employment reference. That is the biggest favor you can do. He will have to get the home/job/etc on his own merits and abilities.
Which rate of interest will be charged to me on a Home Loan?
Sir, I have applied for a home loan from HDFC bank. The day when i applied for the loan, the rate of interest was 10.25% and now it has become 11%. so which rate of interest will be charged to me. The rate of interest on the day of application of the home loan or the day when i take the first disbursement of the loan ? please reply as soon as possible.
The rate of interest on the date of application will not hold good. The interest rate prevailing on the date of disbursal will be charged. one more detail for you. There are two types of interest rate Fixes & Floating. the rate you are mentioning is certainly floating rate. in fixed rate the interest rate will not be changing to you for three years. in floating rate if RBI allows and if hdfc choose to increase the rate, immediately you will be charged more from that month. also if for any reason interest rate drops you will be benefited by paying lesser interest from that month
NRI Resident Home Loan?
I am deputed employee of a Indian Company. Working in US from last 8 months. I am on L1 VISA (Temporary Intra-Company Transfer), I got my Indian salary in India(INR) and US salary in US(USD). I want to take home loan. I searched in HDFC/SBI websites, their criteria for NRI home loan is working more than 2 years in foreign country. But as per rediff definition I am NRI. Then shall i apply for NRI home loan? Or shall i apply for Resident home loan. which is beneficial?
When your work visa is for a temporary period, why don't you avail after returning to India ...? Otherwise two yrs stay abroad may be required for you.
I want an education loan but don't have 60% in graduation am i eligible for it....pls help me?
i want an education loan for mba but sbi is saying i don't fulfill the criteria of 1st division throughout graduation as i have only 57.5% ... my father has taken a home loan from sbi personal banking.. for over three years and has made all the installments in time.. is it of any help...
Joint Home loan with father?
Hi, I want to apply for home loan. Can I apply for joint home loan with my father? I am 26 year old and my father is 67 year old. He is retired army officer having good monthly pension. Also he is running grocery shop and farm. I stay in Pune, India. Which bank can combine my fathers income with me to eligible for specific loan amount? I am interested in SBI and Bank of Maharashtra.
HDFC OR ICICI OR AXIS BANK FOR HOME LOAN IN INDIA?
I require your suggestion which private banks shall i choose. ICICI or HDFC or AXIS for housing loan of 25 lakhs in india. I am applying for housing loan of Rs 25 lakhs. But i feel it is very difficult to get loan from SBI or Canara bank. Since there are lot of formalities in this public sector banks like guarantor etc. And also they are not ready to pay more than Rs 20 lakh for me. But Private banks like ICICI, HDFC, AXIS bank are ready to sanction Rs 25 lakhs housing loan for me. I have seen a good flat which costs around 30 lakh in Bangalore. So I require your suggestion which private banks shall i choose. ICICI or HDFC or AXIS. How is this banks process when PLR is increased or decresed. How frequently this banks increases Floating rate of interest. Thanks,
HDFC is best option in your three choices. Don't opt ICICI bank as you are not guaranteed to get back your original sale deed after full repayment of loan. A person in chennai has filed case against ICICI bank in consumer court for the return of original sale deed.
When your work visa is for a temporary period, why don't you avail after returning to India ...? Otherwise two yrs stay abroad may be required for you.
I want an education loan but don't have 60% in graduation am i eligible for it....pls help me?
i want an education loan for mba but sbi is saying i don't fulfill the criteria of 1st division throughout graduation as i have only 57.5% ... my father has taken a home loan from sbi personal banking.. for over three years and has made all the installments in time.. is it of any help...
Joint Home loan with father?
Hi, I want to apply for home loan. Can I apply for joint home loan with my father? I am 26 year old and my father is 67 year old. He is retired army officer having good monthly pension. Also he is running grocery shop and farm. I stay in Pune, India. Which bank can combine my fathers income with me to eligible for specific loan amount? I am interested in SBI and Bank of Maharashtra.
HDFC OR ICICI OR AXIS BANK FOR HOME LOAN IN INDIA?
I require your suggestion which private banks shall i choose. ICICI or HDFC or AXIS for housing loan of 25 lakhs in india. I am applying for housing loan of Rs 25 lakhs. But i feel it is very difficult to get loan from SBI or Canara bank. Since there are lot of formalities in this public sector banks like guarantor etc. And also they are not ready to pay more than Rs 20 lakh for me. But Private banks like ICICI, HDFC, AXIS bank are ready to sanction Rs 25 lakhs housing loan for me. I have seen a good flat which costs around 30 lakh in Bangalore. So I require your suggestion which private banks shall i choose. ICICI or HDFC or AXIS. How is this banks process when PLR is increased or decresed. How frequently this banks increases Floating rate of interest. Thanks,
HDFC is best option in your three choices. Don't opt ICICI bank as you are not guaranteed to get back your original sale deed after full repayment of loan. A person in chennai has filed case against ICICI bank in consumer court for the return of original sale deed.
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