Less Known Pointers that Can Affect your Home Loan Rates

A home loan is a secured option that comes with a longer tenor. Opting for a longer tenor may reduce your home loan EMIs. 

It may help you to manage other outlays in the month easily. But, you also have to deal with a higher home loan interest rate. 

But other than a longer tenor, many less-known factors also affect the interest rate of home loan in India. 

Let’s know more in this quick post so that you can avail yourself of the lowest home loan interest rates in India!

1. The location and value of your new home 

If your home that you want to buy using a home loan is located in a well-known place with basic amenities, you may enjoy the lowest home loan interest rates. It is because your lender will find it liquidating your property easier if you default. Also, the value of your property determines the applicable home loan interest rates. 

2. Your credit utilization 

If you have a credit card or avail yourself of another credit line and used a large part of it, you may not get the lowest home loan interest rates. It is because your lender may consider you to be depending on your credit limits to manage expenses. Hence, while applying for a home loan, ensure to lower your credit utilization. 

3. Your debt to income ratio 

If you have already many debts on your head, a large part of your income may go towards your EMIs. In this case, your income may not have room to make way for another loan. Even if a lender approves your home loan application, it may be at a higher rate. 

You are now aware of elements that most borrowers don’t consider while applying for housing finance. You should consider them and work on each of them to enjoy the lowest home loan interest rates. 

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Home Loan Digital Sanction Letter within a few minutes with Bajaj Housing Finance Limited

Were you looking to apply for a home loan to buy your dream home? If yes, you may like to settle for a bank like many more. 

But applying for a home loan with a conventional letter may take more time for approval and more. 

But if you opt for the Bajaj Housing Finance Digital Sanction Letter within a few minutes with Bajaj Housing Finance Limited, you may get the digital sanction letter instantly. Want to know more? Read on!

What is a home loan digital sanction letter instantly?

The Bajaj Housing Finance Limited is a subsidiary of Bajaj Finance Limited, a known non-banking finance company (NBFC) in India. 

The leading housing finance company has recently announced a revision in home loan approval time. 

Anyone fulfilling the home loan eligibility criteria can get a digital sanction for an e-home loan within a few minutes. 

The biggest benefit of applying for a Bajaj Housing Finance home loan will be expediting the process of availing finance for a property. 

In turn, eligible borrowers will be able to save on time and efforts and complete the housing loan process over a smaller duration.  

With instant approval available, it can help borrowers streamline the entire home buying procedure. Once you have received the digital sanction letter for the Bajaj Housing Finance home loan, it stands valid for 6 months.

If you wish to make the most of the Bajaj Housing Finance home loan sanction letter, you can first meet the lender’s eligibility. To do that, you can land on the Bajaj Housing Finance Limited website and access the home loan calculator. 

If your CIBIL score is higher, you have been consistently employed or have a business vintage of at least 5 years; you can avail of lowest home loan interest rates. It can assist you to save huge on repayments.  

Also Read: 5 Important Factors You Need to Know About Home Loan Incentives

Read More

Home Loan Digital Sanction Letter within a few minutes with Bajaj Housing Finance Limited

 Were you looking to apply for a home loan to buy your dream home? If yes, you may like to settle for a bank like many more. 

But applying for a home loan with a conventional letter may take more time for approval and more. 

But if you opt for the Bajaj Housing Finance home loan, you may get the digital sanction letter instantly. Want to know more? Read on!

What is a home loan digital sanction letter instantly?

The Bajaj Housing Finance Limited is a subsidiary of Bajaj Finance Limited, a known non-banking finance company (NBFC) in India. 

The leading housing finance company has recently announced a revision in home loan approval time. 

Anyone fulfilling the home loan eligibility criteria can get a digital sanction for an e-home loan within a few minutes. 

The biggest benefit of applying for a Bajaj Housing Finance home loan will be expediting the process of availing finance for a property. 

In turn, eligible borrowers will be able to save on time and efforts and complete the housing loan process over a smaller duration.  

With instant approval available, it can help borrowers streamline the entire home buying procedure. Once you have received the digital sanction letter for the Bajaj Housing Finance home loan, it stands valid for 6 months.

If you wish to make the most of the Bajaj Housing Finance home loan sanction letter, you can first meet the lender’s eligibility. To do that, you can land on the Bajaj Housing Finance Limited website and access the home loan calculator. 

If your CIBIL score is higher, you have been consistently employed or have a business vintage of at least 5 years; you can avail of lowest home loan interest rates. It can assist you to save huge on repayments. 

Read More