fbpx
May 17, 2022

Home Loan Guide Step By Step Procedure – Effective Process

Are you looking to buy your dream home? If yes, then most probably you are searching for a Home loan guide step by step. Below, we will be discussing the step-by-step guide to the Home loan procedure. There may be some differences in loans from one lender to another. We have listed the general procedure that will be common to all the banks.

Follow the below steps to make your home loan application process smooth and hassle-free. In case you want loan consulting services then we have a team of financial experts you can talk with. For more information, contact us.

Home Loan Guide Step by Step

Here are the steps to complete the home loan process:

  1. Firstly, fill out the home loan application form and attach the important documents
  2. Pay the loan processing fee
  3. Discuss with the Bank
  4. Valuation of the documents
  5. The approval process
  6. Processing the offer letter
  7. Property papers followed by a legal bank check
  8. Technical check and the site estimation
  9. The final loan deal
  10. Signing the agreement
  11. The loan disbursal

Home Loan Guide Step-by-Step guide and required documents and procedure

Let’s see the steps for applying for a home loan with the required documents, fee, interest rates and paperwork.

Step 1 – Fill the Loan Application Form and Attach the Important Documents

The process of taking home loan begins with an application form. You have to fill the loan application form and submit the required documents. The application form will ask few basic information about the applicant, usually the loan application form includes.

  1. Personal details of applicant
  2. Address of the applicant
  3. Monthly or yearly income
  4. Educational information
  5. Employment details
  6. Property details
  7. Estimated cost of the property
  8. Present means of financing the home property

Once your loan application is filed, the next step you have to do is attach all the required and valid documents asked by the bank with the form. It includes the following documents

  1. Income proof
  2. ID proof
  3. Age proof
  4. Address proof
  5. Employment details
  6. Educational proof(school/ degree certificates or diploma)
  7. Bank details
  8. Property details on which the loan is applied

Step 2 – Pay the Loan Processing Fee

Once you completed the process of submitting the loan application form with the required documents, you will have to pay the loan processing fee to the bank. This is the amount which is collected by the bank for maintaining the applicant’s loan account. The fee is charged for sending some confidential paper work like post-dated cheque, IT certificates etc. The home loan processing fee of the bank usually ranges from 0.25% to 0.50% of the requested amount.

Step 3 – Discussion with the Bank

Once the documentation process is completed, the applicant has to wait for the time until the bank or the respective financial company checks the papers properly. And this process usually takes 1 to 2 days or even less if your paperwork and documents are perfectly valid and has no errors.

The bank may want a face to face interaction with the applicant before the home loan is sanctioned. This is done to collect more details about the applicant and to make sure he/she is a genuine and eligible customer who is applying for the loan.

Step 4 – Valuation of the Documents

Generally, banks approves the paperwork fast because every day millions of people applies for home loans. The applicant has to be genuine in the entire procedure. If any fake document or illegal activity is found by the bank, your loan application will be rejected.

Once the documents and the application form are submitted and the loan processing fee is paid, the bank authority will evaluate them.

Step 5 – The Loan Approval Process

The loan approval is one of the most crucial stages of home loan or any other type of loan process. The loan can be processed or rejected. The approval process is all in the hands of the bank. If the bank is not satisfied with any of your documents, most probably the loan approval changes will be very less. However, if everything goes well, the loan will be approved by the bank in no time.

Step 6 – Processing the Offer Letter

Once the loan is sanctioned or approved by the bank, you will receive a certified offer letter by the bank. The letter will contain the following details:

  • Loan amount that is being sanctioned to the applicant
  • The interest rates on the total loan amount
  • The interest rate is fixed or variable
  • The loan’s tenure details
  • Mode of the loan repayment
  • Terms, conditions and policies of the home loan(read them carefully)

Step 7 – Processing the Property papers followed by a Legal Check

Once the offer letter is accepted by the loan applicant, the bank next concentrated on the home loan property he or she intends to purchase. If the processing is not finalized, the applicant can request for a time duration.

Step 8 – Processing a technical check and the site estimation

Banks are very cautions about giving the loans to the customers because no bank want to increase their NPA. That’s why they double-check the documents and do some private verifications sometimes to make sure that they are not giving a loan to a defaulter.

The bank sends a property expert to check the premises, and the applicant tends to buy.

Step 9 – The Final Loan Deal

Once the technical and the site’s estimation is completed by the loan providing bank and the lawyer clears all the paperwork for the next step to get the home loan. The next step is the final registration of the deal.

The loan documents are finalized by the bank lawyer and then drafted with all the necessary stamps and signatures.

Step 10 – Signing the Loan Agreement

Once the paperwork is completed, the loan applicant has to verify and do sign the home loan agreement. He/she has to submit the cheques for the initial 36 months or for the time duration both the parties agreed upon.

When this process is completed, the original property papers have to be handled to the bank. Some banks can create a video recording of the applicant handing over the property papers to the bank officials for the future-proof. This is done by the bank for security, proof and security.

Step 11 – The Loan Disbursal

Once you have signed the papers and everything has been done legally, the home loan amount will be given via cheque. However, the loan applicant has to submit some more documents to the bank, as these documents will be served as his/her personal contribution to the home property.

Home loan , ,
About B.D.S PVT LTD
B.D.S. is a Private Limited Company located in Dehradun, Uttarakhand, It is founded to provide financial services like home loans, Personal loans, Business loans, Loans against property, Mutual funds, Life insurance, and general insurance to various individuals for their End-use purposes.
132 Comments
  1. Good post. I learn something new and challenging on blogs I stumbleupon on a daily basis. Its always exciting to read content from other authors and use a little something from other web sites.

  2. Today, there aare various forms of therapeutic massage
    which ccan be originally developped from the varied countries of Asia.

    Since there are a wide range of aches, pains and sore spots on the body, many massage therapies have
    advanced to focus on particular sorts of issues.

    Throughout the hydrotherapy session, there are jets and nozzles that splash
    the heated water on particular parts of your body
    such because thhe again, neck and head. Don’t just head for
    the medicine cabinet. In addition they bought you coated from heasd to
    toe. Come browse our selection and fond the options which are simply right for you.
    Massage chairs havbe incorporated these two options in order to offer an efficient reflexology foot
    massage. The main advantage of the massage chair is you could have it in thee
    comfort of your home, and no wastage of time iss involved.
    It may surprise you to know that floating and spending time in the water baths with heated water lets you drop extra pounds.

    Feel free to visit my website :: https://secrets-international.com

  3. Greetings! I know this is kinda off topic but I was wondering if you knew where I could get a captcha plugin for my comment form? I’m using the same blog platform as yours and I’m having difficulty finding one? Thanks a lot!

  4. This piece of writing will help the internet viewers for creating new webpage or even a blog from start to end.

  5. I simply could not depart your web site prior to suggesting that I extremely enjoyed the standard information a person supply on your visitors? Is going to be back steadily in order to inspect new posts

  6. Incredible points. Outstanding arguments. Keep up the good effort.

  7. Thank you for sharing your info. I truly appreciate your efforts and I am waiting for your next post thank you once again.

  8. I am sure this article has touched all the internet viewers, its really really pleasant article on building up new weblog.

  9. You ought to take part in a contest for one of the highest quality blogs on the internet. I will recommend this blog!

  10. After looking at a few of the blog articles on your website, I really like your way of blogging. I bookmarked it to my bookmark site list and will be checking back soon. Take a look at my web site as well and let me know what you think.

  11. Hmm is anyone else experiencing problems with the images on this blog loading? I’m trying to find out if its a problem on my end or if it’s the blog. Any feedback would be greatly appreciated.

  12. You really make it seem so easy with your presentation however I in finding this topic to be really something which I think I might never understand. It sort of feels too complicated and very vast for me. I am looking forward in your next submit, I will try to get the grasp of it!

  13. We are a gaggle of volunteers and starting a new scheme in our community. Your web site provided us with useful information to work on. You have performed an impressive process and our whole group will probably be grateful to you.

  14. obviously like your website however you need to check the spelling on quite a few of your posts. A number of them are rife with spelling problems and I find it very bothersome to tell the truth however I will surely come back again.

  15. I really like what you guys are up too. This type of clever work and coverage! Keep up the superb works guys I’ve incorporated you guys to my blogroll.

  16. Hi, I wish for to subscribe for this website to take latest updates, so where can i do it please assist.

  17. I’m really enjoying the design and layout of your site. It’s a very easy on the eyes which makes it much more enjoyable for me to come here and visit more often. Did you hire out a designer to create your theme? Great work!

  18. If you desire to take much from this piece of writing then you have to apply such techniques to your won weblog.

  19. Thanks for your marvelous posting! I truly enjoyed reading it, you could be a great author.I will always bookmark your blog and will eventually come back at some point. I want to encourage you to definitely continue your great writing, have a nice morning!

  20. I don’t even understand how I ended up here, however I thought this publish used to be good. I don’t understand who you are however definitely you are going to a famous blogger if you are not already. Cheers!

  21. naturally like your web-site however you need to test the spelling on quite a few of your posts. A number of them are rife with spelling problems and I find it very bothersome to tell the truth on the other hand I will certainly come back again.

  22. We are a group of volunteers and starting a new scheme in our community. Your site provided us with helpful information to work on. You have performed an impressive activity and our whole group will be grateful to you.

  23. A person necessarily help to make seriously articles I would state. This is the first time I frequented your web page and so far? I amazed with the research you made to create this actual post amazing. Magnificent task!

  24. With havin so much written content do you ever run into any problems of plagorism or copyright violation? My website has a lot of completely unique content I’ve either authored myself or outsourced but it looks like a lot of it is popping it up all over the web without my agreement. Do you know any solutions to help protect against content from being ripped off? I’d certainly appreciate it.

  25. I wanted to thank you for this wonderful read!! I definitely enjoyed every little bit of it. I’ve got you bookmarked to check out new stuff you post

  26. Appreciate the recommendation. Will try it out.

  27. hi!,I love your writing so much! percentage we communicate more approximately your post on AOL? I need an expert in this area to unravel my problem. May be that is you! Looking forward to peer you.

  28. I am regular reader, how are you everybody? This post posted at this site is actually nice.

  29. There is definately a lot to learn about this topic. I like all the points you’ve made.

  30. Hi there! I just would like to give you a huge thumbs up for the great info you’ve got here on this post. I’ll be coming back to your blog for more soon.

  31. Hello, just wanted to say, I enjoyed this post. It was practical. Keep on posting!

  32. Magnificent goods from you, man. I’ve be aware your stuff prior to and you’re simply too great. I really like what you’ve obtained here, really like what you’re stating and the best way during which you assert it. You make it entertaining and you still take care of to stay it sensible. I cant wait to read far more from you. This is actually a terrific site.

  33. flirt dating site: http://datingtopreview.com/# – dating website no credit card

  34. Spot on with this write-up, I honestly think this web site needs much more attention. I’ll probably be back again to read through more, thanks for the info!

  35. can you purchase amoxicillin online can you buy amoxicillin uk – amoxicillin 500 mg cost

  36. Hi there to every body, it’s my first pay a visit of this weblog; this blog contains awesome and actually good data in favor of readers.

  37. amoxicillin 500 mg brand name amoxicillin online pharmacy – amoxicillin 500mg price in canada

  38. Top 100 Searched Drugs.
    buy cheap propecia without insurance home
    Actual trends of drug.

  39. https://pharmacyreview.best/# canadian pharmacy no scripts

  40. amoxicillin 500 mg where to buy: https://amoxicillins.com/# amoxicillin 30 capsules price

  41. can i purchase cheap mobic pill where can i get cheap mobic prices where can i get generic mobic prices

  42. get generic mobic without prescription: buy mobic no prescription – cost of generic mobic pills

  43. amoxicillin pharmacy price: buy amoxicillin 500mg canada medicine amoxicillin 500mg

  44. order generic propecia no prescription cost of cheap propecia without dr prescription

  45. I’m impressed, I must say. Rarely do I encounter a blog that’s equally educative and entertaining, and let me tell you, you have hit the nail on the head. The issue is something which not enough folks are speaking intelligently about. I’m very happy that I found this in my search for something relating to this.

  46. buying amoxicillin in mexico amoxicillin order online – amoxicillin 50 mg tablets

  47. https://propecia1st.science/# cost of generic propecia without rx

  48. I am curious to find out what blog system you are utilizing? I’m experiencing some minor security problems with my latest site and I would like to find something more safeguarded. Do you have any solutions?

  49. best ed medication: mens ed pills – medicine erectile dysfunction

  50. buy mobic without insurance: mobic pills – can you get generic mobic pill

  51. get propecia tablets get cheap propecia without insurance

  52. ordering drugs from canada canadian pharmacy meds review

  53. https://mexpharmacy.sbs/# mexican pharmaceuticals online

  54. purple pharmacy mexico price list: buying prescription drugs in mexico online – mexican pharmaceuticals online

  55. canadian pharmacy 24: canadian pharmacy reviews – pet meds without vet prescription canada

  56. I’m gone to inform my little brother, that he should also pay a visit this webpage on regular basis to take updated from latest gossip.

  57. indian pharmacy paypal: top 10 pharmacies in india – india pharmacy mail order

  58. This is very fascinating, You are an overly professional blogger. I have joined your feed and sit up for in search of more of your fantastic post. Also, I have shared your site in my social networks

  59. Исключительный мужской эротический массаж в Москве с массажистками на выбор

  60. http://certifiedcanadapharm.store/# canadian pharmacy 24h com safe

  61. Im not that much of a online reader to be honest but your blogs really nice, keep it up! I’ll go ahead and bookmark your site to come back later. All the best

  62. pharmacies in mexico that ship to usa: reputable mexican pharmacies online – medicine in mexico pharmacies

  63. http://indiamedicine.world/# cheapest online pharmacy india

  64. Online medicine home delivery: best online pharmacy india – india pharmacy

  65. mail order pharmacy india: п»їlegitimate online pharmacies india – indian pharmacy online

  66. ivermectin lotion price: ivermectin cream cost – ivermectin over the counter canada

  67. http://gabapentin.pro/# neurontin 300 mg cap

  68. You really make it seem so easy with your presentation but I find this topic to be really something which I think I would never understand. It seems too complicated and very broad for me. I am looking forward for your next post, I will try to get the hang of it!

  69. neurontin tablets 100mg: prescription price for neurontin – canada neurontin 100mg discount

  70. Hey There. I found your blog the use of msn. This is an extremely smartly written article. I will be sure to bookmark it and come back to read more of your useful information. Thank you for the post. I will definitely comeback.

  71. ivermectin generic: ivermectin pill cost – ivermectin 1 cream 45gm

  72. Hi there this is somewhat of off topic but I was wondering if blogs use WYSIWYG editors or if you have to manually code with HTML. I’m starting a blog soon but have no coding knowledge so I wanted to get advice from someone with experience. Any help would be greatly appreciated!

  73. I visited several websites but the audio quality for audio songs present at this web site is really marvelous.

  74. https://ed-pills.men/# best non prescription ed pills

  75. ed medications list: cheap ed pills – treatments for ed

  76. http://antibiotic.guru/# antibiotic without presription

  77. https://avodart.pro/# can i get cheap avodart

  78. Whoa! This blog looks exactly like my old one! It’s on a completely different topic but it has pretty much the same layout and design. Great choice of colors!

  79. Hey there! Do you use Twitter? I’d like to follow you if that would be ok. I’m undoubtedly enjoying your blog and look forward to new updates.

  80. https://lisinopril.pro/# lisinopril 40 mg prices

  81. Hi mates, nice post and nice arguments commented here, I am actually enjoying by these.

  82. https://lipitor.pro/# lipitor prices compare

  83. http://avodart.pro/# how can i get avodart pill

  84. I am in fact happy to read this webpage posts which consists of lots of useful data, thanks for providing these information.

  85. https://indiapharmacy.cheap/# Online medicine home delivery

  86. http://indiapharmacy.cheap/# top online pharmacy india

  87. canadian pharmacy online reviews buy prescription drugs from canada cheap reliable canadian pharmacy

  88. Hi, I do believe this is an excellent blog. I stumbledupon it 😉 I will come back once again since I book marked it. Money and freedom is the best way to change, may you be rich and continue to help other people.

  89. Way cool! Some very valid points! I appreciate you writing this post and the rest of the site is extremely good.

  90. Good replies in return of this issue with firm arguments and describing all regarding that.

  91. What i do not realize is in fact how you’re now not really a lot more well-liked than you may be right now. You are so intelligent. You recognize therefore significantly when it comes to this matter, produced me individually consider it from so many numerous angles. Its like men and women aren’t fascinated unless it’s something to accomplish with Lady gaga! Your own stuffs nice. Always take care of it up!

  92. canadian pharmacy reviews: canadian pharmacy antibiotics – canadapharmacyonline

  93. I’m not sure why but this blog is loading extremely slow for me. Is anyone else having this issue or is it a problem on my end? I’ll check back later and see if the problem still exists.

  94. An impressive share! I have just forwarded this onto a coworker who was doing a little research on this. And he in fact bought me lunch simply because I discovered it for him… lol. So let me reword this…. Thank YOU for the meal!! But yeah, thanx for spending time to discuss this issue here on your internet site.

  95. Hi, Neat post. There is a problem together with your site in internet explorer, might check this? IE still is the marketplace leader and a large component to folks will omit your magnificent writing due to this problem.

  96. I love reading a post that will make people think. Also, thanks for allowing for me to comment!

  97. Thanks for the marvelous posting! I genuinely enjoyed reading it, you’re a great author.I will ensure that I bookmark your blog and will eventually come back someday. I want to encourage you to continue your great writing, have a nice day!

  98. I for all time emailed this website post page to all my associates, since if like to read it next my friends will too.

  99. canadian pharmacy world reviews: CIPA certified canadian pharmacy – canada drug pharmacy

  100. Hi, i think that i saw you visited my blog so i got here to go back the prefer?.I am trying to find things to improve my site!I assume its good enough to use some of your concepts!!

  101. Nice post. I used to be checking continuously this blog and I am inspired! Very useful information particularly the last part 🙂 I maintain such info a lot. I used to be seeking this particular info for a long timelong time. Thank you and good luck.

  102. My coder is trying to persuade me to move to .net from PHP. I have always disliked the idea because of the expenses. But he’s tryiong none the less. I’ve been using Movable-type on several websites for about a year and am nervous about switching to another platform. I have heard fantastic things about blogengine.net. Is there a way I can transfer all my wordpress content into it? Any kind of help would be really appreciated!

  103. I am extremely impressed with your writing skills and also with the layout on your blog. Is this a paid theme or did you customize it yourself? Either way keep up the nice quality writing, it’s rare to see a nice blog like this one these days.

  104. Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.

  105. http://pharmacieenligne.icu/# Pharmacie en ligne sans ordonnance

  106. Im not that much of a online reader to be honest but your blogs really nice, keep it up! I’ll go ahead and bookmark your site to come back down the road. All the best

  107. http://farmaciaonline.men/# farmaci senza ricetta elenco

  108. Live chat with hot webcam models – https://cupidocam.com/content/tags/cum! Meet people in online chat rooms wanting to with you

  109. https://itfarmacia.pro/# farmacia online miglior prezzo

  110. Wow, amazing blog layout! How long have you been blogging for? you make blogging look easy. The overall look of your site is great, let alone the content!

  111. WOW just what I was searching for. Came here by searching for %keyword%

  112. Viagra homme prix en pharmacie

  113. I am in fact thankful to the owner of this website who has shared this enormous article at at this place.

  114. Wonderful beat ! I wish to apprentice even as you amend your web site, how can i subscribe for a blog site? The account aided me a applicable deal. I have been tiny bit familiar of this your broadcast provided brilliant transparent concept

  115. great issues altogether, you just won a emblem new reader. What could you suggest in regards to your post that you simply made a few days ago? Any sure?

  116. Truly no matter if someone doesn’t know after that its up to other viewers that they will help, so here it happens.

  117. You made some decent points there. I looked on the internet for more info about the issue and found most individuals will go along with your views on this site.

Leave a Reply

Your email address will not be published. Required fields are marked *

Text Widget
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Vivamus quis neque vel quam fringilla feugiat. Suspendisse potenti. Proin eget ex nibh. Nullam convallis tristique pellentesque.