Loan

Credit News

House Construction Loan in India, Home Renovation Loan Ahmedabad, Commercial Property Loans India, Best Mortgage Deals, Personal Loans in Ahmedabad, MAS Rural Housing and Mortgage Finance Limited, housing loan eligibility calculator.#Housing #loan #eligibility #calculator


“Rural housing finance – Home Purchase Loan”

  • Housing loan eligibility calculator

    House Under Construction

    “A Dream Coming True”

    “House construction personal loan & Mortgage finance –

    Home Construction Loan”

  • Housing loan eligibility calculator

    A Renovated House

    “Better Living Conditions”

    “Home loan for renovation –

    Home Extension and Renovation Loan”

  • Housing loan eligibility calculator

    Affordable Project Loan

    “Catalyst in Housing Supply”

    “Project loan for financing builders –

    Construction Finance To Developers”

  • Housing loan eligibility calculator

    “An Ultimate Stability”

    “Cheapest Home and shop loan – Commercial Property Loan”

    Why choose us

    MAS has always endeavored to provide the most efficient financial services to the class of the customers it caters to. Some of the key differentiators which sets MAS apart are –

    Customized Loan
    • Customized Loans Especially To The Informal Class Of The Society
    • Expertise In Serving This Sector Since Over 2 Decaded
    Legal And Technical Compliance
    • Our Stringent Due Diligence Ensures Legal & Technical Compliance Of The Property
    Comprehensive Range Of Products
    • Home Loans For New Home Purchase, Construction, Extension & Renovation
    • Commercial Property Loan
    • Construction Finance To Affordable Housing Project Developers
    Affordable Interest In Its Class
    • MAS Strives To Offer The Most Affordable Rates To The Informal Customer

    Our offerings

    With diverse loans options in its arsenal, MAS is focused on fulfilling the requirements of lower income and middle-income groups of the society. We offer Financial Services for purchase or construction of home and commercial loans, extension and renovation of homes and construction finance for upcoming affordable housing projects.

    Housing loan eligibility calculator

    Housing loan eligibility calculator

    Housing loan eligibility calculator

    Housing loan eligibility calculator

    Housing loan eligibility calculator



  • Home Loan Eligibility Calculator November 2017 – Calculate Eligibility Online, home loan eligibility calculator.#Home #loan #eligibility #calculator


    Home Loan Eligibility Calculator

    Sample Home Loan Eligibility – Employment Status – Salaried | Annual Income – Rs. 5 Lacs | Property Value – Rs. 75 Lacs | Tenure – 20 Yrs

    • Self employed professionals/businessmen

    Home Loans Eligibility Factors

    Your monthly income will determine the chances of returning the loan and timely payments of EMIs. If you are salaried person, your monthly income and if you are self-employed, in that case your annual profit would decide your home loan maximum eligibility.

    This EMI is the monthly EMI, which you have already taken from any bank and and now you are still repaying it.

    It is considered on the amount left with you after deduction of any EMI amount that you are currently paying for any kind of loan. Your Home Loan Eligibility will be calculated after deductions of the EMIs that you are paying .

    Generally, the banks provide maximum upto 85% of loan against the value of property. Therefore, if you want a home loan for buying a property of Rs. 50 lakhs, the maximum amount you can get is 85% of that ie 42.50 lakhs .

    Banks also consider other specific criteria before accepting the property for granting a loan. The banks have specific norms to take consent such as the minimum area requirements for a flat which may be carpet area of built-up area. The banks also consider the age of the property, the location, reputation of the builder if it’s a builder property. The banks also conduct a minute analysis to check whether the property is disputed or clear, whether the bank is free from any encumbrances, etc.

    It is one of the most important factors that you should always consider before taking a home loan. Generally, it refers to the number of years for which you want to opt for loan. Longer the tenure, higher will be the interest paid and lower will be the amount of EMI and vice-a-versa.

    Presently, there are numerous banks which offer home loans, whether nationalized, private or foreign banks. Every bank offers different rate of interest according to the profile of the customer. Hence, it is really important that before selecting a bank to take a loan you must compare the quotes from various banks. It is always advisable to check full details in advance for doing a better comparison .

    E MI stands for equally monthly installment; you need to pay a particular amount for the Home loan that you have taken .

    The net loan amount for which you are eligible for your Home loan is said as Eligible Loan Amount. The loan amount that a Bank can sanction you.

    The credit history of an individual plays a really crucial role in deciding the amount of the loan. This report is generated by the credit card companies regarding the outstanding credit history of an individual. On the basis of this information the individual is given a credit score.

    Age also plays a crucial role in determining the eligibility for a home loan. One has to attain a minimum age of 21 to apply for a loan. The minimum age requirement may be different for different lending institution. The maximum age may vary from 58 to 65 years depending on the income source of the individual. The age also determines the tenure and EMI of the loan.

    If you want to increase the eligibility for having a loan you can have a co-borrower and int this way you can enhance your eligible income. Applying in the category of co-borrower increases your chances of loan approval without much complications. Although, banks allow only certain relationships to become the co-applicant. In this category friends and relatives who are not in direct blood relation are not eligible.



    Am I eligible, Welcome Home Loan, home loan eligibility.#Home #loan #eligibility


    Am I eligible

    Below is a quick guide with the minimum criteria you need to meet to be eligible to apply for the welcome home loan.

    Home loan eligibility

    You can have a maximum yearly income of up to $85,000 (before tax) for 1 person. Or a combined maximum yearly income of $130,000 (before tax) for 2 or more people.

    Home loan eligibility

    Home loan eligibility

    You will need a minimum 10% of the purchase price of the house you are wishing to buy.

    Home loan eligibility

    Home loan eligibility

    House price cap

    The price of the house you are buying with a Welcome Home Loan must be less than the regional house price cap.

    Home loan eligibility

    Home loan eligibility

    New Zealand citizen

    You are a New Zealand citizen or permanent New Zealand resident.

    Home loan eligibility

    Maximum income

    To be eligible for a Welcome Home Loan your household income for the last 12 months must have been $85,000 or less (before tax) if you are the sole borrower. If you are teaming up with one or more borrowers to buy a house, then you can have a combined household income up to $130,000 (before tax) in the last 12 months.

    Home loan eligibility

    Key bank lending criteria

    In addition to meeting the governments criteria for a Welcome Home loan, you will also need to meet the lending criteria of your bank or credit union before your loan can be made.

    Participating lenders may have slightly different lending criteria but they will include your financial ability to repay the loan, your level of debt, your credit history and the way you’ve conducted your bank accounts in the past.

    Home loan eligibility

    What about if I want to build a house?

    Some participating lenders allow you to build a new house with a Welcome Home Loan. Please ask your preferred lender if they do and what their criteria is.

    Home loan eligibility

    Maximum amount you can borrow

    The maximum amount you can borrow with a Welcome Home Loan depends on the region you are buying in. Each region has a house price cap. The maximum loan for that region is the house price cap less your 10% deposit.

    Home loan eligibility

    Other criteria

    • You must live in the home you are buying. A Welcome Home Loan cannot be used to buy an investment or rental property.
    • You cannot own any other property.
    • You will need to pay a Lender’s Mortgage Insurance (LMI) premium of 1% of the loan account. The lender may also apply a loan application fee. In most cases these fees can be built into the home loan. Talk to your participating lender to see what applies.
    • You are a New Zealand citizen or permanent New Zealand resident (holding a ‘Permanent Resident Visa’).


    FinAid, Calculators, Loan Calculator, housing loan eligibility calculator.#Housing #loan #eligibility #calculator


    housing loan eligibility calculator

    Housing loan eligibility calculator

    Housing loan eligibility calculator

    Housing loan eligibility calculatorHousing loan eligibility calculator

    Housing loan eligibility calculator

    Housing loan eligibility calculator

    Housing loan eligibility calculator

    Housing loan eligibility calculator

    Housing loan eligibility calculator

    Housing loan eligibility calculator

    Housing loan eligibility calculator

    Housing loan eligibility calculator

    Housing loan eligibility calculator

    Housing loan eligibility calculator

    Housing loan eligibility calculator

    Housing loan eligibility calculator

    This Loan Payment Calculator computes an estimate of the size of your monthly loan payments and the annual salary required to manage them without too much financial difficulty. This loan calculator can be used with Federal education loans (Stafford, Perkins and PLUS) and most private student loans. (This student loan calculator can also be used as an auto loan calculator or to calculate your mortgage payments.)

    This loan calculator assumes that the interest rate remains constant throughout the life of the loan. The Federal Stafford Loan has a fixed interest rate of 6.8% and the Federal PLUS loan has a fixed rate of 7.9%. (Perkins loans have a fixed interest rate of 5%.)

    This loan calculator also assumes that the loan will be repaid in equal monthly installments through standard loan amortization (i.e., standard or extended loan repayment). The results will not be accurate for some of the alternate repayment plans, such as graduated repayment and income contingent repayment.

    Loan fees are used to adjust the initial loan balance so that the borrower nets the same amount after the fees are deducted.

    Some educational loans have a minimum monthly payment. Please enter the appropriate figure ($50 for Stafford Loans, $40 for Perkins Loans and $50 for PLUS Loans) in the minimum payment field. Enter a higher figure to see how much money you can save by paying off your debt faster. It will also show you how long it will take to pay off the loan at the higher monthly payment. You can also calculate private student loan eligibility on comparison sites like Credible.

    The questions concerning enrollment status, degree program and total years in college are optional and are designed to evaluate whether the total debt is excessive. The total years in college should include the total number of years in college so far (or projected) corresponding to the loan balance, including previous degrees received.



    VA Home Loan: Do You Have What it Takes, home loan eligibility.#Home #loan #eligibility


    Money

    Home loan eligibility Home loan eligibility Home loan eligibility Home loan eligibility Home loan eligibility Home loan eligibility

    Home loan eligibility

    In order to obtain a VA home loan, you must first get a VA Home Loan Certificate of Eligibility. This certificate is issued only through the Veterans Administration, and is the first step towards applying for your loan. Veterans, active duty, guard or reserve, and military spouses potentially qualify for this certificate. Keep in mind that the Certificate of Eligibility, while necessary, only allows an eligible individual to apply for a home loan; it does not guarantee a loan approval.

    Learn more about this exclusive benefit, Download a free VA Loan Guide today.

    Eligibility for the Certificate is based on an individual’s (or a spouse’s) military service. Congress establishes eligibility with strict guidelines. Here are five common categories of those who normally qualify for a Certificate of Eligibility:

    • WWII: 9/16/1940 to 7/25/1947
    • Korean: 6/27/1950 to 1/31/1955
    • Vietnam: 8/5/1964 to 5/7/1975

    You must have at least 90 days on active duty and been discharged under other than dishonorable conditions. If you served less than 90 days, you may be eligible if discharged for a service connected disability.

    Peacetime – Service during periods:

    • 7/26/1947 to 6/26/1950
    • 2/1/1955 to 8/4/1964
    • 5/8/1975 to 9/7/1980 (Enlisted)
    • 5/8/1975 to 10/16/1981 (Officer)

    You must have served at least 181 days of continuous active duty and been discharged under other than dishonorable conditions. If you served less than 181 days, you may be eligible if discharged for a service connected disability.

    Service after 9/7/1980 (enlisted) or 10/16/1981 (officer)

    If you were separated from service which began after these dates, you must have:

    • Completed 24 months of continuous active duty or the full period (at least 181 days) for which you were ordered or called to active duty and been discharged under conditions other than dishonorable, or
    • Completed at least 181 days of active duty and been discharged under the specific authority of 10 USC 1173 (Hardship), or 10 USC 1171 (Early Out), or have been determined to have a compensable service-connected disability;
    • Been discharged with less than 181 days of service for a service-connected disability. Individuals may also be eligible if they were released from active duty due to an involuntary reduction in force, certain medical conditions, or, in some instances for the convenience of the Government.

    Gulf War – Service during period 8/2/1990 to date yet to be determined

    If you served on active duty during the Gulf War, you must have:

    • Completed 24 months of continuous active duty or the full period (at least 90 days) for which you were called or ordered to active duty, and been discharged under conditions other than dishonorable, or
    • Completed at least 90 days of active duty and been discharged under the specific authority of 10 USC 1173 (Hardship), or 10 USC 1173 (Early Out), or have been determined to have a compensable service-connected disability, or
    • Been discharged with less than 90 days of service for a service-connected disability. Individuals may also be eligible if they were released from active duty due to an involuntary reduction in force, certain medical conditions, or, in some instances, for the convenience of the Government.

    Active Duty Service Personnel

    If you are now on regular duty (not active duty for training), you are eligible after having served 181 days (90 days during the Gulf War) unless discharged or separated from a previous qualifying period of active duty service.

    Selected Reserves or National Guard

    If you are not otherwise eligible and you have completed a total of 6 years in the Selected Reserves or National Guard (member of an active unit, attended required weekend drills and 2-week active duty for training) and

    • Were discharged with an honorable discharge, or
    • Were placed on the retired list, or
    • Were transferred to the Standby Reserve or an element of the Ready Reserve other than the Selected Reserve after service characterized as honorable service, or
    • Continue to serve in the Selected Reserves

    Individuals who completed less than 6 years may be eligible if discharged for a service-connected disability.

    You may also be determined eligible if you:

    • Are an unremarried spouse of a veteran who died while in service or from a service connected disability, or
    • Are a spouse of a serviceperson missing in action or a prisoner of war

    Note: Also, a surviving spouse who remarries on or after attaining age 57, and on or after December 16, 2003, may be eligible for the home loan benefit. However, a surviving spouse who remarried before December 16, 2003, and on or after attaining age 57, must apply no later than December 15, 2004, to establish home loan eligibility. VA must deny applications from surviving spouses who remarried before December 6, 2003 that are received after December 15, 2004.

    Eligibility may also be established for:

    • Certain United States citizens who served in the armed forces of a government allied with the United States in WW II.
    • Individuals with service as members in certain organizations, such as Public Health Service officers, cadets at the United States Military, Air Force, or Coast Guard Academy, midshipmen at the United States Naval Academy, officers of National Oceanic Atmospheric Administration, merchant seaman with WW II service, and others.

    NEXT STEP: Download a free VA Loan Guide to get started using your VA home loan benefit.

    Home loan eligibility Home loan eligibility Home loan eligibility Home loan eligibility Home loan eligibility Home loan eligibility

    Home loan eligibility



    HOUSING LOAN ELIGIBILITY CALCULATOR #easy #loan


    #housing loan eligibility calculator
    #

    Housing Loan Eligibility Calculator

  • lend: give temporarily; let have for a limited time; “I will lend you my car”; “loan me some money”
  • loanword: a word borrowed from another language; e.g. `blitz’ is a German word borrowed into modern English
  • housing loan eligibility calculator – 6,000 Years

    6,000 Years of Housing, Revised and Expanded Edition

    The fascinating evolution of house forms from the Stone Age to the present.

    [T]his fascinating survey. any designer or builder who deals with housing would find a use for this book.’ —Fine Homebuilding

    ‘This is as essential reference to anyone in the field of housing, beautifully illustrated in the hand of the author.’ —Moshe Safdie and Associates, Inc.

    Part architecture, part history, and part anthropology, this encyclopedic book limns the story of housing around the world from the pre-urban dwellings of nomadic, semi-nomadic, and sedentary agricultural societies to the present. Ancient urban dwellings were inward-looking, ranged around a courtyard. Until fairly recently, these dwelling types survived in indigenous urban house forms in the Islamic world, India, China, and the Iberian peninsula and Latin America. After the collapse of the Roman Empire, however, outward-looking house forms replaced the ancient form in most of Europe and the New World.

    In the Middle Ages houses served both as homes and as places of work, but gradually the domestic and business lives of the inhabitants became separate. In the wake of the Industrial Revolution, profound changes in the residential development of the western world occurred: housing became segregated along socioeconomic lines and dwelling types polarized, with low-density, single-family houses at one extreme, and tall, high-density, multifamily tenements and apartments at the other. Side effects of America’s automobile-intensive suburban dream housing include inefficient land use, pollution, and urban decay. 6,000 Years of Housing chronicles how this came about, and suggests solutions based on a rich variety of historical precedents.

    “Eligibility”

    Porcelain was asked to judge a high school art contest. I went along with her to check out the emerging talent. My favorite, if I had to chose out of all the really great stuff, was this digital print by Eric McClure. The colors are surreal, the composition is near perfect, and the capture of movement and light doesn’t get too much better. McClure, if you’re reading this, I wanna buy it! Best of luck to you in the art world.

    Eligibility Costumes



    Home Loan Eligibility Calculator, Housing Loan Eligibility – ICICI Bank #school #loan #consolidation


    #home loan calculators
    #

    Home Loan Eligibility Calculator

    Calculate Home Loan Eligibility

    Your dream home is now within your reach with ICICI Bank Home Loans. We offer higher loan amount on your income. Your home loan eligibility can be further enhanced by including income of the co-applicant(s) of your Home Loan.

    Home Loan eligibility is calculated after considering various factors including monthly income, fixed monthly obligation, current age, retirement age etc. Your home loan eligibility can also be considered an indicator of your home loan affordability.

    Why should one calculate home loan eligibility through ICICI Bank website?

    Our eligibility calculator gives the most accurate estimate of home loan that you can borrow from ICICI Bank. Our website also allows you to apply for instant sanction of your loan, even if you have not finalised the property. Please click here to visit the Apply or Refer Online section on the website for benefits of applying online.

    • Internet Banking

    Explore the power of simpler and smarter banking. Bank online with over 250 services

  • Mobile Banking
    Bank on the go with our Mobile Banking services. Download app or use SMS
  • Pockets by ICICI Bank
    VISA powered Universal payment wallet. Download today
  • Find ATM/Branch

    Bank 24/7 through a widespread network of over 4,050 branches and 13,180 ATMs



  • Here s how banks calculate home loan eligibility. #mortgage #interest #rates


    #home loan eligibility
    #

    Here’s how banks calculate home loan eligibility

    Updated on: July 15, 2011

    T his article is aimed at clearing doubts over how a bank calculates your net income while calculating the eligibility for total home loan amount. Normally, all banks provide home loans up to 60 times your monthly net income.

    • You have a monthly in-hand (take home) salary as Rs 50,000 and you are looking for a home loan of about Rs 30 lakh.
    • Your gross monthly income might be much more than Rs 50,000 per month but that does not matter while calculating the net income.
    • You don’t have any other loan like car or personal loan on your name.
    • Bank rules say that you are eligible to get 60 times your monthly net income as loan.

    Well, all sounds good till the time you are talking to your bank executive or an agent over phone for your eligibility. They ask you for your net income, you answer Rs 50,000 per month and they immediately say that you are eligible for a loan that is 60 times your monthly net income, that is, Rs 30 lakh. You are excited that everything is going as per your expectations and think you will get the amount you were looking for.

    Click NEXT for more



    Eligibility Requirements #car #loan #calc


    #sba loan requirements
    #

    Below is a brief description of some basic eligibility requirements the SBA uses to determine whether or not a loan will be considered for a guaranty under the 7(a) loan program. The SBA also uses these basic standards to determine applicants’ eligibility for the specialty loan programs described in the previous section.

    Size Standards:. Small businesses must be independently owned and operated, not dominant in its field, and must meet employment and sales standards developed by the SBA. For example, wholesale businesses must not have more than 100 employees. Retail or service businesses must have average three-year annual sales of not more than $5 to $21 million. Manufacturing businesses should not have more than 500 employees, but in some circumstances, businesses up to 1,500 employees will be considered. Construction companies should have average three-year annual sales of not more than $7 to $17.5 million. Agricultural businesses must have less that $500,00 in annual sales. These are just some examples of the size limits determined by the SBA. If you are unsure whether or not your business would meet SBA size standards, contact your local agency at www.sba.gov/regions/states.html .

    Type of Business: Loan proceeds guaranteed by the SBA cannot be used for the following types of business activities:

    • Financing real property to be sold at a later date
    • Non-profit work
    • Gambling, speculation, lending or investment
    • Monopolies and businesses involved in pyramid schemes
    • Illegal business activities

    Purpose of Loan: Financing may be obtained to establish a new business or to assist in operating, acquiring, or expanding an existing business. Below is a list of accepted uses for SBA loan proceeds:

    • To purchase land or buildings
    • To cover new construction or the conversion of an existing facility
    • For long term working capital such as the payment of accounts payable and/or the purchase of inventory
    • To refinance existing business debt that is not already structured with reasonable terms and conditions
    • For short-term working capital needs including seasonal financing, contract performance, construction financing, export production, and financing against existing inventory and receivables

    Maturity: The rate at which SBA loans mature varies according to the economic life of the financed assets and the applicant’s ability to repay the loan. All loans will be repaid over the shortest possible time period. The following is a list of maximum time periods, varying according to the loans purpose.

    • Working capital loans can take up to 7-10 years to mature
    • Fixed asset loans can take up to 10-25 years to mature
    • Building construction loans can take up to 25 years to mature

    Interest Rates: the private lender negotiates Interest rates. They are tied to the prime rate and can be fixed or variable. The SBA has determined that rates on its guaranteed loans shall not exceed 2.25 percent over prime for loans shorter than seven years, and 2.75 percent over prime for loans longer than seven years. Lenders may charge a slightly higher interest rate for loans under $50,000. Most 7(a) loans are amortized using a variable rate.

    Guaranty Fee: When the SBA agrees to guaranty a loan, the lender must pay SBA a guaranty fee. Usually, this fee is then passed on to the borrower who can repay the fee from the proceeds of the loan. The fee is based on the loan’s maturity and the portion guaranteed by the SBA.

    • For loans with a 12 month or less maturity date, the fee is one-quarter of one percent of the guaranteed portion of the loan.
    • For loans with a maturity date greater than 12 months, the fee is three percent on the first $250,000 of the SBA’s share, 3.5 percent on the next $250,000 of the SBA’s share, and 3.875 percent on the final portion of the SBA’s share


    Creative Finserve: Home Loan Eligibility Calculator, Housing Loan Eligibility Calculator, Home Loan #rural #development #loan


    #housing loan eligibility calculator
    #

    Home Loan Eligibility Calculator

    Calculator

    • Emi Calculator
    • Extra Repayment Calculator
    • Home Loan Eligibility Calculator
    • Personal Loan Eligibility Calculator
    • Loan against Property Eligibility Calculator
    • Borrowing Power Calculator
    • Loan Comparison Calculator
    • Loan Repayments Calculator

    Home Loan Eligibility Calculator

    In Home Loan Eligibility Calculator you can easily determine the amount you are eligible for and the tenure you are looking at. Our Home Loan Eligibility Calculator will help you to quickly determine the monthly installments you are likely to pay on repayment of your Home Loan. This is a unique Eligibility Calculator where you can not only find your Eligibility but can also evaluate yourself the total interest payable at the end of the Loan tenure. This is nothing but amortization chart where it shows the amount of principal and the amount of interest that comprise each payment (EMI).

    Home Loan is offered to individuals who wish to purchase a house. The property is mortgaged with the lender as a security till the repayment of home loan is done .The bank or financial institute will hold the title or deed to the property till the home loan is repaid in total. A home loan will have an either a fixed or floating interest rate which is paid monthly along with the principal amount. It’s a cumbersome process to evaluate the interest you have paid in Home Loan. With our Home Loan Eligibility calculator we have made it easy to understand the mechanism of Home Loan Eligibility Calculator.

    Home Loan Eligibility Calculator allows a borrower to project how much the monthly payment will be on a loan and how long it will take to repay the borrowed amount. A Home Loan calculator factors in the repayment of interest and principal on the loan to determine how long it will take to pay off. This is a good tool for potential borrower to use to see if they will be able to afford the monthly payment on the Home loan. To receive the most accurate number, a borrower would have to ask the lender for the interest rate that they qualify for.

    Our Home Loan Eligibility Calculator offer insight into how much you might be able to borrow and what your repayments would be. Start calculating now by filling in the fields or if you want to,

    Home Loan Eligibility Calculator is determined by various factors such as income, employment status, tenure and so on. Our aim is to provide affordable housing loans to as many individuals and families as possible.

    The Home Loan Eligibility calculator provides you with estimated Loan amount, and your monthly repayments to Home Loan. In Home Loan Calculator you can adjust the variables within the calculator. For example, by changing the interest rate you can see how this impacts the estimated repayments

    Use our Home Loan Eligibility Calculator as a guide before applying for a Home Loan as it lets you to understand what would be the loan amount you are eligible for and what would be your EMI.

    If you are not satisfied with the calculator output please call us for a personalized solution for your requirement.

    Important information

    All applications for credit are subject to Banks normal credit approval criteria. Terms and conditions are available on application of every bank in which loan will be applied.

    This is an estimate and it is provided for illustrative purposes only and is based on the accuracy of information provided. It does not constitute a quote. To apply for a loan you must complete an application.

    The repayment amount and total interest payable excludes Processing fees and Mortgage Insurance / Life Insurance.

    If a Variable Rate Loan is selected, the interest rate will be subject to market change throughout the term of the Loan.

    Results are based on amortised scheduled repayments and, once any discount or fixed rate period expires, the current variable rate or the variable rate is applied for the remainder of the loan term (unless another fixed rate period is taken).

    Creative Finserve will not store the information provided in this calculator.

    Home Loan Eligibility Calculator FAQ’s



    Credit – Student Loans, How Credit Scores Affect Student Loan Eligibility #study #loan


    #bad credit student loans
    #

    Credit and Student Loans

    Credit plays an important role in determining eligibility for private student loans. Direct PLUS loans or Direct Grad PLUS Loans. Direct Subsidized and Unsubsidized loans and Perkins loans are not based on credit, but cannot be obtained if the borrower is in default on another federal student loan or owes a refund on a Title IV grant such as the Pell grant.

    Yes. Direct Student Loans are not based on the student s credit history or credit-worthiness. A student wishing to borrow a a Grad PLUS loan or a parent wishing to borrow a PLUS loan with adverse credit can borrow as long as they are able to obtain a credit worthy co-signer. In the PLUS program, a co-signer is referred to as an endorser.

    Students who need to utilize private student loans will almost always need a co-signer. Private student loans, like other unsecured loans take other factors into consideration like income and debt when determing eligibility. Most students will not meet the minimum income requirements. However, some students who have established careers and good credit may qualify. If the student wishing to borrow is new to credit, has no or little income or a lot of debt relative to income, it is highly likely the student will need a co-signer to borrow a private student loan.

    Often, a student or parent will ask a family member with good credit to co-sign or endorse their loan. However, any creditworthy individual can co-sign another s loan. As long as the co-signer meets the citizenship and credit requirements established for the loan being sought, that person can co-sign.

    What are the Responsibilities of a Co-signer?

    By co-signing a student loan, the co-signer is assuming the responsibility to repay the loan in the event the primary borrower fails to do so. As such, a co-signer is assuming all of the same obligations of the primary borrower. As a co-signer, it s important to consider your ability to assume the financial responsibility of repaying the borrower s loan in the event they cannot do so.

    Co-signers can be released in some circumstances if the loan program provides such a release. Release from the co-signer obligation usually involves the student making a number of regular on-time payment and meeting other credit criteria such as minimum income requirements and a satisfactory ratio of debt to income.

    What is Good Credit ?

    There s no hard and fast answer to this question. Private student loan lenders establish their own underwriting criteria for the loans they offer. Underwriting refers to the requirements a lender sets for a borrower to qualify for a particular loan program. These criteria can include the borrower s credit score based on reporting from one (or more) of the three major credit bureaus. The borrower’s credit report and score give the lender the ability to review such items as collections, judgments, payment history, indebtedness and other factors in determining whether or not to make an offer of credit. These credit criteria apply to co-signers as well. Each lender sets their own criteria.

    Borrowers of Grad PLUS and Parent PLUS will likely be approved provided they have no adverse credit history. The borrower is deemed to have an adverse credit history if there has been a default determination, bankruptcy discharge, foreclosure, repossession, tax lien, wage garnishment, or write-off of a Title IV debt within the last five years or a current delinquency of 90 or more days on any debt.



    Home Loan Eligibility Calculator #government #loans


    #home loan eligibility
    #

    Home Loan Eligibility Calculator

    Home Loan Eligibility Calculator will help the borrower to understand his loan eligibility i.e. the approx. amount of home loan which he will be eligible on the basis of the income and tenure of home loan chosen by him.

    Lenders normally grant home loan up to maximum of 80% (90% for loan amount below Rs 20 lakhs) of the agreement value of the property as a home loan in India. The overall home loan eligibility is a product of several factors like borrowers occupation (whether salaried / self-employed), his disposable income, number of dependents, the interest rate charged by the bank and the tenure of the loan.

    The rate of interest on home loan not only influences the amount of EMI, but also loan amount eligibility. A higher interest rate can bring down the loan amount eligibility and vice versa, because lenders consider a certain percentage of individual’s income as available for the payment of EMI’s on all loans. This percentage of income which a lender considers as available for servicing can vary from person to person depending on his level of earnings and current and future liabilities.

    Making earning spouse, parents or children as co-applicant and co-borrowers to the housing loan can enhance your home loan eligibility. The borrower can also enhance his home loan eligibility by increasing the tenure of the housing loan.

    An illustration below can help one to understand how a change in tenure can effectively increase the home loan eligibility.

    Illustration:

    Mr. Sharma earns a monthly salary of Rs. 1,00,000/-. He wants to take a home loan for purchasing a property and has no other outstanding loan on his name at present. Assuming that he has satisfied all other criteria and the bank has considered 40% of his net income as available for payment of EMI, hence he will have Rs. 40,000 p.m. for payment of home loan EMI.

    If current rate of interest of the bank is 10.5% p.a. for 15 years tenure, Mr. Sharma will be eligible for approx. Rs. 36.19 lakhs at an EMI of Rs. 1105 per lakh.

    Now, if Mr. Sharma wants to increase his home loan eligibility, he has an option to opt for a longer tenure say 20 years. So at same rate of interest of 10.5% p.a. he will be eligible for approx. Rs. 40.06 lakhs at an EMI of Rs. 998 per lakh.

    To get a fair idea about home loan eligibility amount, the borrower can use our simple home loan eligibility calculator with very user-friendly guiding tools. As the final home loan amount is dependent on various factors, our home loan eligibility calculator will display a range for loan eligibility amount.

    Note: All calculators and comparators are made based on certain assumptions which may not be true in your case. You should consult your personal financial advisor before taking any decision. Apnaloan disclaims any responsibility for any decision taken based on these calculators and comparators.



    ICICI Home Loan – Interest Rates August 2017, Apply Online #icici #home #loan, #icici #home #loan #interest #rates, #instant #icici #home #loan, #apply #for #icici #home #loans, #eligibility, #documents


    #

    ICICI Bank Home Loan

    ICICI Bank Home Loan offers you Home Loan for following purposes:-
    1. Home Loan – If you want to purchase a new home then you can apply individually or jointly.
    2. Home Improvement Loan- For your home improvement you can take the Home Improvement Loan from ICICI Bank.
    3. EMI Under Construction- EMI Under Construction helps you to make payments in EMI, in a partly sanctioned loan for an under construction project.
    4. Balance Transfer- ICICI Bank Home Loan gives you facility to transfer your running loan from an other Bank
    5. Top-Up Loan- ICICI Bank Home Loan facilitates the Top-Up Loan, an additional funding against the security of your property.

    ICICI Bank Express Home loan offers online sanction of loan within 8 hours. ICICI Bank offers 9.40% interest rates for women borrowers. Maximum tenure period of 30 years. Borrowers can switch to ICICI bank with Top Up facility. ICICI Bank well known for its high eligibility & lower interest rates & sanction time.

    Borrowers can also check the approved projects list of ICICI Bank for Agra, Ahmedabad, Amritsar, Bengaluru, Biwadi, Bhopal, Chandigarh, Chennai, Coimbatore, Dehradun, Faridabad, Gandhi Nagar, Ghaziabad, Goa, Greater Noida, Gurgaon, Hyderabad, Indore, Jaipur, Kochi, Kolkata, Lucknow, Ludhiana, Mangalore, Mohali, Mumbai, Mysore, Nagpur, Nashik, Navi Mumbai, New Delhi, Noida, Panipat, Pune, Raipur, Sonepat, Thane, Trivandrum, Vadodara, Visakhapatnam.

    ICICI Bank Home Loan Interest Rates January 2017 (Updated on 03 May 2017)

    Floating Interest Rates for Women

    Fixed Rates for Women (5 10 Year)

    Fixed Interest Rates for women upto 30 Years

    Interest Rates for Weaker Section

    Floating Interest Rates for Others (Salaried Self Emp)

    Fixed Rates for Others (2, 3 10 Year)

    Fixed Interest Rates for others upto 30 Years

    Features & Benefits of ICICI Bank Home Loan

  • Attractive Home Loan Rates
  • No charges on part pre-payment of your Home Loan
  • Top Up & Home Improvement Loan facility available on existing Home Loan
  • Home loan amounts suited to your needs
  • Home Loan tenure upto 25 years
  • Simplified Documentation
  • Doorstep Delivery of home loan papers
  • Sanction approval without having selected a property.
  • Free Personal Accident Insurance policies
  • Insurance options for your home loan at attractive premium

    Trends of last 5 Years ICICI Home loans vs RBI Repo rate

    Change by RBI in Rate Cut

    0.5% of loan amount as Administrative Fee or Rs. 2,000, whichever is higher

    1) Application form with photograph
    2) Identity residence proof
    3) Latest salary slip
    4) Form 16
    5) Last 6 months bank statements
    6) Processing fee cheque

    1) Application form with photograph
    2) Identity residence proof
    3) Proof of business existence
    4) Profile of the Business
    5) Last 3years ITR
    6) Last 6 months bank statements
    7) Processing fee cheque

    Available Products of ICICI Bank are :
    ICICI Personal Loan
    ICICI Home Loan
    ICICI Car Loan
    ICICI Credit Card

    Disclaimer : Please note that the interest rates and eligibility criteria given here are based on the market research. To enable the comparisons certain set of data has been reorganized / restructured / tabulated. Users are advised to recheck the same with the individual companies / organizations. This site does not take any responsibility for any sudden / uninformed changes in interest rates.

    Compare Home Loan Rate of interest

    • Disclaimer. Information is sourced from respective Banks websites. We don’t provide Loans on our own but ensures your information is sent to bank which you have opted for and we do not charge any fee from our customers. We don’t do short term loans. Deal4loans has no sales team on its own and we just help you to compare loans. We do not provide any dsa of Banks. All loans are on discretion of the associated Banks. Read More


  • VA Certificate of Eligibility, Request Certificate of Eligibility 2015, DD Form-214, Form SF-180, Military Records, – request for a certificate of eligibility.#- #request #for #a #certificate #of #eligibility


    #

    VA Certificate of Eligibility 2015

    - request for a certificate of eligibility

    - request for a certificate of eligibility

    - request for a certificate of eligibility

    3 ways to get the VA Certificate of Eligibility in 2015

    We can obtain a VA Certificate of Eligibility for you by using the ACE (Automated Certificate of Eligibility) or Web LGY system. This is a web-based application that allows us to input data about you and obtain an eligibility determination quickly. If eligibility is established, we print out the VA Certificate of Eligibility to submit with the guaranty package.

    • Send the completed VA Form 26-1880, Request for a VA Certificate of Eligibility, and any supporting evidence such as proof of your military service to:

    251 N. Main Street

    Winston-Salem, NC 27155

    Please download and follow the instructions in this document: Obtaining Your Certificate of Eligibility Online.

    VA Certificate of Eligibility 2015 Guidelines

    If you were separated after January 1, 1950, the appropriate documentation of your military service would be DD Form-214, Certificate of Release or Discharge from Active Duty. If you were discharged after October 1, 1979, DD Form 214, copy 4 would be appropriate. A photocopy of DD Form-214 will suffice. Do not submit an original document.

    If you served in the Selected Reserve you must provide documentation sufficient to establish that you served a minimum of 6 years with points earned for weekend drills or active duty for training and received an honorable discharge. Since there is no uniform document similar to DD Form-214 for proof of service in the Selected Reserve, a number of different forms may be accepted.

    If you are on regular active duty and have not been previously discharged from active duty service, you must submit a statement of service which includes the name of the issuing authority (base or command), and is signed by or at the direction of an appropriate official. The statement must identify you (SSN), and provide your date of entry on active duty and the duration at any time lost. If you remain on active Selected Reserve duty, the statement of service should be from your unit CO and should cite the length of time you have served with the reserve unit.



    PMP Certification Training, Jobs, Salary and Exam Eligibility #pmp, #certification, #project #management #professional, #salary, #eligibility #requirements, #course, #online


    #

    PMP Certification

    PMP Certification is the preeminent credential for Project Managers.

    Project Management Professional (PMP) certification demonstrates the knowledge and experience to successfully bring business and IT projects to completion. PMP certified professionals have the project management expertise and managerial skills to complete projects on time, within scope and under budget.

    The Project Management Institute (PMI) sets forth strict eligibility requirements before you can take the PMP exam – see the current PMP eligibility requirements below. Beyond the required education and experience, Project Management Professionals pledge adherence to a code of professional conduct, and periodically satisfy continuing education requirements to keep their PMP certificate active.

    PMP certification is widely recognized as the pinnacle of project management credentials by businesses and government agencies worldwide, across all industries. Several Fortune 500 companies require their PMs, managers and IT leads to be PMP certified. PMP certification is a true differentiator; project managers without a PMP are at a competitive disadvantage.

    If you’re an experienced project manager looking to solidify your skills, stand out to employers and maximize your earning potential, PMP certification is the credential for you.

    Skills Measured by PMP Certification

    Here are some of the key skills and knowledge areas covered in the PMP certification exam. Project Management Professionals can:

    • Lead and direct cross-functional teams to successfully deliver complex projects.
    • Complete projects within the constraints of schedule, budget and scope.
    • Understand advanced project management concepts and processes.
    • Apply PM methodologies and best practices to complete projects.
    • Adhere to a rigid code of ethics and professional conduct.

    PMP Certification Exams

    Candidates must pass one exam to become PMP certified:

    • PMI PMP Certification Exam (PMBOK 4th Edition)

    PMP Exam Time Limit: 4 hours
    Exam Length: 200 questions
    Passing Score: 137 correct answers (68.5%)
    PMP Exam Cost: $405 USD for PMI Members | $555 USD for Non-Members
    Test Format: Computer-based; Multiple choice questions with four possible answers (A through D); PMP testers get their score plus a detailed performance report immediately upon exam completion.

    Breakdown of PMP Certification Exam by project management domain:

    Project Management Domain

    Approximate % of PMP Exam Questions

    PMP Certification Eligibility Requirements

    You must meet one of the following prerequisite sets to sit for the PMP certification exam. PMP candidate prerequisites are checked at random by existing Project Management Professionals.

    • A four-year degree (bachelor’s or international equivalent) plus 3 or more years of project management experience, with 4500 hours leading and directing projects, and 35 hours of PMI-approved project management education
      OR
    • A secondary diploma (high school or international equivalent) with at least 5 years of project management experience, with 7500 hours leading and directing projects, and 35 hours of PMI-approved project management education

    If you do not meet the PMP eligibility requirements, you still may qualify for PMI’s associate-level project management credential – the Certified Associate in Project Management (CAPM). The CAPM certification is a powerful credential in its own right, with salaries averaging close to $100,000 per year.

    The project management degree programs below can help you satisfy the PMP eligibility requirements and prepare for the PMP certification exam.

    PMP Training Programs, Degrees Certificates

    Admissions advisors can provide more info about PMP programs and curriculum, admissions start dates, career placement, tuition costs, personalized financial aid scholarship options.

    Got targeted learning goals? Many schools offer individual courses and certificates from accredited programs.

    • Includes Certification Preparation for:
      • PMI CAPM (Certified Associate of Project Management)
      • CompTIA Project+ Certificate
    • Gain the Skills to Pursue Careers in IT Project / Information Systems Management
    • Select, Manage and Close Projects On-Time, Under Budget and to Specifications
    • Use Technology to Solve Business Problems
    • Explore the Lucrative Field of IT Consulting
    • Forecast and Capitalize on Tech Innovation


    Request More Info

    • Prepare for a Range of IT Careers and Build Foundational Skills for Management Roles
    • Hands-On Training in IT Support, Networking, Security, Hardware Software Engineering
    • Includes Exam Prep for In-Demand Certifications from Microsoft CompTIA
    • Explore Hot IT Trends like Cloud Computing, Virtualization and Storage Management
    • Other AS-ITM Tracks: Network Security Computer Information Technology


    Request More Info

    • Prepare to Lead Organizations in the Planning, Development, Operation Management of IT
    • Applied Managerial Accounting, Economics, Finance, Marketing and Decision-Making
    • Use IT to Foster a Real Competitive Advantage
    • Learn to Manage Relational Database Systems
    • Networking Telecommunication Management
    • IT Innovation’s Impact on Strategy Operations
    • IT Management and Team Leadership Training

    Find Project Management Schools

    PMP Certified Jobs

    PMP training and certification qualifies you for a variety of lucrative job roles including:

    PMP Certification Salary

    Average salary for PMP certified professionals and related project management certification holders:

    • CompTIA Project+ salary: $76,279
    • PMI CAPM: Certified Associate of Project Management: $76,525
    • PRINCE2 Certified Project Manager: $99,657
    • CSM: Certified ScrumMaster: $108,689
    • PMI PMP: Project Management Professional: $116,094
    • PMI-ACP: Agile Certified Practitioner: $119,349
    • PMI PgMP: Program Management Professional: $126,515
    • PMI-RMP: Risk Management Professional: $126,569

    Yearly wage by project management certification.
    Source: 2016 IT Skills Salary Report by Global Knowledge

    Related Certifications

    PMP Career Paths



    Student Loans – Eligibility #rv #loan


    #how to apply for a student loan
    #

    Find Out if you are Eligible for a Student Loan

    To qualify, you must:

    To continue receiving student loans and grants each year you are in school, you must maintain satisfactory grades.

    • be a Canadian citizen, a permanent resident of Canada or designated as a protected person;
    • be a permanent resident of a province or territory that issues Canada Student Loans (please note that the Northwest Territories, Nunavut and Quebec have their own student loan programs. Contact your provincial or territorial student financial assistance office for more information;
    • Demonstrate financial need;
    • be enrolled in at least 60 percent of a full course load (40 percent for students with permanent disabilities) if you are a full-time student;
    • be enrolled in 20-59 percent of a full course load if you are a part-time student (if you are a student with permanent disabilities and you are studying between 40-59 percent of a full course load, you can choose to be considered a student in full or part-time studies);
    • be enrolled in a degree, diploma or certificate program offered by a designated post-secondary school that runs for at least 12 weeks within a 15-week period;
    • pass a credit check if you are 22 or older and are applying for your first Canada Student Loan;
    • not have exhausted your maximum lifetime limit for financial assistance (including interest-free status).

    Students who have had a student loan before

    There are lifetime limits on the amount of student financial assistance you can receive. This includes both loans and interest-free periods for each loan. Once a lifetime limit has been reached, interest starts to accumulate. You will also have to start paying back the loan 6 months after you graduate or leave your studies.

    When you apply and qualify for student financial assistance, you are automatically assessed for Canada Student Loans and Canada Student Grants .

    • Full-time students who received loans on or after August 1, 1995, are eligible to receive student financial assistance for no more than 340 weeks .
    • Full-time students enrolled in doctoral studies are eligible to receive student financial assistance aid for no more than 400 weeks .
    • Students with a permanent disability and those who received Canada Student Loans before August 1, 1995, are eligible to receive student financial assistance for no more than 520 weeks .

    Date modified: 2013-07-23



    Mortgage Basics: Loan Eligibility #aussie #loans


    #home loan eligibility
    #

    Mortgage Basics: Loan Eligibility

    “How much house can I afford?” It’s a critical question that every homebuyer faces, and one that many people answer by going to a lender and taking out the largest mortgage that the lender will approve. While this strategy will help you get the largest, most expensive house that you can qualify for, being eligible for a loan and being able to afford the property aren’t necessarily the same thing. (For more insight, see Mortgages: How Much Can You Afford? )

    From a lender’s perspective, loan eligibility is based on a formula. The most common rule of thumb is that your monthly mortgage payment should not exceed 28% of your gross income. This calculation includes more than just the base price of the house. Consider, for example, a $50,000 gross income. Based on 28% of that amount, the mortgage payment would be $14,000 per year or $1,166.66 per month. That $1,166.66 needs to cover all four potential components of a mortgage: principal. interest. taxes and insurance. often referred to as PITI .

    If your credit history is good, the lender may let you take out a mortgage with a monthly payment equal to 30% or even 40% of your gross monthly income. In our example, 40% would get you a yearly mortgage payment of $20,000 or $1,666.66 per month. The $500 per month difference would let you afford a more expensive home, but you should take a close look at your finances before making such a decision.

    Gross Vs. Net Income

    Although mortgage eligibility is based on gross income, your monthly payments are made from your net income. This means that your ability to afford the payments can look quite different once the mortgage actually needs to be paid. That $50,000 gross income is reduced to $36,000 net after 28% goes to pay taxes. Taking $20,000 out of that to pay the mortgage leaves you $16,000 to live on for the year. On a monthly basis, that’s $1,333.33. Factor in a car payment, credit cards and student loans to cover the cost of your education or tuition bills for your children and there might not be much left over at the end of the month. Although you may be able to qualify for that $1,666.66 loan on paper, actually taking it might not be the best financial move that you could make. On the other hand, if you are debt free and have a rainy-day fund stashed away in case of emergencies, a mortgage that takes up such a large chunk of your gross income may not be a problem. (For more insight, read Are You Living Too Close To The Edge? )

    Another rule of thumb to consider is that your debt-to-income ratio should not exceed 36% of your gross income. To calculate your maximum monthly debt based on this ratio, multiply your gross income by 0.36 and divide by 12. For example, if you earn $50,000 per year, your maximum monthly debt expenses should not exceed $1,500, which would include your mortgage. Referring back to our example, the $1,333.33 monthly mortgage payment might be enough to break the bank for someone with heavy debts or big spending habits, while the $1,666.66 monthly payment is just slightly more than the 36% of gross income and perhaps well within the means of a prudent spender.

    Determining Eligibility

    Sitting down with a calculator will give you a good idea of where you stand in relationship to the loan amount you can probably qualify for and the debt-to-income ratio that you can actually afford. In the excitement to purchase a new home, don’t lose sight of the reality that lenders are in business to make loans. They will let you borrow the maximum amount that you can qualify for because they charge interest on that amount. The more money you borrow, the more money the lender earns in interest. Also, many lenders sell their loans to investors, so the lender itself many not stand to lose anything at all if you default on your loan.

    House Poor

    Taking out a large loan often results in a situation referred to as being ” house poor “. Being house poor is generally not a good idea. While you may be able to make the monthly mortgage payments and even pay your other bills too, you are one large expense away from disaster. Should you need to make a major repair to your car, purchase a new appliance, or encounter any other scenario that requires a substantial outlay of cash, you are going find yourself in a tough spot and could end up losing your home, filing bankruptcy. or both.

    Play It Safe

    Regardless of the size of the loan a lender offers, don’t buy more house than you can afford. If you purchase a home and, after making the payments for a few years, find that you have considerable discretionary income left or have substantially increased your income since making the purchase, you can always move. Of course, if you like where you live, you can make extra payments and potentially retire your mortgage early.



    How do I obtain a VA Home Loan Certificate of Eligibility or a duplicate of a certificate? VA Home Loan Certificate of Eligibility #loan #consolidation #companies


    #home loan eligibility
    #

    How do I obtain a VA Home Loan Certificate of Eligibility or a duplicate of a certificate? VA Home Loan Certificate of Eligibility

    Apply online

    To get your Certificate of Eligibility (COE) online, please go to the eBenefits portal at this link. If you already have login credentials, click the Login box, and if you need login credentials, please click the Register box and follow the directions on the screen. If you need any assistance please call the eBenefits Help Desk at 1-800-983-0937. Their hours are Monday-Friday, 8am to 8pm EST.

    Apply through your lender

    Most lenders have access to the Web LGY system. This Internet-based application can establish eligibility and issue an online COE in a matter of seconds. Not all cases can be processed through Web LGY – only those for which VA has sufficient data in our records. However, Veterans are encouraged to ask their lenders about this method of obtaining a certificate.

    Apply by mail

    Surviving Spouses

    Spouses must apply by mail using VA Form 26-1817, Request for Determination of Loan Guaranty Eligibility – Unmarried Surviving Spouses. If your Veteran spouse died after service, VA must determine that the death was due to a service-connected disability. Please allow 2-3 months for this process unless you know that the decision on service-connected death has already been made.

    If you can’t print the form, just call 1-888-768-2132 and follow the prompts for Eligibility and we will mail the form to you.



    Home loan eligibility #stafford #loan


    #home loan eligibility
    #

    Welcome to the USDA Income and Property Eligibility Site

    This site is used to determine eligibility for certain USDA home loan programs and the USDA Satellite Grant Program. In order to be eligible for many USDA loans, household income must meet certain guidelines. Also, the home to be purchased or served must be located in an eligible rural area as defined by USDA.

    To learn more about a USDA home loan program, click on the Loan Program Basics link on the left side of this screen and select one of USDA’s home loan programs.

    To determine if a property is located in an eligible rural area, click on the Property Eligibility link on the left side of the screen and select a Rural Development program. When you select a Rural Development program, you will be directed to the appropriate property eligibility screen for the Rural Development loan program you selected.

    To determine income eligibility of an applicant/household, click on the Income Eligibility link on the left side of the screen and select a Rural Development program. When you select a Rural Development program, you will be directed to the appropriate income eligibility screen for the Rural Development loan program you selected.

    To determine if a property is eligible to receive discounted satellite service under the Satellite Grant Program, click on the Satellite Grant Program link on the left side of the screen to view a map. You will be able to find your address on the map to determine if you meet the eligibility requirements of this program.

    To find out how to apply for a Rural Development Loan, click on the Contact Us link on the left side of the screen to view a map. Use the map to determine the eligibility of your address.



    Home Loan Eligibility – Online HL Eligibility Calculator #home #loans #calculator


    #home loan eligibility
    #

    Home Loan Eligibility Details

    Home Loans are secured advances made by lenders to borrowers to meet their financial requirements for the purchase of a house or flat or property (land). It could be a home bought for residential or investment purposes.

    Eligibility Criteria for Home Loans:

    Home Loan Documentation:

    Ways to increase eligibility:

    • Maintain a good credit score – healthy repayment habits on credit cards and existing loans
    • Display stability in income, employment, residence
    • Include co-applicants to supplement income
    • Provide a guarantor to improve credibility
    • Repay existing loans
    • Buy top-tier properties/ buy from reputed builders
    • Buy a new property vs. old one

    Check Your Home Loan Eligibility:

    Bank Bazaar enables users to check how they fare on eligibility by inputting key background information relating to income, age, employment,existing loans etc.

    The result are provided with free, instant quotes on the best home loan offers available to them based on data provided.

    Users can then compare their offers across various lenders and apply for the loan of their choice, availing of exclusive offers provided by Bank Bazaar to its users through collaborations with leading institutions.



    Home Loan Eligibility Calculator #home #equity #loan #calculator


    #home loan eligibility
    #

    Home Loan Eligibility Calculator

    Home Loan Eligibility Calculator will help the borrower to understand his loan eligibility i.e. the approx. amount of home loan which he will be eligible on the basis of the income and tenure of home loan chosen by him.

    Lenders normally grant home loan up to maximum of 80% (90% for loan amount below Rs 20 lakhs) of the agreement value of the property as a home loan in India. The overall home loan eligibility is a product of several factors like borrowers occupation (whether salaried / self-employed), his disposable income, number of dependents, the interest rate charged by the bank and the tenure of the loan.

    The rate of interest on home loan not only influences the amount of EMI, but also loan amount eligibility. A higher interest rate can bring down the loan amount eligibility and vice versa, because lenders consider a certain percentage of individual’s income as available for the payment of EMI’s on all loans. This percentage of income which a lender considers as available for servicing can vary from person to person depending on his level of earnings and current and future liabilities.

    Making earning spouse, parents or children as co-applicant and co-borrowers to the housing loan can enhance your home loan eligibility. The borrower can also enhance his home loan eligibility by increasing the tenure of the housing loan.

    An illustration below can help one to understand how a change in tenure can effectively increase the home loan eligibility.

    Illustration:

    Mr. Sharma earns a monthly salary of Rs. 1,00,000/-. He wants to take a home loan for purchasing a property and has no other outstanding loan on his name at present. Assuming that he has satisfied all other criteria and the bank has considered 40% of his net income as available for payment of EMI, hence he will have Rs. 40,000 p.m. for payment of home loan EMI.

    If current rate of interest of the bank is 10.5% p.a. for 15 years tenure, Mr. Sharma will be eligible for approx. Rs. 36.19 lakhs at an EMI of Rs. 1105 per lakh.

    Now, if Mr. Sharma wants to increase his home loan eligibility, he has an option to opt for a longer tenure say 20 years. So at same rate of interest of 10.5% p.a. he will be eligible for approx. Rs. 40.06 lakhs at an EMI of Rs. 998 per lakh.

    To get a fair idea about home loan eligibility amount, the borrower can use our simple home loan eligibility calculator with very user-friendly guiding tools. As the final home loan amount is dependent on various factors, our home loan eligibility calculator will display a range for loan eligibility amount.

    Note: All calculators and comparators are made based on certain assumptions which may not be true in your case. You should consult your personal financial advisor before taking any decision. Apnaloan disclaims any responsibility for any decision taken based on these calculators and comparators.



    Eligibility – Home Loans #va, #veterans #affairs, #home #loan, #home #loan #guaranty, #home #loan #eligibility, #va #home #loan #benefits, #qualify #for #a #va #home #loan


    #

    Attention A T users. To access the menus on this page please perform the following steps. 1. Please switch auto forms mode to off. 2. Hit enter to expand a main menu option (Health, Benefits, etc). 3. To enter and activate the submenu links, hit the down arrow. You will now be able to tab or arrow up or down through the submenu options to access/activate the submenu links.

    Home Loans

    Eligibility

    You must have suitable credit, sufficient income, and a valid Certificate of Eligibility (COE) to be eligible for a VA-guaranteed home loan. The home must be for your own personal occupancy. The eligibility requirements to obtain a COE are listed below for Servicemembers and Veterans, spouses, and other eligible beneficiaries.

    VA home loans can be used to:

    • Buy a home, a condominium unit in a VA-approved project
    • Build a home
    • Simultaneously purchase and improve a home
    • Improve a home by installing energy-related features or making energy efficient improvements
    • Buy a manufactured home and/or lot.

    Eligibility Requirements for VA Home Loans

    Servicemembers and Veterans

    To obtain a COE, you must have been discharged under conditions other than dishonorable and meet the service requirements below:

    Qualifying Wartime Peacetime Periods

    90 days of active service

    • Six years of service in the Selected Reserve or National Guard, AND
      • Were discharged honorably, OR
      • Were placed on the retired list, OR
      • Were transferred to the Standby Reserve or an element of the Ready Reserve other than the Selected Reserve after service characterized as honorable, OR
      • Continue to serve in the Selected Reserve

    *If you do not meet the minimum service requirements, you may still be eligible if you were discharged due to (1) hardship, (2) the convenience of the government, (3) reduction-in-force, (4) certain medical conditions, or (5) a service-connected disability.

    Spouses

    The spouse of a Veteran can also apply for home loan eligibility under one of the following conditions:

    • Unremarried spouse of a Veteran who died while in service or from a service connected disability, or
    • Spouse of a Servicemember missing in action or a prisoner of war
    • Surviving spouse who remarries on or after attaining age 57, and on or after December 16, 2003
      (Note: a surviving spouse who remarried before December 16, 2003, and on or after attaining age 57, must have applied no later than December 15, 2004, to establish home loan eligibility. VA must deny applications from surviving spouses who remarried before December 6, 2003 that are received after December 15, 2004.)
    • Surviving Spouses of certain totally disabled veterans whose disability may not have been the cause of death

    Other Eligible Beneficiaries

    You may also apply for eligibility if you fall into one of the following categories:

    • Certain U.S. citizens who served in the armed forces of a government allied with the United States in World War II
    • Individuals with service as members in certain organizations, such as Public Health Service officers, cadets at the United States Military, Air Force, or Coast Guard Academy, midshipmen at the United States Naval Academy, officers of National Oceanic Atmospheric Administration, merchant seaman with World War II service, and others

    Restoration of Entitlement

    Veterans can have previously-used entitlement “restored” to purchase another home with a VA loan if:

    • The property purchased with the prior VA loan has been sold and the loan paid in full, or
    • A qualified Veteran-transferee (buyer) agrees to assume the VA loan and substitute his or her entitlement for the same amount of entitlement originally used by the Veteran seller. The entitlement may also be restored one time only if the Veteran has repaid the prior VA loan in full, but has not disposed of the property purchased with the prior VA loan. Remaining entitlement and restoration of entitlement can be requested through the VA Eligibility Center by completing VA Form 26-1880.

    PDF Documents To read PDF documents, you need a PDF viewer. Links to viewer software can be found at this link .



    VA Loan Qualifications and Eligibility Requirements #ez #loans


    #home loan eligibility
    #

    VA Loan Eligibility

    Understand how VA Loan eligibility is determined and if you meet the initial service requirements to apply for a VA Loan.

    VA Loan Eligibility Guidelines

    VA Home Loans have helped more than 21 million veterans, service members and surviving spouses achieve the dream of homeownership. This benefit – most praised by homebuyers for offering $0 down, low rates and removing the added cost of mortgage insurance – is made possible by the Department of Veterans Affairs guaranteeing a portion of each loan in case of default.

    Veterans who are eligible for a VA loan have what is referred to as VA Loan entitlement, which is a specific amount that the Department of Veterans Affairs promises to guarantee.

    This entitlement is what gives lenders the confidence to extend VA Loan financing with exceptional rates and terms. However, to be eligible for the VA Loan, potential homebuyers must first meet the basic service requirements.

    VA Loan Service Requirements

    Service requirements fall into two categories: wartime and peacetime. Potential homebuyers must satisfy only one of the service requirements set forth by the Department of Veterans Affairs to be eligible for a VA Loan.

    These service requirements state that veterans who served during wartime must have been on active duty for at least 90 consecutive days. Conversely, those who served during peacetime must have served a minimum of 181 days. Veterans of the National Guard or Reserves must have served for at least six years unless otherwise eligible.

    Spouses of service members who died in the line of duty, or as the result of a service related disability, may also be eligible. Learn more about VA Loans and suriving spouses here .

    To verify VA Home Loan eligibility, it is best to consult a VA Loan specialist.

    VA Loan Certificate of Eligibility

    Applicants that meet the basic service requirements will also need to acquire a Certificate of Eligibility (COE). VA approved lenders use the COE to verify your eligibility for home loan benefits; however, you do not need your COE to start the VA Loan process – or even to determine eligibility – your VA approved lender will help you with this.

    Homebuyers can obtain their Certificate of Eligibility through a VA approved lender using the Web LGY system, the eBenefits portal on the Department of Veterans Affairs website, or through mail using VA Form 26-1880. Request for a Certificate of Eligibility for Home Loan Benefits. This document is available for download and print online on the VA’s website.

    However, according to the VA, veterans are encouraged to ask their lender about the Web LGY system – an internet-based application that allows approved lenders to access your Certificate of Eligibility in seconds.

    VA Loan Property Requirements

    Residences come in all shapes and sizes, from townhomes, condominiums to single-family homes. And, while the types of dwellings differ greatly, potential homeowners using a VA Loan will need to focus on a select group in order to receive their final approval.

    Single-family homes are the standard when pertaining to the VA Loan; however, many other types of housing can also win VA Loan approval, including condominiums, townhomes, modular homes, new construction and manufactured homes.

    Condominiums and townhomes broadly meet VA Loan requirements; however, not every condo or townhome is eligible. For a condominium to be eligible, the entire complex must meet VA approval before a buyer can obtain financing for their desired unit. To determine if the potential complex is eligible, the VA provides this interactive list of approved complexes .

    Modular homes, which are prefabricated in a factory – or secondary location – and assembled on the homeowner’s property by a licensed contractor, are eligible for the VA Loan. New construction is also possible with a VA Home Loan.

    Manufactured homes, or mobile homes, may be eligible; however, finding a lender to financing this type of home is very difficult. Manufactured homes are considered a depreciating property, which many lenders hesitate to take a chance on.

    VA Loan Credit and Income Eligibility

    Interested homebuyers must meet basic credit and income requirements. The Department of Veterans Affairs does not impose a credit score minimum, but most lenders will look for a credit score of 620 or greater to obtain home financing.

    As for income, the VA works to protect homebuyers by ensuring that they can afford the mortgage they are applying for. One way this is done is through your debt-to-income ratio – or the ratio of you total monthly debt to gross monthly income.

    The VA uses a DTI benchmark of 41 percent, which is higher than what you’ll find with conventional and even FHA financing. In general, those with a higher DTI are at an increased risk of monthly expenses outweighing their income. This can be seen as a warning sign of default for lenders.

    Although the VA requires a 41 percent DTI ratio, lenders may allow for higher DTI ratio.

    VA Loan Entitlement

    VA Loans are for first-time and repeat homebuyers alike; meaning, if you used a VA Loan in the past, you still may be eligible for a subsequent VA Home Loan.

    It’s also possible for qualified borrowers to have more than one VA loan at the same time. Veterans and service members who have lost a previous VA loan to foreclosure may also be able to obtain another using any remaining second-tier entitlement.

    For more information on VA Loan eligibility, see these common VA Loan questions .



    Mortgage Basics: Loan Eligibility #capitec #loans


    #home loan eligibility
    #

    Mortgage Basics: Loan Eligibility

    “How much house can I afford?” It’s a critical question that every homebuyer faces, and one that many people answer by going to a lender and taking out the largest mortgage that the lender will approve. While this strategy will help you get the largest, most expensive house that you can qualify for, being eligible for a loan and being able to afford the property aren’t necessarily the same thing. (For more insight, see Mortgages: How Much Can You Afford? )

    From a lender’s perspective, loan eligibility is based on a formula. The most common rule of thumb is that your monthly mortgage payment should not exceed 28% of your gross income. This calculation includes more than just the base price of the house. Consider, for example, a $50,000 gross income. Based on 28% of that amount, the mortgage payment would be $14,000 per year or $1,166.66 per month. That $1,166.66 needs to cover all four potential components of a mortgage: principal. interest. taxes and insurance. often referred to as PITI .

    If your credit history is good, the lender may let you take out a mortgage with a monthly payment equal to 30% or even 40% of your gross monthly income. In our example, 40% would get you a yearly mortgage payment of $20,000 or $1,666.66 per month. The $500 per month difference would let you afford a more expensive home, but you should take a close look at your finances before making such a decision.

    Gross Vs. Net Income

    Although mortgage eligibility is based on gross income, your monthly payments are made from your net income. This means that your ability to afford the payments can look quite different once the mortgage actually needs to be paid. That $50,000 gross income is reduced to $36,000 net after 28% goes to pay taxes. Taking $20,000 out of that to pay the mortgage leaves you $16,000 to live on for the year. On a monthly basis, that’s $1,333.33. Factor in a car payment, credit cards and student loans to cover the cost of your education or tuition bills for your children and there might not be much left over at the end of the month. Although you may be able to qualify for that $1,666.66 loan on paper, actually taking it might not be the best financial move that you could make. On the other hand, if you are debt free and have a rainy-day fund stashed away in case of emergencies, a mortgage that takes up such a large chunk of your gross income may not be a problem. (For more insight, read Are You Living Too Close To The Edge? )

    Another rule of thumb to consider is that your debt-to-income ratio should not exceed 36% of your gross income. To calculate your maximum monthly debt based on this ratio, multiply your gross income by 0.36 and divide by 12. For example, if you earn $50,000 per year, your maximum monthly debt expenses should not exceed $1,500, which would include your mortgage. Referring back to our example, the $1,333.33 monthly mortgage payment might be enough to break the bank for someone with heavy debts or big spending habits, while the $1,666.66 monthly payment is just slightly more than the 36% of gross income and perhaps well within the means of a prudent spender.

    Determining Eligibility

    Sitting down with a calculator will give you a good idea of where you stand in relationship to the loan amount you can probably qualify for and the debt-to-income ratio that you can actually afford. In the excitement to purchase a new home, don’t lose sight of the reality that lenders are in business to make loans. They will let you borrow the maximum amount that you can qualify for because they charge interest on that amount. The more money you borrow, the more money the lender earns in interest. Also, many lenders sell their loans to investors, so the lender itself many not stand to lose anything at all if you default on your loan.

    House Poor

    Taking out a large loan often results in a situation referred to as being ” house poor “. Being house poor is generally not a good idea. While you may be able to make the monthly mortgage payments and even pay your other bills too, you are one large expense away from disaster. Should you need to make a major repair to your car, purchase a new appliance, or encounter any other scenario that requires a substantial outlay of cash, you are going find yourself in a tough spot and could end up losing your home, filing bankruptcy. or both.

    Play It Safe

    Regardless of the size of the loan a lender offers, don’t buy more house than you can afford. If you purchase a home and, after making the payments for a few years, find that you have considerable discretionary income left or have substantially increased your income since making the purchase, you can always move. Of course, if you like where you live, you can make extra payments and potentially retire your mortgage early.



    Loan Eligibility Calculator #same #day #loans


    #loan eligibility calculator
    #

    So, it comes inside the type of secured finance. Client is required to do all the research work previous to obtaining this loan. These facilities can even Loan eligibility calculator be acquired because of the method to obtain the Loan eligibility calculator online technique.

    Currently there are various those who find themselves marked as a bad credit score plate and they are demand for income.

    Therefore, these men and women need not be nervous about such undesirable situation, this condition may be solved Loan eligibility calculator with availability with the world wide web option wherein they will get an apt offer for his or her monetary affliction.

    It’s a a guarantee cost-free bank loan deal that is obtained without the problem of proof, credit ratings looking at process and other prolonged thank you’s.

    There s an qualification requirements qualification which you need to satisfy so that you can submit an application for Lending options for A Bad Credit Score:1. You ve got to be at the Loan eligibility calculator least 18 yrs old. There are lots of loan merchants who you will need to offer their professional services at affordable charges. An enduring work and also a salary that is at least 1000 excess fat each month are important to receive approval for these personal loans.

    Great britain mortgage firms are providing financial products to each and every one advisors in accordance with their basics.



    Loan eligibility calculator #loans #for #people #with #bad #credit #instant #decision


    #loan eligibility calculator
    #

    EMI / NMI Ratio Calculation, Loan Eligibility

    This post explains the concept of EMI / NMI Ratio in details and how it is calculated for determining the loan eligibility of a prospective borrower. Please refer to our post on How Bank Calculate Loan Eligibility Amount for better understanding the other criteria followed by most banks for the determination of the loan eligibility amount.

    EMI / NMI is a ratio, which is used by banks and financial institutions to determine the loan eligibility amount, for which a prospective borrower is eligible. As is evident, EMI / NMI ratio is dependent upon two factors, which are explained as below.

    1. EMI: It is an acronym of the term Equated Monthly Installments. This is the scheduled monthly payment you are required to make to the lender against the loan. It is calculated based upon the loan amount, applicable interest rate and the loan tenure.
    2. NMI: NMI refers to Net Monthly Income. It is the disposable income in the hands of the prospective borrower received on monthly basis, which is actually utilized by him for his consumption and repayment of outstanding and liabilities.

    Most of the banks and lending institutions put a cap ceiling limit on the EMI / NMI ratio. They will calculate the maximum loan amount, which can be sanctioned based upon your present liabilities such that your EMI / NMI ratio does not cross the predefined limits. For instance, State bank of India prescribes following limits for EMI / NMI ratio.

    EMI/NMI Ratio Net Annual Income

    • 20% Upto Rs.60,000/-
    • 25% Above Rs.60,000/- and upto Rs.1,20,000/-
    • 30% Above Rs.1,20,000/- and upto Rs.2 lacs.
    • 50% Above Rs.2 and upto Rs. 5 lacs.
    • 55% Above Rs.5 lacs and upto Rs.10 lacs.
    • 65% Above Rs.10 lacs.

    Bankers offering permit discretionary powers to the local sanctioning officers, which enables them to relax the EMI / NMI ratio limits to a certain extent based upon the creditworthiness and profile of the prospective borrower. For instance SBI stipulates that “Increase upto 5% in the above ratios may be permitted by the controller of the Branch/ RACPC, which processes the loan application. depending on the family size and availability of disposable surplus income.”

    Explanatory Notes on EMI / NMI Ratio

    For the purpose of computing the EMI/NMI ratio, EMI will include all EMIs towards existing loans and the proposed loan.

    Calculation of net monthly income is done in the following manner.

    • For Salaried Persons: NMI means monthly income net of all statutory deductions like provident fund etc.
    • Other than Salaried Persons: the monthly income for people other than salaried person, is often irregular and does not follow a monthly pattern. For them, NMI is calculated based upon NAI (Net Annual Income), which essentially means annual income as per latest income tax return filed.
    • For Agriculturists: NAI is arrived at, based on the nature of their activity (e.g. farming, dairy, poultry, orchards), land holding, cropping pattern, yield etc. and average level of income derived there from in the area.


    LIC Home Loan Eligibility #loan #uk


    #housing loan eligibility calculator
    #

    LIC Home Loan Eligibility

    LIC Home loans give the loan applicant a facility to calculate their eligibility to avail the home loan schemes. LIC thrusts upon certain eligibility cafeterias before lending home loans to individuals. But interpreting the computations included in the calculation of the home loan eligibility has always been difficult to understand as it involves a great extent of number crunching. LIC home loans provide its customers with a key online eligibility calculator so as to enable them to calculate their respective eligibility to avail a particular home loan scheme. one has to furnish certain important details on the basis of which the individual wishing to apply for the LIC Home loans can calculate his/her eligibility:

    Using the LIC Home Loan Eligibility Calculator

    The home loan eligibility calculator therefore is very beneficial for the individuals applying for home loans and helps them understand the finer details of the home loan thereby helping them ascertain if they are eligible to avail a particular home loan scheme by providing them a rough idea if they are capable to repay the home loan amount and whether that home finance scheme suits their requirements.

    To use the home loan eligibility use the home loan eligibility calculator on the LIC website: www.lichousing.com



    Eligibility Calculator – APNAPAISA #loan #payment #calculator #car


    #home loan eligibility calculator
    #

    Once you know the eligibility amount then the clear picture will emerge so that you will know if you have sufficient money for down payment. Normally the down payment will be in the range of 10%-20% of agreement value of the property. Apart from that you will also have to arrange for yourself stamp duty and registration charges, as the banks no longer fund these charges.

    Your loan amount eligibility is determined by several factors like your occupation (whether you are salaried/ self-employed), your disposable income, the interest rate charged by the bank and the tenure of the loan.

    The rate of interest is largely dependent on your credit history and does not only influences the Emi amount but also the loan amount eligibility. Normally lenders consider certain percentage of your net monthly salary as available for paying Emi’s on all your loans. Hence, higher the Emi lower the loan eligibility amount and vice-versa.

    You can increase your loan eligibility by including earning spouse, parents or children as co-applicant and co-borrowers to the housing loan. You can alternatively increase your eligibility by increasing the tenure of the housing loan.

    Let’s see how it all works:

    Lenders assess certain portion of your income as available for payment of EMI of your loans. Though there are no standard norms as it varies from bank to bank. But lenders do take into account factors like expense and investment pattern, credit card dues, etc. But normally the lenders will assume that around 40%-45% of individual’s net salary is available for payment of EMI to serve all the loans. The figure can be higher if you are in a high-income bracket.

    Illustration:

    Mr. Verma wants to taking a loan for first time for purchasing a residential property. His net monthly salary is Rs. 1,00,000/-. Assuming that he has fulfilled all other criteria and the bank has considered 40% of his net income as available for payment of EMI, hence he will have Rs. 40,000 p.m. for payment of home loan EMI.

    Assuming current rate of interest of the bank is 10.15% p.a. for 20 years tenure. Hence, Mr. Verma will be eligible for Rs. 41.03 lakhs at an EMI of Rs. 975 per lakh. Now let’s assume the interest rate has fallen by 0.50% to 9.65% pa with a resultant drop in EMI from Rs. 975 to Rs. 942 per lakh. With the reduction in EMI, the eligibility of Mr. Verma has gone up by Rs. 1.44 lakhs for a 20 years loan. Similarly if the rate of interest goes up by 0.50% i.e. from 10.15% to 10.65% pa, the Emi per lakh increases to Rs. 1008, which will reduce his loan eligibility by Rs. 1.34 lakhs.

    Note: All calculators and comparators are made based on certain assumptions, which may not be true in your case. You should consult your personal financial advisor before taking any decision. Apnapaisa disclaims any responsibility for any decision taken based on these calculators and comparators.



    Loan Eligibility Calculator #consumer #loans


    #loan eligibility calculator
    #

    So, it comes inside the type of secured finance. Client is required to do all the research work previous to obtaining this loan. These facilities can even Loan eligibility calculator be acquired because of the method to obtain the Loan eligibility calculator online technique.

    Currently there are various those who find themselves marked as a bad credit score plate and they are demand for income.

    Therefore, these men and women need not be nervous about such undesirable situation, this condition may be solved Loan eligibility calculator with availability with the world wide web option wherein they will get an apt offer for his or her monetary affliction.

    It’s a a guarantee cost-free bank loan deal that is obtained without the problem of proof, credit ratings looking at process and other prolonged thank you’s.

    There s an qualification requirements qualification which you need to satisfy so that you can submit an application for Lending options for A Bad Credit Score:1. You ve got to be at the Loan eligibility calculator least 18 yrs old. There are lots of loan merchants who you will need to offer their professional services at affordable charges. An enduring work and also a salary that is at least 1000 excess fat each month are important to receive approval for these personal loans.

    Great britain mortgage firms are providing financial products to each and every one advisors in accordance with their basics.



    LIC Home Loan Eligibility #interest #rates #on #car #loans


    #housing loan eligibility calculator
    #

    LIC Home Loan Eligibility

    LIC Home loans give the loan applicant a facility to calculate their eligibility to avail the home loan schemes. LIC thrusts upon certain eligibility cafeterias before lending home loans to individuals. But interpreting the computations included in the calculation of the home loan eligibility has always been difficult to understand as it involves a great extent of number crunching. LIC home loans provide its customers with a key online eligibility calculator so as to enable them to calculate their respective eligibility to avail a particular home loan scheme. one has to furnish certain important details on the basis of which the individual wishing to apply for the LIC Home loans can calculate his/her eligibility:

    Using the LIC Home Loan Eligibility Calculator

    The home loan eligibility calculator therefore is very beneficial for the individuals applying for home loans and helps them understand the finer details of the home loan thereby helping them ascertain if they are eligible to avail a particular home loan scheme by providing them a rough idea if they are capable to repay the home loan amount and whether that home finance scheme suits their requirements.

    To use the home loan eligibility use the home loan eligibility calculator on the LIC website: www.lichousing.com



    Home Loan Eligibility Calculator #construction #loan


    #home loan eligibility calculator
    #

    Home Loan Eligibility Calculator

    A home purchasing decision can be made easier with the right home loan eligibility calculator. It really can be an easy time if you re properly set up.

    Types of Home Loan Eligibility Calculators

    There are a number of ways of calculating your eligibility for a home loan. The other side of the equation is that sometimes having a higher eligibility will reduce the interest rate you need to pay reducing the costs involved with a home loan will make it so that you can afford more house, or lower payments.

    Your home loan eligibility calculator will help you make decisions on how to structure your debt. Sometimes making a loan go longer in life will mean that you ll be able to look for different options when looking or debt structuring. Longer loans can mean lower payments, while shorter loans can mean that you pay less interest over the life of the loan. Overall, being aware of these differences can mean that you ll be more informed when it comes time to choosing your mortgage.

    Look at Different Options to Compare What s Best

    Some people consider different scenarios when looking at a home loan eligibility calculator. It s a good way to understand what the best options are so that you can get the home that s right for your needs. Look at the overall scenario, and consider costs of driving to and from work, as well as grocery shopping in the overall area a home can have a large set of effects on these, and it s important to keep them in mind as well.

    Items you ll need when using a home loan calculator are frequently: Gross Income Car Payment Monthly Debt Payments Interest Costs Home Down Payment Property Tax Condo Fees / Home Association Owner Fees

    There are other items you ll need to consider, but over all being a home owner can be a fun and exiting task, and one that is very rewarding in the long run!

    Whether you ve purchased a personal home or investment property, a home is always a great way to look for the right place to invest you money. Having the chance to get extra leverage with a home loan will mean that you ll have that much more house to work with. A Home loan eligibility calculator is a great way to figure these things out. Have fun purchasing your home loan!

    Possibly Related Posts:



    Loan eligibility calculator #payday #loans #direct #lender


    #loan eligibility calculator
    #

    EMI / NMI Ratio Calculation, Loan Eligibility

    This post explains the concept of EMI / NMI Ratio in details and how it is calculated for determining the loan eligibility of a prospective borrower. Please refer to our post on How Bank Calculate Loan Eligibility Amount for better understanding the other criteria followed by most banks for the determination of the loan eligibility amount.

    EMI / NMI is a ratio, which is used by banks and financial institutions to determine the loan eligibility amount, for which a prospective borrower is eligible. As is evident, EMI / NMI ratio is dependent upon two factors, which are explained as below.

    1. EMI: It is an acronym of the term Equated Monthly Installments. This is the scheduled monthly payment you are required to make to the lender against the loan. It is calculated based upon the loan amount, applicable interest rate and the loan tenure.
    2. NMI: NMI refers to Net Monthly Income. It is the disposable income in the hands of the prospective borrower received on monthly basis, which is actually utilized by him for his consumption and repayment of outstanding and liabilities.

    Most of the banks and lending institutions put a cap ceiling limit on the EMI / NMI ratio. They will calculate the maximum loan amount, which can be sanctioned based upon your present liabilities such that your EMI / NMI ratio does not cross the predefined limits. For instance, State bank of India prescribes following limits for EMI / NMI ratio.

    EMI/NMI Ratio Net Annual Income

    • 20% Upto Rs.60,000/-
    • 25% Above Rs.60,000/- and upto Rs.1,20,000/-
    • 30% Above Rs.1,20,000/- and upto Rs.2 lacs.
    • 50% Above Rs.2 and upto Rs. 5 lacs.
    • 55% Above Rs.5 lacs and upto Rs.10 lacs.
    • 65% Above Rs.10 lacs.

    Bankers offering permit discretionary powers to the local sanctioning officers, which enables them to relax the EMI / NMI ratio limits to a certain extent based upon the creditworthiness and profile of the prospective borrower. For instance SBI stipulates that “Increase upto 5% in the above ratios may be permitted by the controller of the Branch/ RACPC, which processes the loan application. depending on the family size and availability of disposable surplus income.”

    Explanatory Notes on EMI / NMI Ratio

    For the purpose of computing the EMI/NMI ratio, EMI will include all EMIs towards existing loans and the proposed loan.

    Calculation of net monthly income is done in the following manner.

    • For Salaried Persons: NMI means monthly income net of all statutory deductions like provident fund etc.
    • Other than Salaried Persons: the monthly income for people other than salaried person, is often irregular and does not follow a monthly pattern. For them, NMI is calculated based upon NAI (Net Annual Income), which essentially means annual income as per latest income tax return filed.
    • For Agriculturists: NAI is arrived at, based on the nature of their activity (e.g. farming, dairy, poultry, orchards), land holding, cropping pattern, yield etc. and average level of income derived there from in the area.


    How To Use A Housing Loan Eligibility Calculator? #best #payday #loans


    #housing loan eligibility calculator
    #

    How To Use A Housing Loan Eligibility Calculator?

    Nov 4, 2015

    A housing loan eligibility calculator takes into account an individual’s monthly income earned, the monthly expenses along with the interest and tenure of the their choice to calculate the loan amount they are eligible for. Most financial institutions provide their customers with this calculator free of cost online. The reason why one must use this calculator is that it helps ensure one’s home loan application is approved by the financial institution.

    When you are applying for a home loan with a financial institution you need to understand what is taken into consideration when looking at one’s application. To be eligible for a home loan, the financial institution expects the individual to have a reasonable credit score and have a regular paying job. The housing loan eligibility calculator calculates the loan amount which an individual is eligible for. This amount is also taken into consideration by the financial institution when approving one’s loan application. In cases where the loan amount applied for is higher than the amount the individual is eligible for, their application may get rejected.

    It is for this reason why it is extremely important for an individual to use the housing loan eligibility calculator before they apply for the loan with a financial institution. The loan amount calculated with tell the individual how close or far they actually are for the loan amount of their choice. If you feel that the loan amount calculated by the calculator is lower than what you wish for, there are several steps you can take to increase it.

    Since the calculator takes into account the amount the individual spends on a monthly basis, the first thing one must do is reduce their expenditure. Any unnecessary expenditure one may incur on a monthly basis can be reduced to help increase the eligibility of the individual. This can help one reach closer to the loan amount of their choice. However, there is only a certain extent to which one can reduce their expenses. There are however, a number of ways in which one can improve their eligibility which does not include using the housing loan eligibility calculator. One can take steps to improve their credit score which will convince the financial institution to approve the home loan application.

    The housing loan eligibility calculator plays a crucial role in helping an individual get their home loan application approved. Every prospective borrower must use the calculator before sending in their home loan applications to ensure that they are eligible for the loan amount they have applied for.

    About the Author

    The author is a seasoned writer on finance topics and she articulates aspects that are important to people availing the home loan facility. She writes about a variety of topics covering the home loan documents, rates & the uses of home loan eligibility calculator that help to make the best decision.



    Eligibility Requirements #used #car #loans


    #sba loan requirements
    #

    Below is a brief description of some basic eligibility requirements the SBA uses to determine whether or not a loan will be considered for a guaranty under the 7(a) loan program. The SBA also uses these basic standards to determine applicants’ eligibility for the specialty loan programs described in the previous section.

    Size Standards:. Small businesses must be independently owned and operated, not dominant in its field, and must meet employment and sales standards developed by the SBA. For example, wholesale businesses must not have more than 100 employees. Retail or service businesses must have average three-year annual sales of not more than $5 to $21 million. Manufacturing businesses should not have more than 500 employees, but in some circumstances, businesses up to 1,500 employees will be considered. Construction companies should have average three-year annual sales of not more than $7 to $17.5 million. Agricultural businesses must have less that $500,00 in annual sales. These are just some examples of the size limits determined by the SBA. If you are unsure whether or not your business would meet SBA size standards, contact your local agency at www.sba.gov/regions/states.html .

    Type of Business: Loan proceeds guaranteed by the SBA cannot be used for the following types of business activities:

    • Financing real property to be sold at a later date
    • Non-profit work
    • Gambling, speculation, lending or investment
    • Monopolies and businesses involved in pyramid schemes
    • Illegal business activities

    Purpose of Loan: Financing may be obtained to establish a new business or to assist in operating, acquiring, or expanding an existing business. Below is a list of accepted uses for SBA loan proceeds:

    • To purchase land or buildings
    • To cover new construction or the conversion of an existing facility
    • For long term working capital such as the payment of accounts payable and/or the purchase of inventory
    • To refinance existing business debt that is not already structured with reasonable terms and conditions
    • For short-term working capital needs including seasonal financing, contract performance, construction financing, export production, and financing against existing inventory and receivables

    Maturity: The rate at which SBA loans mature varies according to the economic life of the financed assets and the applicant’s ability to repay the loan. All loans will be repaid over the shortest possible time period. The following is a list of maximum time periods, varying according to the loans purpose.

    • Working capital loans can take up to 7-10 years to mature
    • Fixed asset loans can take up to 10-25 years to mature
    • Building construction loans can take up to 25 years to mature

    Interest Rates: the private lender negotiates Interest rates. They are tied to the prime rate and can be fixed or variable. The SBA has determined that rates on its guaranteed loans shall not exceed 2.25 percent over prime for loans shorter than seven years, and 2.75 percent over prime for loans longer than seven years. Lenders may charge a slightly higher interest rate for loans under $50,000. Most 7(a) loans are amortized using a variable rate.

    Guaranty Fee: When the SBA agrees to guaranty a loan, the lender must pay SBA a guaranty fee. Usually, this fee is then passed on to the borrower who can repay the fee from the proceeds of the loan. The fee is based on the loan’s maturity and the portion guaranteed by the SBA.

    • For loans with a 12 month or less maturity date, the fee is one-quarter of one percent of the guaranteed portion of the loan.
    • For loans with a maturity date greater than 12 months, the fee is three percent on the first $250,000 of the SBA’s share, 3.5 percent on the next $250,000 of the SBA’s share, and 3.875 percent on the final portion of the SBA’s share


    B4-2. 3-04: Loan Eligibility for Co-op Share Loans (11 #best #bank #loans


    #co op loans
    #

    B4-2.3-04: Loan Eligibility for Co-op Share Loans (11/03/2015)

    Overview

    Co-op share loans finance the purchase or refinancing of the borrower’s ownership interest in a co-op housing corporation and accompanying occupancy rights in a residential unit in a co-op project owned by the co-op housing corporation. The property that secures Fannie Mae’s first lien is the borrower’s ownership interest in a co-op housing corporation that is represented by stock or shares in the co-op housing corporation (or by a membership certificate or other contractual agreement evidencing ownership) and an assignment of the borrower’s rights under a proprietary lease or occupancy agreement with the co-op housing corporation.

    Co-op Share Loan Eligibility Requirements

    Fannie Mae will purchase co-op share loans provided borrowers occupy the property as a principal residence or second home. Investment properties are prohibited. Fannie Mae does not purchase or securitize co-op share loans that are subject to subordinate financing except for DU Refi Plus and Refi Plus transactions.

    For the applicable credit score, minimum reserve requirements, and maximum debt-to-income ratio requirements, see the Eligibility Matrix .

    Calculating the LTV Ratio for Co-op Share Loans

    The method for calculating the LTV ratio for a co-op share loan is based on whether the borrower assumes his or her pro rata share of the blanket mortgage or does not. In those markets where the borrower assumes his or her pro rata share of the blanket mortgage, the LTV ratio is determined by dividing the original loan amount by the lower of

    the sales price for the co-op unit (unencumbered by the unit’s pro rata share of the co-op project’s blanket mortgage(s)), or

    the appraised value of the co-op stock or shares and the related occupancy rights (unencumbered by the unit’s pro rata share of the project’s blanket mortgage(s)).

    In those markets where the borrower does not assume his or her pro rata share of the blanket mortgage, then the LTV ratio is determined by dividing the original loan amount by the lower of

    the sales price for the co-op unit, or

    the appraised value of the co-op stock or shares and the related occupancy rights.

    Co-op Share Loans Subject to Flip Tax

    Co-op share loans secured by units in co-op projects that require the payment of a “flip tax” are eligible for delivery as long as the co-op project’s legal documents permit the imposition of a flip tax and provide for one of the following:

    the lender is exempt from paying the flip tax if the lender acquires the co-op unit in foreclosure, in a transfer by the borrower in lieu of foreclosure, or any other transfer of the borrower’s interest in the co-op unit in full or partial satisfaction of the borrower’s obligations under the co-op share loan; or

    the flip tax is payable when the sales price of the co-op unit exceeds the existing unit owner’s purchase price (based on property appreciation) and then is assessed only on the amount of the appreciation in value (this flip tax is profit-based).

    If the flip tax does not meet one of these requirements and is due whether or not the sales price exceeds the existing unit owner’s purchase price, then it may still be eligible as long as the amount of the flip tax is less than or equal to 5% of the value of the property (calculated as the lesser of appraised value or sales price) and it is calculated in one of the following ways:



    Car Loan Eligibility Criteria #what #is #a #student #loan


    #loan eligibility calculator
    #

    Get your Car Loan

    Eligibility: All Priority/Wealth/Privee customers with a vintage of 6 months

    And

    A minimum Average Quarterly Balance as below:

    • An AQB of Rs. 1 Lakh for last 2 completed quarters. AQB requirement to be meeting for both the quarters

    Maximum loan amount restricted to 3 times the AQB in the last 2 quarters

    Scheme for Salary Customers

    All customers having their Salary A/c with Axis Bank since the past 3 months and working with the following organisation are eligible for this product.

    Eligibility

    • Public Limited & Private Limited Companies
    • MNCs
    • Permanent employees of State / Central Government
    • Permanent employees of Public Sector Undertakings
    • Permanent employees of reputed schools / colleges

    Parameters

    • Minimum age of applicant: 21 years
    • Maximum age of applicant at loan maturity: 70 years
    • Income: Minimum Net Annual Salary of Rs. 2.40 Lac p.a.
    • Income eligibility: As per latest salary slip and Form 16
    • Employment: Minimum 1 yrs of continuous employment

    Car Loan Eligibility Calculator

    Axis Bank has made it easy for customers to quickly check out their Car Loan eligibility. Our Car Loan eligibility calculator helps you to find out whether you can avail of auto finance. Click here to find out.



    VA Loan Qualifications and Eligibility Requirements #loan #sharks


    #home loan eligibility
    #

    VA Loan Eligibility

    Understand how VA Loan eligibility is determined and if you meet the initial service requirements to apply for a VA Loan.

    VA Loan Eligibility Guidelines

    VA Home Loans have helped more than 21 million veterans, service members and surviving spouses achieve the dream of homeownership. This benefit – most praised by homebuyers for offering $0 down, low rates and removing the added cost of mortgage insurance – is made possible by the Department of Veterans Affairs guaranteeing a portion of each loan in case of default.

    Veterans who are eligible for a VA loan have what is referred to as VA Loan entitlement, which is a specific amount that the Department of Veterans Affairs promises to guarantee.

    This entitlement is what gives lenders the confidence to extend VA Loan financing with exceptional rates and terms. However, to be eligible for the VA Loan, potential homebuyers must first meet the basic service requirements.

    VA Loan Service Requirements

    Service requirements fall into two categories: wartime and peacetime. Potential homebuyers must satisfy only one of the service requirements set forth by the Department of Veterans Affairs to be eligible for a VA Loan.

    These service requirements state that veterans who served during wartime must have been on active duty for at least 90 consecutive days. Conversely, those who served during peacetime must have served a minimum of 181 days. Veterans of the National Guard or Reserves must have served for at least six years unless otherwise eligible.

    Spouses of service members who died in the line of duty, or as the result of a service related disability, may also be eligible. Learn more about VA Loans and suriving spouses here .

    To verify VA Home Loan eligibility, it is best to consult a VA Loan specialist.

    VA Loan Certificate of Eligibility

    Applicants that meet the basic service requirements will also need to acquire a Certificate of Eligibility (COE). VA approved lenders use the COE to verify your eligibility for home loan benefits; however, you do not need your COE to start the VA Loan process – or even to determine eligibility – your VA approved lender will help you with this.

    Homebuyers can obtain their Certificate of Eligibility through a VA approved lender using the Web LGY system, the eBenefits portal on the Department of Veterans Affairs website, or through mail using VA Form 26-1880. Request for a Certificate of Eligibility for Home Loan Benefits. This document is available for download and print online on the VA’s website.

    However, according to the VA, veterans are encouraged to ask their lender about the Web LGY system – an internet-based application that allows approved lenders to access your Certificate of Eligibility in seconds.

    VA Loan Property Requirements

    Residences come in all shapes and sizes, from townhomes, condominiums to single-family homes. And, while the types of dwellings differ greatly, potential homeowners using a VA Loan will need to focus on a select group in order to receive their final approval.

    Single-family homes are the standard when pertaining to the VA Loan; however, many other types of housing can also win VA Loan approval, including condominiums, townhomes, modular homes, new construction and manufactured homes.

    Condominiums and townhomes broadly meet VA Loan requirements; however, not every condo or townhome is eligible. For a condominium to be eligible, the entire complex must meet VA approval before a buyer can obtain financing for their desired unit. To determine if the potential complex is eligible, the VA provides this interactive list of approved complexes .

    Modular homes, which are prefabricated in a factory – or secondary location – and assembled on the homeowner’s property by a licensed contractor, are eligible for the VA Loan. New construction is also possible with a VA Home Loan.

    Manufactured homes, or mobile homes, may be eligible; however, finding a lender to financing this type of home is very difficult. Manufactured homes are considered a depreciating property, which many lenders hesitate to take a chance on.

    VA Loan Credit and Income Eligibility

    Interested homebuyers must meet basic credit and income requirements. The Department of Veterans Affairs does not impose a credit score minimum, but most lenders will look for a credit score of 620 or greater to obtain home financing.

    As for income, the VA works to protect homebuyers by ensuring that they can afford the mortgage they are applying for. One way this is done is through your debt-to-income ratio – or the ratio of you total monthly debt to gross monthly income.

    The VA uses a DTI benchmark of 41 percent, which is higher than what you’ll find with conventional and even FHA financing. In general, those with a higher DTI are at an increased risk of monthly expenses outweighing their income. This can be seen as a warning sign of default for lenders.

    Although the VA requires a 41 percent DTI ratio, lenders may allow for higher DTI ratio.

    VA Loan Entitlement

    VA Loans are for first-time and repeat homebuyers alike; meaning, if you used a VA Loan in the past, you still may be eligible for a subsequent VA Home Loan.

    It’s also possible for qualified borrowers to have more than one VA loan at the same time. Veterans and service members who have lost a previous VA loan to foreclosure may also be able to obtain another using any remaining second-tier entitlement.

    For more information on VA Loan eligibility, see these common VA Loan questions .



    LOAN ELIGIBILITY CALCULATOR SBI #bankrate #loan #calc


    #loan eligibility calculator
    #

    “Eligibility” by Eric McClure

    Sapo Verde

    PunKy Fishtank

    loan eligibility calculator sbi

    Microsoft Office 2007 Professional – Upgrade

    Microsoft Office Professional 2007 Version Upgrade is a complete suite of productivity and database software that includes the 2007 versions of Publisher, Excel, Outlook, Outlook with Business Contact Manager, PowerPoint, Access, and Word. Powerful contact management features help you consolidate all customer and prospect information in one place, while improved menus present the right tools exactly when you need them.

    The new look and feel of the 2007 Microsoft Office system automatically displays the menus and toolbars you need when you need them. View larger.

    Tasks are easy to follow up on because they are included on the new To-Do Bar and within Outlook reminders. You can also drag tasks onto your calendar. View larger.

    You can customize the new information dashboard in Office Outlook 2007 with Business Contact Manager to display your sales pipeline. View larger.

    Business Contact Manager also combines contact, customer, and project information in one place. View larger.

    Create, preview, and send personalized e-mail publications with Office Publisher 2007 using new E-Mail Merge. View larger.

    With Access tracking templates, you can create databases and generate reports quickly. View larger.

    Professional 2007 also lets you develop professional marketing materials for print, e-mail, and the Web, and produce effective marketing campaigns in-house. In addition, you can create dynamic business documents, spreadsheets, and presentations, and build databases with no prior experience or technical staff.

    This update version of Professional 2007 is designed for use by those computers with the following operating systems: Windows server 2003 or later and Windows XP SP2 and later.

    Which edition of Office is right for you? View a comparison of Microsoft Office 2007 editions.

    Fast and Efficient Operation

    Whether you’re working on a financial spreadsheet, creating an important presentation, or building a customer database, Professional 2007 helps you find and use the features you need faster and more easily. The intuitive look and feel of this software, including task-based menus and toolbars that are automatically displayed based on the feature you are using, improves your productivity. With Publisher 2007, you can create and publish a wide range of marketing materials for print, e-mail, and the web with your own brand elements including logo, colors, fonts, and business information. Or take advantage of hundreds of professionally designed and customizable templates, and more than 100 blank publication types. This software also lets you reuse text, graphics, and design elements, and convert content from one publication type to another. You can also combine and filter mailing lists and data from multiple sources, including the 2007 versions of Excel, Outlook, Outlook with Bus! iness Contact Manager, and Access, to create personalized print and e-mail materials, and build custom collateral such as catalogs and datasheets.

    Save Time and Stay Organized

    Because it contains so many efficient software options in one package, Professional 2007 gives you access to a multitude of options that save you time and keep you organized. For example, Outlook with Business Contact Manager lets you create, manage, and track marketing campaigns, while PowerPoint gives you the ability to craft more dynamic presentations from an extensive library of customizable themes and slide layouts. When it’s time to create powerful charts, SmartArt diagrams, and tables, you can quickly preview formatting changes using the new graphics tools in Word, Excel, and PowerPoint and save yourself time-consuming future edits.

    Office Excel 2007 makes it easy to analyze data. View larger.

    Locate and Prioritize E-mail

    Because so much important communication is now done via e-mail, Professional 2007 includes several features that help you manage key correspondence. Instant Search capabilities in Outlook with Business Contact Manager let you quickly find critical information while the Color Category feature helps you to easily sort and manage e-mail messages. And because nothing is more inefficient than troubleshooting problems that compromise the security of your computer, this software package includes improved junk mail and anti-phishing filters to filter out unwanted e-mail and manage the remaining messages.

    Keep Track of Tasks and Deadlines

    Keeping track of appointments and deadlines can be stressful, but Professional 2007 streamlines the process so you’re ready for whatever the day brings. For instance, the To-Do Bar in Outlook with Business Contact Manager consolidates your tasks, e-mail messages flagged for follow-up, and appointments in one view. Additionally, tasks scheduled in Outlook appear on your calendar, or you can drag them directly onto your calendar to help you stay organized.

    Manage Customer Information in One Place

    Outlook with Business Contact Manager also provides a complete customer and contact management solution by centralizing all contact, prospect, and customer information–including communications history, projected sales value, and probability of closing, and tasks. This makes it easier to manage prospects and respond to customers. You also can store all types of communications with each customer in one place, including e-mails messages, phone calls, appointments, notes, and documents.

    Including charts in Office PowerPoint 2007 is easy. View larger.

    Capitalize on Key Opportunities

    The success of your business depends upon taking advantage of key opportunities that come your way, and Professional 2007 offers several features to help prevent any lost or missed connections. Outlook with Business Contact Manager provides a customizable homepage that helps you forecast sales and prioritize tasks. Enhanced reporting features provide a consolidated view of your sales pipeline using a variety of flexible reports that you can easily modify to suit your unique business needs.

    Visualize and Analyze Information

    Excel provides new tools for filtering, sorting, graphing, and visualizing information so you can analyze business information more easily and make more informed decisions. For more advanced analysis, improved PivotTable and PivotChart views are now much easier to create. Manage business information using efficient tools for easily creating databases and organizing and visualizing information. Access helps you create new databases easily, with no experience required, and also includes a library of predefined database tracking applications for the most common business processes. And thanks to the task-based user interface and the datasheet view, (which is similar to Excel), it’s more intuitive than ever before. When you’re ready to consolidate your data, easily create reports with a single click and use improved tools to filter, sort, group, and subtotal data.

    More Efficient Marketing Campaigns

    Outlook with Business Contact Manager has exciting features that help you easily create, manage, and track marketing campaigns while Publisher can combine and filter mailing lists and data from multiple sources–including Excel, Outlook, Outlook with Business Contact Manager, and Access–to create personalized print and e-mail materials. This feature also enables you to build custom materials such as catalogs and datasheets. You can then use Outlook with Business Contact Manager to track and assess responses so that you can determine the effectiveness of your marketing campaigns.

    Versatile, Flexible Operation

    Because the future of your business may depend on your ability to work on-the-fly or from various locales, Professional 2007 lets you work offline on your laptop or Pocket PC and then synchronize data when you return to the office. Whatever the size of your business, Professional 2007 is versatile and flexible enough to help you manage everyday tasks, while ensuring that you’re ready for whatever the future brings.



    Loan eligibility calculator #money #loans #online


    #loan eligibility calculator
    #

    EMI / NMI Ratio Calculation, Loan Eligibility

    This post explains the concept of EMI / NMI Ratio in details and how it is calculated for determining the loan eligibility of a prospective borrower. Please refer to our post on How Bank Calculate Loan Eligibility Amount for better understanding the other criteria followed by most banks for the determination of the loan eligibility amount.

    EMI / NMI is a ratio, which is used by banks and financial institutions to determine the loan eligibility amount, for which a prospective borrower is eligible. As is evident, EMI / NMI ratio is dependent upon two factors, which are explained as below.

    1. EMI: It is an acronym of the term Equated Monthly Installments. This is the scheduled monthly payment you are required to make to the lender against the loan. It is calculated based upon the loan amount, applicable interest rate and the loan tenure.
    2. NMI: NMI refers to Net Monthly Income. It is the disposable income in the hands of the prospective borrower received on monthly basis, which is actually utilized by him for his consumption and repayment of outstanding and liabilities.

    Most of the banks and lending institutions put a cap ceiling limit on the EMI / NMI ratio. They will calculate the maximum loan amount, which can be sanctioned based upon your present liabilities such that your EMI / NMI ratio does not cross the predefined limits. For instance, State bank of India prescribes following limits for EMI / NMI ratio.

    EMI/NMI Ratio Net Annual Income

    • 20% Upto Rs.60,000/-
    • 25% Above Rs.60,000/- and upto Rs.1,20,000/-
    • 30% Above Rs.1,20,000/- and upto Rs.2 lacs.
    • 50% Above Rs.2 and upto Rs. 5 lacs.
    • 55% Above Rs.5 lacs and upto Rs.10 lacs.
    • 65% Above Rs.10 lacs.

    Bankers offering permit discretionary powers to the local sanctioning officers, which enables them to relax the EMI / NMI ratio limits to a certain extent based upon the creditworthiness and profile of the prospective borrower. For instance SBI stipulates that “Increase upto 5% in the above ratios may be permitted by the controller of the Branch/ RACPC, which processes the loan application. depending on the family size and availability of disposable surplus income.”

    Explanatory Notes on EMI / NMI Ratio

    For the purpose of computing the EMI/NMI ratio, EMI will include all EMIs towards existing loans and the proposed loan.

    Calculation of net monthly income is done in the following manner.

    • For Salaried Persons: NMI means monthly income net of all statutory deductions like provident fund etc.
    • Other than Salaried Persons: the monthly income for people other than salaried person, is often irregular and does not follow a monthly pattern. For them, NMI is calculated based upon NAI (Net Annual Income), which essentially means annual income as per latest income tax return filed.
    • For Agriculturists: NAI is arrived at, based on the nature of their activity (e.g. farming, dairy, poultry, orchards), land holding, cropping pattern, yield etc. and average level of income derived there from in the area.


    Here s how banks calculate home loan eligibility. #free #mortgage #calculator


    #home loan eligibility
    #

    Here’s how banks calculate home loan eligibility

    Updated on: July 15, 2011

    T his article is aimed at clearing doubts over how a bank calculates your net income while calculating the eligibility for total home loan amount. Normally, all banks provide home loans up to 60 times your monthly net income.

    • You have a monthly in-hand (take home) salary as Rs 50,000 and you are looking for a home loan of about Rs 30 lakh.
    • Your gross monthly income might be much more than Rs 50,000 per month but that does not matter while calculating the net income.
    • You don’t have any other loan like car or personal loan on your name.
    • Bank rules say that you are eligible to get 60 times your monthly net income as loan.

    Well, all sounds good till the time you are talking to your bank executive or an agent over phone for your eligibility. They ask you for your net income, you answer Rs 50,000 per month and they immediately say that you are eligible for a loan that is 60 times your monthly net income, that is, Rs 30 lakh. You are excited that everything is going as per your expectations and think you will get the amount you were looking for.

    Click NEXT for more



    Creative Finserve: Home Loan Eligibility Calculator, Housing Loan Eligibility Calculator, Home Loan #government #student #loans


    #housing loan eligibility calculator
    #

    Home Loan Eligibility Calculator

    Calculator

    • Emi Calculator
    • Extra Repayment Calculator
    • Home Loan Eligibility Calculator
    • Personal Loan Eligibility Calculator
    • Loan against Property Eligibility Calculator
    • Borrowing Power Calculator
    • Loan Comparison Calculator
    • Loan Repayments Calculator

    Home Loan Eligibility Calculator

    In Home Loan Eligibility Calculator you can easily determine the amount you are eligible for and the tenure you are looking at. Our Home Loan Eligibility Calculator will help you to quickly determine the monthly installments you are likely to pay on repayment of your Home Loan. This is a unique Eligibility Calculator where you can not only find your Eligibility but can also evaluate yourself the total interest payable at the end of the Loan tenure. This is nothing but amortization chart where it shows the amount of principal and the amount of interest that comprise each payment (EMI).

    Home Loan is offered to individuals who wish to purchase a house. The property is mortgaged with the lender as a security till the repayment of home loan is done .The bank or financial institute will hold the title or deed to the property till the home loan is repaid in total. A home loan will have an either a fixed or floating interest rate which is paid monthly along with the principal amount. It’s a cumbersome process to evaluate the interest you have paid in Home Loan. With our Home Loan Eligibility calculator we have made it easy to understand the mechanism of Home Loan Eligibility Calculator.

    Home Loan Eligibility Calculator allows a borrower to project how much the monthly payment will be on a loan and how long it will take to repay the borrowed amount. A Home Loan calculator factors in the repayment of interest and principal on the loan to determine how long it will take to pay off. This is a good tool for potential borrower to use to see if they will be able to afford the monthly payment on the Home loan. To receive the most accurate number, a borrower would have to ask the lender for the interest rate that they qualify for.

    Our Home Loan Eligibility Calculator offer insight into how much you might be able to borrow and what your repayments would be. Start calculating now by filling in the fields or if you want to,

    Home Loan Eligibility Calculator is determined by various factors such as income, employment status, tenure and so on. Our aim is to provide affordable housing loans to as many individuals and families as possible.

    The Home Loan Eligibility calculator provides you with estimated Loan amount, and your monthly repayments to Home Loan. In Home Loan Calculator you can adjust the variables within the calculator. For example, by changing the interest rate you can see how this impacts the estimated repayments

    Use our Home Loan Eligibility Calculator as a guide before applying for a Home Loan as it lets you to understand what would be the loan amount you are eligible for and what would be your EMI.

    If you are not satisfied with the calculator output please call us for a personalized solution for your requirement.

    Important information

    All applications for credit are subject to Banks normal credit approval criteria. Terms and conditions are available on application of every bank in which loan will be applied.

    This is an estimate and it is provided for illustrative purposes only and is based on the accuracy of information provided. It does not constitute a quote. To apply for a loan you must complete an application.

    The repayment amount and total interest payable excludes Processing fees and Mortgage Insurance / Life Insurance.

    If a Variable Rate Loan is selected, the interest rate will be subject to market change throughout the term of the Loan.

    Results are based on amortised scheduled repayments and, once any discount or fixed rate period expires, the current variable rate or the variable rate is applied for the remainder of the loan term (unless another fixed rate period is taken).

    Creative Finserve will not store the information provided in this calculator.

    Home Loan Eligibility Calculator FAQ’s



    Personal Loan- HDFC Bank Interest Rates, Eligibility and Documents Required #loan #calculater


    #hdfc personal loan
    #

    Docs Required. Personal Loan

    Not Required

    Salaried (Individuals)

    • Bank Statements (latest 3 months bank statement / 6 months bank passbook)
    • Latest salary slip or current dated salary certificate with latest Form 16

    Self employed (Professionals)

    • Bank Statements(latest 6 months bank statement /passbook)
    • Latest ITR along with computation of income, B/S P L a/c for the last 2 yrs. certified by a CA
    • Qualification proof of the highest professional degree

    Self Employed (Individuals)

    • Bank Statements(latest 6 months bank statement /passbook)
    • Latest ITR along with computation of income, B/S P L a/c for the last 2 yrs. certified by a CA
    • Proof of continuation (Trade licence /Establishment /Sales Tax certificate)
    • Other Mandatory Documents(Sole Prop. Decl. Or Cert. Copy of Partnership Deed,Cert. Copy of MOA, AOA Board resolution.)

    Self Employed (Pvt Cos and Partnership Firms)

    • Bank Statements(latest 6 months bank statement /passbook)
    • Latest ITR along with computation of income, B/S P L a/c for the last 2 yrs. certified by a CA
    • Proof of continuation (Trade licence /Establishment /Sales Tax certificate)
    • Other Mandatory Documents (Sole Prop. Decl. Or Cert. Copy of Partnership Deed, Certified true copy of Memorandum Articles of Association (certified by Director) Board resolution (Original).

    Other Charges. Personal Loan



    2015 USDA Loan Income Limits – USDA Eligibility Check #loans #with #no #credit #check


    #rural development loan
    #

    Click To See Today’s Rates

    Posted September 9, 2015

    As Seen On

    100% Loans: 2015 USDA Loan Income Limits USDA Eligibility Check

    This USDA loan information is accurate as of today, November 19, 2015. If you get your USDA home loan information elsewhere, double-check the publish date of the article to make sure that it’s current.

    USDA Loans: Low Rates With No Downpayment

    USDA loans are mortgage loans which are guaranteed by the U.S. Department of Agriculture. The program is officially known as the USDA Rural Development Guaranteed Housing Loan Program, or the “Section 502 loan”, named for its place in the USDA charter.

    USDA loans are also known as “Rural Housing Loans”, which can be a bit of a misnomer. USDA loans can be used be used in rural areas, but many suburban areas remain eligible as well for the program as well.

    USDA loans are popular among today’s home buyers because the USDA program offers no-money-down financing.

    Home buyers can finance 100% of a home’s purchase price; and, can even use the loan to help purchase a manufactured home or a modular home.

    Furthermore, because USDA loans are guaranteed against loss by the U.S. Department of Agriculture, they are of very little risk to banks which make them.

    Low risk brings low rates and this is why USDA mortgage rates today are often the lowest of all of the government-backed mortgages.

    USDA mortgage rates are typically lower than the rates for FHA loans. VA loans. and conventional mortgages via Fannie Mae and Freddie Mac.

    Lastly, the USDA loan program offers reduced mortgage insurance premiums (MIP) to its borrowers.

    The annual USDA mortgage insurance premium — at just four-tenths of one percent per year — is 70% lower than the MIP charged for a comparable FHA-backed loan.

    USDA loans can be big money-savers; and they’re available to first-time home buyers as well as repeat home buyers. Homeownership counseling is not required to use the USDA home loan program.

    Most closings can happen in 45 days or fewer.

    USDA Mortgage Insurance Requirements

    The USDA mortgage is backed by the U.S. Department of Agriculture, and partially funded by the borrowers which use the program. Via mortgage insurance premiums charged to program homeowners, the government is able to keep the Rural Housing Loan program affordable.

    The USDA last changed its mortgage insurance rates in October 2012. Those rates remain in effect today, November 19, 2015.

    Today’s USDA mortgage insurance rates are :

    • 2.00% upfront fee paid at closing, based on the loan size
    • 0.40% annual fee, based on the remaining principal balance

    As a real-life example of how USDA mortgage insurance works, let’s say that a home buyer in Cary, North Carolina is borrowing $200,000 to buy a home with no money down.

    The buyer’s mortgage insurance costs will include a $4,000 upfront mortgage insurance premium, which is added to the loan size of $200,000; plus a monthly $66.66 payment for mortgage insurance.

    Note that the USDA upfront mortgage insurance is not required to be paid as cash. It can be added to your loan balance for you to reduce your funds required at closing.

    2015 USDA Loan Income Limits

    Via its Rural Housing Loan, the USDA offers 100% financing at very low mortgage rates in rural and suburban neighborhoods.

    Even better is that underwriting approvals are “relaxed”. Borrowers don’t need to meet every requirement to the last letter in order to get approved.

    However, there is one area in which the USDA is unyielding.

    The USDA will not guarantee a mortgage for a household which exceeds its maximum income limits for a given area. This is because the USDA is meant to promote homeownership among households of “modest means” only.

    To be eligible for the USDA financing, then, the agency states that a household’s annual earnings must not exceed the median household income for the area by more than 15 percent, with an allowance for the size of your household.

    For example, the 2015 USDA income limit  for an 8-member household is higher than the USDA income limit for a 4-member household; just as the income limit for a 10-member household will be higher than the income limit for an 8-member household; and, so on.

    2015 USDA income limits have a floor, based on household size:

    • 1-4 member household. $74,750
    • 5-8 member household. $98,650

    Note that USDA income limits vary by area, though. In San Francisco, California, where the cost of living is among the highest in the nation, the 2015 USDA income limits for a 1-4 member household is $131,100.

    USDA income limits in Raleigh, North Carolina start at $91,800.

    Households of more than 8 members can add eight percent for each additional member to their 1-4 member household USDA income limit.

    What Are Today’s USDA Mortgage Rtes

    For home buyers in search of a low- or no-money-down mortgage, the USDA home loan offers low rates, flexible guidelines, and inexpensive mortgage insurance.

    Take a look at today’s real mortgage rates now. Your social security number is not required to get started, and all quotes come with instant access to your live credit scores.

    The information contained on The Mortgage Reports website is for informational purposes only and is not an advertisement for products offered by Full Beaker. The views and opinions expressed herein are those of the author and do not reflect the policy or position of Full Beaker, its officers, parent, or affiliates.



    Mortgage Basics: Loan Eligibility #pay #off #debt


    #home loan eligibility
    #

    Mortgage Basics: Loan Eligibility

    “How much house can I afford?” It’s a critical question that every homebuyer faces, and one that many people answer by going to a lender and taking out the largest mortgage that the lender will approve. While this strategy will help you get the largest, most expensive house that you can qualify for, being eligible for a loan and being able to afford the property aren’t necessarily the same thing. (For more insight, see Mortgages: How Much Can You Afford? )

    From a lender’s perspective, loan eligibility is based on a formula. The most common rule of thumb is that your monthly mortgage payment should not exceed 28% of your gross income. This calculation includes more than just the base price of the house. Consider, for example, a $50,000 gross income. Based on 28% of that amount, the mortgage payment would be $14,000 per year or $1,166.66 per month. That $1,166.66 needs to cover all four potential components of a mortgage: principal. interest. taxes and insurance. often referred to as PITI .

    If your credit history is good, the lender may let you take out a mortgage with a monthly payment equal to 30% or even 40% of your gross monthly income. In our example, 40% would get you a yearly mortgage payment of $20,000 or $1,666.66 per month. The $500 per month difference would let you afford a more expensive home, but you should take a close look at your finances before making such a decision.

    Gross Vs. Net Income

    Although mortgage eligibility is based on gross income, your monthly payments are made from your net income. This means that your ability to afford the payments can look quite different once the mortgage actually needs to be paid. That $50,000 gross income is reduced to $36,000 net after 28% goes to pay taxes. Taking $20,000 out of that to pay the mortgage leaves you $16,000 to live on for the year. On a monthly basis, that’s $1,333.33. Factor in a car payment, credit cards and student loans to cover the cost of your education or tuition bills for your children and there might not be much left over at the end of the month. Although you may be able to qualify for that $1,666.66 loan on paper, actually taking it might not be the best financial move that you could make. On the other hand, if you are debt free and have a rainy-day fund stashed away in case of emergencies, a mortgage that takes up such a large chunk of your gross income may not be a problem. (For more insight, read Are You Living Too Close To The Edge? )

    Another rule of thumb to consider is that your debt-to-income ratio should not exceed 36% of your gross income. To calculate your maximum monthly debt based on this ratio, multiply your gross income by 0.36 and divide by 12. For example, if you earn $50,000 per year, your maximum monthly debt expenses should not exceed $1,500, which would include your mortgage. Referring back to our example, the $1,333.33 monthly mortgage payment might be enough to break the bank for someone with heavy debts or big spending habits, while the $1,666.66 monthly payment is just slightly more than the 36% of gross income and perhaps well within the means of a prudent spender.

    Determining Eligibility

    Sitting down with a calculator will give you a good idea of where you stand in relationship to the loan amount you can probably qualify for and the debt-to-income ratio that you can actually afford. In the excitement to purchase a new home, don’t lose sight of the reality that lenders are in business to make loans. They will let you borrow the maximum amount that you can qualify for because they charge interest on that amount. The more money you borrow, the more money the lender earns in interest. Also, many lenders sell their loans to investors, so the lender itself many not stand to lose anything at all if you default on your loan.

    House Poor

    Taking out a large loan often results in a situation referred to as being ” house poor “. Being house poor is generally not a good idea. While you may be able to make the monthly mortgage payments and even pay your other bills too, you are one large expense away from disaster. Should you need to make a major repair to your car, purchase a new appliance, or encounter any other scenario that requires a substantial outlay of cash, you are going find yourself in a tough spot and could end up losing your home, filing bankruptcy. or both.

    Play It Safe

    Regardless of the size of the loan a lender offers, don’t buy more house than you can afford. If you purchase a home and, after making the payments for a few years, find that you have considerable discretionary income left or have substantially increased your income since making the purchase, you can always move. Of course, if you like where you live, you can make extra payments and potentially retire your mortgage early.



    Loan Against Property – Eligibility Criteria and Documents Required #dollar #loan #center


    #loan against property
    #

    Eligibility

    Documents Required

    You can take a loan against property for any reason like getting your son or daughter married, expanding your business, taking a foreign vacation and sending your children to overseas for study. It is a secured multi-purpose loan with longer tenure and lesser rate of interest than a personal loan. If you own a valuable asset in the form of a self-occupied house or a commercial property you can go for a loan against property.

    The documents required while applying for loan against property are similar to those of home loan except for three additional documents. The documents required vary from bank to bank.

    • Proof of residence–A copy of your passport, ration card, driving license, telephone bill or electricity bill to show that you reside at the same place as mentioned in the documents.
    • Income proof–The proof of income for salaried individuals will differ from that of self- employed individuals. Salaried people need to submit their latest salary slip, Form 16 (along with salary certificate from the employer), and their bank statement for the last 3 months. Self-employed people need to provide their IT returns for the last 2 years, balance sheet, and profit loss account, and bank statements for the last 6 months as proof of income.
    • Photocopies of all the property documents need to be handed over prior to sanction of the loan.
    • You also need to give a declaration stating that the loan amount would not be used for the purposes of carrying out any illegal activities or for speculative activities.
    • A valuation report of the flat from the professional valuer appointed by the bank.


    Home Loan Eligibility – Online HL Eligibility Calculator #need #a #loan #now


    #home loan eligibility
    #

    Home Loan Eligibility Details

    Home Loans are secured advances made by lenders to borrowers to meet their financial requirements for the purchase of a house or flat or property (land). It could be a home bought for residential or investment purposes.

    Eligibility Criteria for Home Loans:

    Home Loan Documentation:

    Ways to increase eligibility:

    • Maintain a good credit score – healthy repayment habits on credit cards and existing loans
    • Display stability in income, employment, residence
    • Include co-applicants to supplement income
    • Provide a guarantor to improve credibility
    • Repay existing loans
    • Buy top-tier properties/ buy from reputed builders
    • Buy a new property vs. old one

    Check Your Home Loan Eligibility:

    Bank Bazaar enables users to check how they fare on eligibility by inputting key background information relating to income, age, employment,existing loans etc.

    The result are provided with free, instant quotes on the best home loan offers available to them based on data provided.

    Users can then compare their offers across various lenders and apply for the loan of their choice, availing of exclusive offers provided by Bank Bazaar to its users through collaborations with leading institutions.



    Home Loan Eligibility Calculator, Housing Loan Eligibility – ICICI Bank #unsecured #loan


    #home loan calculators
    #

    Home Loan Eligibility Calculator

    Calculate Home Loan Eligibility

    Your dream home is now within your reach with ICICI Bank Home Loans. We offer higher loan amount on your income. Your home loan eligibility can be further enhanced by including income of the co-applicant(s) of your Home Loan.

    Home Loan eligibility is calculated after considering various factors including monthly income, fixed monthly obligation, current age, retirement age etc. Your home loan eligibility can also be considered an indicator of your home loan affordability.

    Why should one calculate home loan eligibility through ICICI Bank website?

    Our eligibility calculator gives the most accurate estimate of home loan that you can borrow from ICICI Bank. Our website also allows you to apply for instant sanction of your loan, even if you have not finalised the property. Please click here to visit the Apply or Refer Online section on the website for benefits of applying online.

    • Internet Banking

    Explore the power of simpler and smarter banking. Bank online with over 250 services

  • Mobile Banking
    Bank on the go with our Mobile Banking services. Download app or use SMS
  • Pockets by ICICI Bank
    VISA powered Universal payment wallet. Download today
  • Find ATM/Branch

    Bank 24/7 through a widespread network of over 4,050 branches and 13,180 ATMs



  • Home Loan Eligibility Calculator #loan #point #usa


    #home loan eligibility
    #

    Home Loan Eligibility Calculator

    Home Loan Eligibility Calculator will help the borrower to understand his loan eligibility i.e. the approx. amount of home loan which he will be eligible on the basis of the income and tenure of home loan chosen by him.

    Lenders normally grant home loan up to maximum of 80% (90% for loan amount below Rs 20 lakhs) of the agreement value of the property as a home loan in India. The overall home loan eligibility is a product of several factors like borrowers occupation (whether salaried / self-employed), his disposable income, number of dependents, the interest rate charged by the bank and the tenure of the loan.

    The rate of interest on home loan not only influences the amount of EMI, but also loan amount eligibility. A higher interest rate can bring down the loan amount eligibility and vice versa, because lenders consider a certain percentage of individual’s income as available for the payment of EMI’s on all loans. This percentage of income which a lender considers as available for servicing can vary from person to person depending on his level of earnings and current and future liabilities.

    Making earning spouse, parents or children as co-applicant and co-borrowers to the housing loan can enhance your home loan eligibility. The borrower can also enhance his home loan eligibility by increasing the tenure of the housing loan.

    An illustration below can help one to understand how a change in tenure can effectively increase the home loan eligibility.

    Illustration:

    Mr. Sharma earns a monthly salary of Rs. 1,00,000/-. He wants to take a home loan for purchasing a property and has no other outstanding loan on his name at present. Assuming that he has satisfied all other criteria and the bank has considered 40% of his net income as available for payment of EMI, hence he will have Rs. 40,000 p.m. for payment of home loan EMI.

    If current rate of interest of the bank is 10.5% p.a. for 15 years tenure, Mr. Sharma will be eligible for approx. Rs. 36.19 lakhs at an EMI of Rs. 1105 per lakh.

    Now, if Mr. Sharma wants to increase his home loan eligibility, he has an option to opt for a longer tenure say 20 years. So at same rate of interest of 10.5% p.a. he will be eligible for approx. Rs. 40.06 lakhs at an EMI of Rs. 998 per lakh.

    To get a fair idea about home loan eligibility amount, the borrower can use our simple home loan eligibility calculator with very user-friendly guiding tools. As the final home loan amount is dependent on various factors, our home loan eligibility calculator will display a range for loan eligibility amount.

    Note: All calculators and comparators are made based on certain assumptions which may not be true in your case. You should consult your personal financial advisor before taking any decision. Apnaloan disclaims any responsibility for any decision taken based on these calculators and comparators.



    Here s how banks calculate home loan eligibility. #lowest #auto #loan #rates


    #home loan eligibility
    #

    Here’s how banks calculate home loan eligibility

    Updated on: July 15, 2011

    T his article is aimed at clearing doubts over how a bank calculates your net income while calculating the eligibility for total home loan amount. Normally, all banks provide home loans up to 60 times your monthly net income.

    • You have a monthly in-hand (take home) salary as Rs 50,000 and you are looking for a home loan of about Rs 30 lakh.
    • Your gross monthly income might be much more than Rs 50,000 per month but that does not matter while calculating the net income.
    • You don’t have any other loan like car or personal loan on your name.
    • Bank rules say that you are eligible to get 60 times your monthly net income as loan.

    Well, all sounds good till the time you are talking to your bank executive or an agent over phone for your eligibility. They ask you for your net income, you answer Rs 50,000 per month and they immediately say that you are eligible for a loan that is 60 times your monthly net income, that is, Rs 30 lakh. You are excited that everything is going as per your expectations and think you will get the amount you were looking for.

    Click NEXT for more



    HDFC Home Loan Eligibility Calculator #student #loans #without #cosigner


    #home loan eligibility calculator
    #

    HDFC Home Loan Eligibility Calculator

    HDFC Home loan eligibility calculator helps the potential home loan customers compute their eligibility using the online calculator in order to ascertain whether or not an individual is eligible to acquire home loan of a particular amount or not. A home loan eligibility calculator helps you calculate as to how costly a house can prove to be for you based on your income and other inter-related factors. The home loan eligibility calculator provides the loan applicant with an assistance to determine his ability, capacity to avail a particular home loan scheme on the basis of the following factors:

    • Net pay – Net salary or the net pay is the ultimate income or the remaining amount of income after making all tax and other sorts of deductions from the gross/total salary of the individual.
    • Loan Amount – This is the amount of home loan required by an individual. Normally if the EMI amount is lower than half of the income of the individual than he/she is eligible for the home loan without doubt.
    • Loan Tenure – This refers to the total duration or the period for which the loan has been acquired in terms of years.
    • Applicable interest rate – The rate of interest opted by the home loan applicant is also an important factor to determine whether the home loan applicant is eligible to acquire the home loan or not. The interest may be charged either at fixed interest rate or floating interest rate.

    HDFC Home Loan Enquiry Questions

    The bank’s home loan department does enquiry about customers who have applied for home loans, Apart from the monthly income of an individual there are certain other factors taken into consideration by the bank in order to ensure the eligibility of the individual are:

    • Profession – Profession of the home loan seeker is also an important factor considered as to whether to or not to grant the home loan.
    • Location of the property – The bank also takes an account of the area and the location of the property for which the home loan is being seeked.
    • Profile of the home loan applicant – The profile of the individual is another important factor considered by the bank that helps them decide upon if the home loan applicant would be able to repay the loan or not.

    Any person wishing to avail a home loan from any banking or financial institution is advised to find out definitely if he/she is capable of repaying the home loan so acquired. The repayment capability of any individual home loan applicant depends upon various factors like –

    • Salary of the individual
    • Income of the close family member/spouse
    • Age factor
    • Number of dependent family members
    • Financial assets and liabilities
    • Other loan commitments(if any)
    • Savings made over a period of time

    All these factors are taken into account even by the HDFC before agreeing upon providing home loan to an individual so that he/she is than able to repay the home loan amount without any hassles. The main idea is to calculate the amount of home loan an individual is liable to on the basis of his earnings.

    You can find more on HDFC home loan eligibility criterion and eligibility calculator on the HDFC website www.hdfc.com