17.3.13

Procedure for gettting house loan

If you are looking for a  house loan, please follow the below steps.

1.       Go to a Civil engineer, get the  blue print of the house and get the estimate from him
2.       Collect the following documents self attested when you go to any bank for the house loan
a.       Land records- It should be in your name and record should be available for last 2 transactions.
                                                               i.      Permission from the corporation/Panchayath to build house
                                                             ii.      Original RTC
                                                            iii.      Conversion record
                                                           iv.      MUDA  - No due certificate
                                                             v.      Land records in original- deed of settlement

b.      Income proof :
                                                               i.      Last 6 months bank statements
                                                             ii.      Salary slips – last 3 months
                                                            iii.      Last 2 financial year – Form 16 ( IT)
                                                           iv.      Any other loan – Car, Bike etc details

3.       Once the above  documnents are submitted, BANK will send to the independent lawyer for verification. This process usually will be done by bank itself and require one week time generally.

4.       If you are building a  new house, 80% of the amount will be  given by the bank. But the money will not be delivered  immediately. It will be delivered in 3-4 lots depending on the banks.Frequent visit by the bank  site engineer  to assess the work will be done and the subsequent amount  will be transferred.