Reverse Mortgage Introduction: A reverse mortgage is a loan available to senior citizens, and is used to release the home equity in the property as one lump sum or multiple payments. The homeowner’s obligation to repay the loan is deferred until the... (Continue reading)
Housing Loans & Various Types of Frauds Detected by Banks After the various big Bank scams of the period from 1990s, Banks felt that it is necessary to spread their risks by advancing monies to individuals, specially against mortgage of immovable... (Continue reading)
Special features of product offerings by various HFCs: Standard Chartered ANZ has launched the Home Saver Account . Along with the Home Loan, your will get a FREE current bank account into which you may deposit your monthly salary. The... (Continue reading)
Standard Chartered Relaxable conditions ( on a case – to – case basis) Maximum Age of Building : 25 yrs Work Experience of atleast : 3 yrs Business was profitable for the last : 3 yrs Additional Conditions Security required : First mortgage OR Pari... (Continue reading)
SBI Relaxable conditions ( on a case – to – case basis) Maximum Age of Building : 35 yrs Work Experience of atleast : 2 yrs Business was profitable for the last : No yrs Additional Conditions Security required : 1st mortgage only Collateral required : No Free... (Continue reading)
LIC HOUSING FINANCE LTD Relaxable conditions ( on a case – to – case basis) Maximum Age of Building : 35 yrs Min. Disp Income : Rs 72000 Business was profitable for the last : 3 yrs Additional Conditions No. of guarantors required : 1 Security required... (Continue reading)
Kotak Mahindra Bank Relaxable conditions ( on a case – to – case basis) Maximum Age of Building : 30 yrs Min. Disp Income : Rs 144000 No. of years after establishment of the business : 3 yrs Annual Sales : Rs 144000 Business was... (Continue reading)
ICICI Relaxable conditions ( on a case – to – case basis) Maximum Age of Building : 35 yrs Business was profitable for the last : No yrs Additional Conditions Security required : 1st mortgage/pari passu Collateral required : No Free Personal Accident cover : Provided by company Free Personal Property... (Continue reading)
HDFC Relaxable conditions ( on a case – to – case basis) Maximum Age of Building : 40 yrs No. of years after establishment of the business : 2 yrs Business was profitable for the last : 0 yrs Additional Conditions No. of guarantors required :... (Continue reading)
Canfin Homes Ltd. Relaxable conditions ( on a case – to – case basis) Maximum Age of Building : 15 yrs No. of years after establishment of the business : 3 yrs Business was profitable for the last : 3 yrs Additional Conditions No. of guarantors... (Continue reading)