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Category: Home Loan

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Co-borrower vs Co-owner vs Co-applicant

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Co-borrower, co-owner and co-applicant are the terms that some people use interchangeably. However, each of these terms has its associated legalities and financial obligations related to home loans. Therefore, you must know what these terms mean and how they are different. Who is a Co-applicant? A co-applicant is a person who applies for a home...
ITR to avail a home loan

Is it essential to file an ITR to avail a home loan?

Team PaisaBazaar1 Comment
To purchase your dream home, you will need to make a substantial financial investment. If you do not have the funds available, getting a home loan is the best option. A home loan provides you with the necessary funds and gives you a longer tenure to repay the amount. However, getting a home loan has...
Home Loan Closure Check List

Home Loan Closure Checklist

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There is nothing more overwhelming than paying your entire home loan and becoming a proud homeowner. And while you are celebrating the end of your home loan EMIs, you must understand all aspects of home loan closure. A home loan is not considered closed unless your lender declares the same, and therefore, we have curated...
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Everything About Benami Property Act

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In the past few years, we have seen that our government has taken some major steps to put an end to the black money dealings. Various measures, such as the Income Disclosure Scheme, the Black Money Act and Demonetization, have been taken to put a halt to the black money market. In this context, the...
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Home Loan Sanction Letter vs Disbursement

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Home Loan Process A home loan process broadly involves three steps - application, sanction and disbursal. The first step is quite straightforward; it requires the applicant to submit the home loan application form to a lender along with the required list of documents. The next two steps of a housing loan process i.e. sanction and...
How to Avail Home Loan Subsidy Under PMAY

How to Avail Home Loan Subsidy Under Pradhan Mantri Awas Yojana?

Vandana Punj90 Comments
Pradhan Mantri Awas Yojna (PMAY) - Credit Linked Subsidy Scheme (CLSS) is a government scheme launched with an aim to make buying home easier for: Economically Weaker Section (EWS) Low Income Group (LIG) Middle-Income Group 1 (MIG-I) Middle-Income Group 2 (MIG-II) The scheme offers subsidized home loan interest rates based on your household income. The...
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