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Dos

Know your eligibility

Always keep the tenure maximum – Gone are the days where bank charge you for making extra payments on your home loan. Don’t bind yourself Always keep your tenure high to keep your monthly obligation low. Whatever you save should be used for investments or voluntary payment towards the home loan.

Always opt for ECS

Always cover a loan with basic term insurance

Look beyond interest rates and low processing fee

Include wife in loan for better rates and tax efficiency

Always pay the missed EMI in the same month

Stamp Duty and Registration cannot be included in the loan amount

Include other family members in home loan application to boost eligibility

Get expert advice from the mind your savings team

 

DONTs

Don’t blow all your money on EMI and always keep room for investments

Don’t put application with multiple banks

Don’t make over commitments to sellers or builders by blindly trusting bank timelines

Avoid borrowing from co operative banks etc

Don’t avoid conservative banks to fast track your loan process

Don’t submit the file with incomplete documentation

Never let your processing fee bounce

Never blindly trust any bank representative. Its always advisable to go with trusted agents.

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REASONS FOR REJECTION

Credit Score

Insufficient Valuation

Repaying Capacity

Improper personal and property documents

Property located in blacklisted area

Income instability

Signature mismatch

Blacklisted builder

No property insurance

Physical condition of the property

Customer profile and dependants

Processing fee cheque got bounced

Research beyond the business plan

We also ensure that the whole team is included in the process and that no one is left out during the turnaround. The most crucial part is ensuring some degree of financial stability during the turnaround.

This is the most worrying part for most clients going through or needing a turnaround; it means that incoming cash flows will change completely. We help ease these issues through fantastic financial projections and a realistic view of what can be accomplished.

Creating a list of potential qualified prospects for your service or product can be daunting when you’re beginning your business. However, this needs to be considered as a follow up on your Target Market Analysis so you can hit the ground running.

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