Once you’ve made up your mind to get a Home Loan, the journey from there can be simple, if you plan properly. With Bajaj Housing Finance, the Home Loan application journey is easy for all borrowers, be it salaried, professional, or self-employed, because our Home Loan processes are simple and hassle-free.
It is important to thoroughly understand the application procedure if you are an aspiring borrower to enhance your chances of getting your Home Loan approved. This can help you score well against all the eligibility parameters or take corrective measures to strengthen your Home Loan eligibility.
Frequently Asked Questions
Loan disbursal is the final stage of a successful loan application, wherein, after verifying all documents submitted by the borrower and evaluating their eligibility, the lender proceeds to disburse the loan amount.
If the lender disburses the full principal amount, it is classified as full disbursement. This can typically occur if the borrower wants to purchase a ready-to-move-in property, or a resale property.
Part disbursement occurs when the borrower requires their Home Loan amount in instalments. This is usually applicable to construction linked payment plans, wherein, homebuyers pay the project developer in parts, after each phase of construction is completed.
The Home Loan Sanction Letter is a document issued to borrowers by their lenders as an agreement between the two parties. The letter details all the Home Loan terms that are agreed upon, such as the repayment schedule and interest rate.
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