Mysore is the third largest city of the state of Karnataka by population. The city has been officially been renamed as Mysuru. The city is located in the base of the Chamundi hills which is 146 kms from the capital city Bengaluru of the state of Karnataka. One of the major industries of Mysore is tourism. There are also traditional industries such as weaving, sandalwood carving, bronzework.
Home loan
Home loan offers best financial support when buying a house. Here, a lump sum amount is borrowed against 70% – 80% of the property value. The amount loaned is repaid in easy EMIs at fixed and floating interest rates. In case you are unable to repay the loan on time, the lending institution has the right to acquire your property.
Home Loan Eligibility
For home loan approval, you should have the required eligibility criteria.
- Age of the borrower should be from 21years to 65 years
- For self employed, should have the required education
- Should have the required monthly income and job stability
- Co-applicant’s income and credit score, if any
- Good credit score and history
- Liabilities of other loans such as personal loan, education loan, car loan etc.
Home Loan Documentation
- Filled and signed application form with photograph
- Processing fee by cheque or draft
Home Loan Features
- Quick and easy processing
- Protection of home loan with ‘Home loan insurance’
- Choose from the fixed or floating interest rate with ‘Flexible interest rate’ feature. Where in the former the rate remains constant throughout the loan tenure and in the latter the interest rate depends on the market.
- Transferring of ongoing home loan to a new lender with a lower interest rate through ‘Home loan balance transfer’
- Advance home loan approval with ‘Pre-approved home loan and save your time lost in documentations and other responsibilities.
