While the prospect of buying a home is exciting, most people keep putting it because it can strain their finances immensely. Don’t let the shortage of funds crush your dreams. Utilize the option provided by Antworks Money for taking out easy home loans.
Our online lending and peer-to-peer lending (P2P) channel help cash-strapped individuals fulfill their aspirations of homeownership without having to cough up a huge chunk of money. The online marketplace eliminates the role of the financial establishment by enabling borrowers to interact directly with lenders for acquiring home loans at a lower rate.
What is a Home Loan?
A home loan is funding advanced by banks or financial establishments in return for security (existing house, a plot of land, assets) to enable a home purchase. It is a secured loan, meaning if the borrower defaults and is unable to repay the complete debt along with interest, the lender may sell the property to settle his dues.
Procurement of home finance is pretty straightforward. Many financial institutes are now offeringonline home loans. The application procedure involves uploading a few personal details along with some documents to assess the borrower’s eligibility on parameters like income, credit history, employment, repayment capacity, property details and more.
Once the lender is satisfied, the loan amount is sanctioned within the range of around 70-80% of the total property value. The reimbursement of the loan is through monthly EMIs for the contracted term (anywhere between 5 to 30 years). The interest can be at a floating or fixed rate.
Types of Home Loans:
There are various types of home loans designed to match different needs. These include:
Home Purchase Loan: This is the basic type of loan used to purchase a new or an old property.
Home Improvement Loan (HIL): This loan can be availed to refurbish your existing home or carry out external /internal restoration.
Home Construction Loan: This is a new home loan that can be used to plan and construct an abode as per your wishes rather than opting for something already built.
Home Expansion Loan: Want to make alterations in your current home by building another floor or a few additional rooms? A home expansion loan is perfect for this purpose.
Home Conversion Loan: This type of funding can be used by those who have already been sanctioned a home loan but want to transfer it to fund a new purchase.
Land Purchase Loans: The money can be borrowed to buy land for an investment purpose or the construction of a house.
Refinance Loans: The refinance home loans are intended for those who want to restructure their current loan or replace it with a new one from another lender to avail a lower rate of interest.
Apart from the above home loans, there are NRI loans, Bridge loans, Stamp-duty loans, Balance-Transfer loans and more.
Revolutionary Lending Platform:
If you are looking for any type of home loan, Antworks Money is the answer! Our revolutionary lending marketplace provides the besthome loan services. The entire application process is fast, upfront and without any tedious paperwork.
Armed with the innovative technology, analytics and proprietary algorithms we empower borrowers to acquire funding from screened lenders in a secure environment. Further, thanks to our efficient and intelligent system in place, you can evaluate and compare the offerings of various lenders to snag a deal at the best rates available. And yes, Antworks Money boasts a team of supportive personnel that strives hard to deliver superior customer service for 100% satisfaction.