Home loan less than 8.5% possible?

[sidmanraj]

I am getting home loan at 8.5% from sbi.
lawyer fees 3.5k
valuation fees 3.5k
Is it still possible to get less than 8.5%?


Should I hire lawyer from my side too, if bank is doing verification?
Who will prepare the legal documents?
When should i pay the advance to the owner after the loan is approved?

 

[prankster]

Check Bob, they offer 0.10- 0.15 % less, with some conditions like female buyer, insurance, etc

 

[deep@vie]

Check Bob, they offer 0.10- 0.15 % less, with some conditions like female buyer, insurance, etc

Try PNB as well

 

[sidmanraj]

Try PNB as well

PNB vs BOB which is better?
What is the processing fees?
Should I hire lawyer from my side too, if bank is doing verification?
Who will prepare the legal documents?
When should i pay the advance to the owner after the loan is approved?

 

[S9100]

Try PNB as well

Government bank have better rate usually. Worst are NBFC.

 

[Pissant]

What are Axis’s rates like for true Burgundy customers?

 

[anujdit]

If SBI lawyer validated the property then it is good enough. SBI will not provide loan on property with issues.
You can pay advance to owner on condition of loan approval and no issue with land/property papers. Once loan will be approved then SBI will issue a draft of loan amount which can be handed to owner at time of registry. You can pay balance amount too on day of registration

For registration and legal papers, you need to take help from some property agent (if involved) or lawyer. SBI will prepare only loan related papers.

 

[opaque]

I am getting home loan at 8.5% from sbi.
lawyer fees 3.5k
valuation fees 3.5k
Is it still possible to get less than 8.5%?


Should I hire lawyer from my side too, if bank is doing verification?
Who will prepare the legal documents?
When should i pay the advance to the owner after the loan is approved?

If you are salaried, check if your company has tie up with SBI and check if your loan processing fee can be waived off with having corporate salary accou

If SBI lawyer validated the property then it is good enough. SBI will not provide loan on property with issues.
You can pay advance to owner on condition of loan approval and no issue with land/property papers. Once loan will be approved then SBI will issue a draft of loan amount which can be handed to owner at time of registry. You can pay balance amount too on day of registration

For registration and legal papers, you need to take help from some property agent (if involved) or lawyer. SBI will prepare only loan related papers.

If you are salaried -

SBI waives off loan processing fee and 0.1% lower interest if you have corporate salary account with them. Check if you are eligible for this offer. It depends on your company tie up with the bank.

 

[sidmanraj]

Try PNB as well

PNB vs BOB which is better?
What is the processing fees?
Should I hire lawyer from my side too, if bank is doing verification?
Who will prepare the legal documents?
When should i pay the advance to the owner after the loan is approved?

If SBI lawyer validated the property then it is good enough. SBI will not provide loan on property with issues.
You can pay advance to owner on condition of loan approval and no issue with land/property papers. Once loan will be approved then SBI will issue a draft of loan amount which can be handed to owner at time of registry. You can pay balance amount too on day of registration

For registration and legal papers, you need to take help from some property agent (if involved) or lawyer. SBI will prepare only loan related papers.

If I go with BOB do they also do proper validation?
If I pay advance of 10L to owner before loan approval, then there should be some document for it?
Rest amount can we do in cash, is it ok with bank.
How much does lawyer charge for registration and legal papers?

 

[Zacobite]

I am getting home loan at 8.5% from sbi.
lawyer fees 3.5k
valuation fees 3.5k
Is it still possible to get less than 8.5%?


Should I hire lawyer from my side too, if bank is doing verification?
Who will prepare the legal documents?
When should i pay the advance to the owner after the loan is approved?

this is a v v v gd rate.. lesser maybe possible to 8.4/8.45 but LTV maybe lower.. If SBI is giving a loan means the legal will be clear

 

[Credit raja]

Check out AXIS Shubharambh and Axis Fast Forward Product.

 

[sriteja]

I am getting home loan at 8.5% from sbi.
lawyer fees 3.5k
valuation fees 3.5k
Is it still possible to get less than 8.5%?


Should I hire lawyer from my side too, if bank is doing verification?
Who will prepare the legal documents?
When should i pay the advance to the owner after the loan is approved?

I am currently in the same boat, and I am going with BoB as they are offering 8.4%. The legal checks by lawyer is same irrespective of you going with SBI or BoB.

PNB vs BOB which is better?
What is the processing fees?
Should I hire lawyer from my side too, if bank is doing verification?
Who will prepare the legal documents?
When should i pay the advance to the owner after the loan is approved?

For Bob
1. Manager promised no processing fee
2. AFAIK, you don't need a lawyer, the bank assigned lawyer will do the verification of property by checking for last 30 years.
3. Legal documents for what?
4. I would suggest you to pay it after only you receive the sanction letter. Because many times, there might be a chance that seller won't have proper documents for last 30 years and bank won't give you loan. If the seller is insisting on advance pay a minimal token amount (maybe 10000) on the condition that you would get it back if loan is not approved

 

[prashu]

Does bank provide mortgage loans for the home which is constructed on Abadi land ?

 

[Digvijay]

Union bank of India and Bank of Maharashtra were offering at 8.35% last quarter, not sure if changed this month or not.

 

[KGSIPO]

Following the thread

 

[sidmanraj]

I am currently in the same boat, and I am going with BoB as they are offering 8.4%. The legal checks by lawyer is same irrespective of you going with SBI or BoB.



For Bob
1. Manager promised no processing fee
2. AFAIK, you don't need a lawyer, the bank assigned lawyer will do the verification of property by checking for last 30 years.
3. Legal documents for what?
4. I would suggest you to pay it after only you receive the sanction letter. Because many times, there might be a chance that seller won't have proper documents for last 30 years and bank won't give you loan. If the seller is insisting on advance pay a minimal token amount (maybe 10000) on the condition that you would get it back if loan is not approved

1 how much are you paying for legal and valuation charges? Here they are asking for 10k. Did you apply online or offline.

2 there is no document needed like registering or transferring ownership??

3 if we add a women in the loan agreement, will we get extra 0.5% less?

4 which variant of home loan are you applying for?

 

[sjmajumder]

I am getting home loan at 8.5% from sbi.
lawyer fees 3.5k
valuation fees 3.5k
Is it still possible to get less than 8.5%?


Should I hire lawyer from my side too, if bank is doing verification?
Who will prepare the legal documents?
When should i pay the advance to the owner after the loan is approved?

Hope you have opted for MaxGain

 

[r1210user]

I got 8.45 from PNB for 30 years. If your credit score in any of 4 credit rating agency is more than 800, you can get 8.4.

 

[sidmanraj]

Hope you have opted for MaxGain

need to check what would be the interest with and without Baroda Premium Home Loan Advantage,

 

[Credit_Cards]

following . .