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Home / Finance / Home Loan / What is the Home loan disbursement process?
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What is the Home loan disbursement process?

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0 2023-07-04T17:10:35+00:00
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Hi,

The home loan disbursement process involves several steps:

  • Loan approval:

    After submitting the home loan application with all required documents, the lender reviews the application, checks the creditworthiness of the borrower, and approves the loan based on various factors such as income, credit score, and property valuation.

  • Loan agreement signing:

    Once the loan is approved, the borrower signs the loan agreement, which includes terms and conditions, interest rate, repayment schedule, and other details.

  • Property valuation:

    The lender conducts a valuation of the property to determine its market value and ensure it meets their criteria for lending.

  • Loan disbursal:

    After completing the necessary legal and technical formalities, the lender disburses the loan amount to the borrower. This can be done through direct credit to the borrower's bank account or by issuing a demand draft.

  • EMI commencement:

    The borrower starts repaying the loan through equated monthly installments (EMIs) as per the agreed-upon repayment schedule.

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Harsha Vikas

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