#home renovation loan by Shubham

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Shubham is a Private Home loan finance company in India; It is provides housing loan for all those people who earn cash income. 

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Shubham Home Finance Company is a best housing finance company in India. It is provide housing finance solution for those people who earn cash income. 

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Shubham Housing Finance provide home loan under PMAY scheme for informal people without any income document. 

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Why You Should Require a Home Loan

Purchasing a new house with cash amount in one go is impossible. So one can apply for a home loan according to their own requirement. Buying a home can be the best rewarding decisions of your life. By taking a home loan from a reputed company you can make it both memorable and hassle-free.

We are living in a period where our dreams are expensive and when you have a helping hand with you, one need not have to take any stress. The top lenders are offering home loans at an affordable rate and also within your budget, which makes our life sorted.

The best finance companies make the whole process simpler and faster with various options such as low-interest rates, tax benefit, flexible repayment options, etc. You can now take these advantages, here they are:

1. Low-interest rates: Almost all banks in India offers home loans at affordable price. Thus it is quite difficult to decide from which bank to take the home loan. Currently, the top financial companies provide home loans at a low-interest rate. Some of the banks are SBI, HDFC, Axis Bank, and Shubham Housing Development and Finance. However, you can check which bank has the lowest processing fee and the eligibility criteria.

2. Tax benefit: Buying a house is everyone's wish and it comes with multiple tax benefits which significantly reduce your tax. Considering the fact that when you take a home loan to buy real estate, the loan is of a large amount. When you use them correctly, you will be able to save a significant amount of money. You can also claim deductions with regards to the interest that you pay on your home loan under Section 24 of the Income Tax Act.However, Shubham housing finance provides a loan with lots of benefits than any other banks and fetches you a tax benefit on the interest component.

3. Flexible repayment schedules: Home loans last for long periods of time, usually more than 10 years. This means that you can plan your repayment in an appropriate manner, taking the long tenure into consideration. SHDFC helps you fulfill your dream quickly and repay your loan comfortably as they have various modes of repayment options.

4. Home loan EMI calculator:  A home loan EMI calculator would help customers who are willing to take a home loan. It helps you to decide beforehand how much loan amount you want, what interest rate you are comfortable with and the tenure of the loan.

Are you looking for a home loan? We are here to help you. Kindly reach us at https://shubham.co/contact-us.php. Source by https://shdfc.blogspot.com/2019/05/why-you-should-require-home-loan.html

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How to reduce the EMI of your home loan

Switching the loan to a lender offering a lower interest rate helps the borrower in the long run. Home loans are usually long-term loans, whose tenures generally range from 15 to 30 years. 

Hence, switching the loan to a lender offering a lower interest rate helps the borrower in the long run. However, note that changing the loan will not be possible in case of irregular repayments made by the borrower to the current bank.

There are several strategies that you can adopt to reduce your home loan EMI. You will have calculated the monthly repayment amount in advance with a home loan EMI calculator. You can try using a home loan EMI calculator to know the EMI if you can. Here’s how you can reduce your home loan EMI:

Process of the Transfer: Firstly, as a borrower, you need to close the deal with your existing bank. For this, you need to submit a letter to your current lender requesting a loan transfer. The bank will give a consent letter or a no-objection certificate (NOC) based on your request, with the details of your outstanding loan amount.

The consent letter then needs to be given to the new lender who approves the outstanding loan amount on your behalf to the old lender. Once the transaction is completed, the new lender gets hold of your property documents. Cost-Benefit: You can choose a longer home loan tenure to lower the EMI. The monthly payment will be lower, although you will end up paying more interest on the loan for a longer tenor. Home loan Prepayments: Prepayments are good ways to lower your EMI for a large part of your home loan tenure. Early prepayments for a chunk of the loan in the early stages will help you reduce the principal amount and save money on future interest costs. Home Loan Balance Transfer:  In case another lender offers a lower rate of interest and improved terms and conditions, you can transfer your home loans accordingly.

However, work out the costs of repayment of the loan with the current lender and make sure that these are not higher than your projected savings due to the new lender’s lower interest rate. The lower interest rate will automatically equate to a lower EMI. Down Payment: Make a higher down payment to lower the principal amount, and hence your EMI amount will be reduced since as you lower the principal amount, the lower will be the interest that you have to pay. It will help you save more money in the long run. There are few non-banking financial companies such as Bajaj Finserv, Shubham Housing Development Finance Company, Aadhar Housing, etc. that provide EMI at a lower interest rate. If you have any queries, kindly let us know in the comment section below.

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HOME LOANS LIKELY TO GET CHEAPER THAN BEFORE

A new trend has emerged, which seems to be good news for both you and your lender. With the NDA government winning General Elections 2019, predictions are made that its focus would be on further stabilizing the bank’s lending rate.

Borrowers can pay less on their mortgages as banks shift to a new system of linking such loans this week to benchmarks prescribed by the central bank.

Loans are expected to become cheaper as the banks will link interest rates on loans to retail and small business borrowers.

To aid effective downward transmission of the RBI’s policy rate cuts, the central bank had on 4 September said that the lenders must link all new floating-rate loans for housing, auto, and micro, small, and medium enterprises (MSMEs) with the external benchmark.

It is expected that the home loans of above Rs 30–75 lakhs would be available at an interest rate of 8.25 percent. After the Finance Ministry’s reforms measure, the financial banks of India came up with the latest development.

The Reserve bank Of India said that due to various reasons, the transmission of policy rate changes to the lending rate of banks under the current marginal cost of funds based lending rate (MCLR) framework has not been satisfactory.

Therefore, banks must link all new floating rate personal or retail loans to MSMEs to make the transmission of monetary policy more effective to boost credit growth, consumption, and investment to revive the economy. However, there could be additional charges added on to this based on the profile of the customer.

New home loan borrowers can now start exploring home loan options with the banks. Do not merely look at the bank’s MCLR but know the actual home loan interest rate before finalizing the deal. Banks are allowed to charge an MCLR before disbursing the loan. Finally, make a pre-payment to repay the home loan as soon as possible and own your home with 100 percent equity of your own.

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Shubham housing finance provide loan against property without any income documents in India for those people how earn informal income.

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If you required housing loan like:- home loan, home improvement loan, loan against property, So Shubham housing finance provides housing loans without income documents for those families how to earn informal income. 

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8 Steps to be followed for Shubham’s Home Loan Process

A home loan is the first step to fulfilling your dream of owning a home. It is generally taken either to buy a house, construction of a house, or renovation.

While buying a dream home, you need to have a clear understanding of the home loan process in India — right from approval to disbursal. The following steps will take you through the entire process to avail of home loans from Shubham.

Step 1: Fill the Loan Application Form & Attach the Documents

Filling and submitting the application form is the very first step while applying for Shubham’s home loan wherein you need to give your professional and personal information, the details of the property, the estimated cost, and your assets and liability details.

Along with the application form, you are also required to attach the following documents:

Identity proof

Address proof

Income proof

Proof of educational qualifications

Age proof

Bank statements

Step 2: Pay the Processing Fee

The processing fee is generally a percentage of the loan amount. While submitting the home loan application form, you will also be charged with a minimum amount of chargeable.

Step 3: Evaluation of Application

It is essential to understand how Shubham evaluates home loan applications to get easy access to loans. The bank needs to know about your history of debts and the present income to debt ratio.

The evaluation process takes a time of maximum one day or two. You need to provide the bank with accurate information, especially your financial details, as banks sanction loans only when they are satisfied with your credentials.

Step 4: Sanction of Loan and Credit Appraisal

The final loan amount sanctioned by Shubham is according to the loan value. Your creditworthiness is calculated by the bank based on your income, age, nature of work, bank statements, and CIBIL report and then plans out the maximum loan amount that they can offer you. Make sure to read all the details carefully.

Step 5: Validation and Valuation of Property

Shubham representative will visit the site of the property before they give the go-ahead to the loan you have applied for. An expert representing the bank goes out to the location of the property to conduct validation and valuation checks.

Step 6: Processing the Property Papers Followed By a Legal Check

Once the applicant officially accepts the offer letter, Shubham next concentrates on the home property, he/she intends to purchase. Even if it is not finalized, the applicant can request a time duration to select one.

Step 7: The Final Loan Deal & Signing the Agreement

A home loan agreement is a legal document that regulates the terms and conditions of the loan and the creation of a mortgage on the home.

Before the disbursal of the home loan amount, the borrower is required to sign and execute the loan agreement.

Step 8: Disbursement of Your Home Loan

The final stage of the loan process is the disbursement. So, what is a disbursement?

It is the stage when the lender pays out the loan proceeds to the seller in case of resale property or the builder in case of a new property depending on the terms of the home loans agreement you have entered into with the lender.

Source by https://medium.com/@shubhamhousingfinance/8-steps-to-be-followed-for-shubhams-home-loan-process-cb4c5e95fb30

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Home Improvement Loan is a small portion of a loan that the house owner takes from lenders to renovate their house.

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Why Should You Opt For Shubham Home Improvement Loan?

Home Improvement Loan is a small portion of a loan that the house owner takes from lenders to renovate their house. It is a loan for those intending to upgrade or renovate their existing home. With the home improvement loans, an individual can upgrade their existing home into a contemporary and comfortable living space.

Shubham provides loan for various purposes such as the construction of a house, home renovation, home extension. These loans are similar to a home loan. While a home loan enables you to acquire a house, home improvement loans are meant for improving or renovating the home that you already own.

  WHY SHOULD YOU OPT FOR A HOME IMPROVEMENT LOAN?

Though there are various ways in which you can fund your home renovation, Shubham's home improvement loans have a few advantages that make it attractive. Here's why:

 LOWER INTEREST RATES:

While you may avail a personal loan for your home renovation, the interest on such a loan is much lower than that on a personal loan. So if you are planning to renovate your house opt for Shubham Home Improvement Loan.

 TAX BENEFIT:

Shubham provides home improvement loan with lots of benefits than any other banks and fetches you a tax benefit on the interest component. 

 MINIMAL DOCUMENTATION:

Home improvement loans require relatively simple documentation when compared to other modes of financing. All you need is necessary documentation like identity/income proof, photographs, property documents, etc. If you are an existing customer of the Shubham Housing Finance Company, then the documentation becomes much simpler.

 QUICK PROCESSING:

Home improvement loans are processed quickly as the documentation is minimal and hassle-free. Therefore you can get your renovation work started at the earliest without waiting for long for your loan application to get approved. Read More...

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HOW TO GET APPROVED FOR A HOME IMPROVEMENT LOAN

Renovating your home can be a costly affair, but a home improvement loan can help you bring all the required changes in time.

With the help of a loan, you can transform your home into a modern living space. Renovating and refurbishing your home involves a considerable expense. So, evaluating your budget is a crucial step to make sure that the cost of renovation meets your current financial goals.

However, banks and NBFCs such as Shubham Housing Development Finance Company offer home improvement loans, which can be up to 80-90% of the estimated cost of repairs. These loans are available at attractive interest rates and repayment options with easy processing and minimal documentation.

At Shubham we provide improvement loans that  give your home just the right makeover it needs with our flexible and affordable home improvement loans as the loans come with a number of benefits, including:

Flexibility to spend: One of the key benefits of a home improvement loan is the flexibility that it offers to borrowers. You can use the funds for all kinds of repairs – from civil work to carpentry, painting to masonry.

For instance, you can use the funds from a home improvement loan to pay your contractor or use it to purchase necessary equipment for renovation such as cement, tiles, etc.

Competitive rates: Our home renovation loan comes with zero pre-closure charges, minimal processing fees, and attractive interest rates.

Documents: Application form must be filled and signed by all co-applicants. Documents required are identity and address proof of co-applicants, proof of income and employment, and stamp size photographs.

Processing fees: The finance company may charge processing fees as a percentage of the loan amount. The cheque for processing fees must be given at the time of applying for the loan. On submission of application, the loan may be sanctioned if found in order, and a repayment term of up to 15 years may be provided for repayment of the loan.

Security:  Security for the loan is generally the security interest on the property financed and or any collateral or interim security as may be required by the financing institution or bank.

So if you are planning to renovate your home for long but restrain yourself due to the high costs of renovation then now you can take the first step towards transforming your home with our home improvement loan. Apply now to get the best interest rates on Shubham’s Home Improvement Loans.

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WHY SHOULD YOU OPT FOR A HOME IMPROVEMENT LOAN?

A home is not just about a roof over your head. It is much more than that. Taking a home improvement loan is a thousand times better than borrowing a personal loan. This home improvement loan gives you many financial benefits and tax benefits. You can avail of a home improvement loan to modify, refurbish, or renovate your home. The prime advantage of a home improvement loan is that it allows you to upgrade your existing home to a contemporary design and a more comfortable living space, customized as per your tastes and aesthetic preferences. These loans are similar to a house loan. While a home loan enables you to acquire a house, home improvement loans are meant for the improvement of a home that you already own. Though there are various ways in which you can fund your home renovation using a home improvement loan. We listed down a few advantages here, let's take a look. Lower Interest Rates:One of the most significant advantages of securing a home improvement loan is a lower and fixed rate of interest. If you borrow a personal loan, you need to pay a higher interest rate. Besides, in a home improvement loan, you will pay a fixed rate of interest. If you calculate a lower interest rate on a higher amount for an extended period, you will save a significant amount in the long-term. Lower EMIs:If you have borrowed the loan on a lower rate of interest for a longer period, your EMIs will be of a lower amount. You need to pay a lower EMI every month as compared to getting a loan on a higher rate of interest. Therefore, getting a secured home loan is always the best option to stick to your monthly budget. Minimal Documentation:Home improvement loans entail relatively simple documentation when compared to other modes of financing. All you need is the basic documentation like identity/income proof, photographs, a property title deed, etc. If you are an existing customer of the Shubham Housing Finance Company, then the documentation becomes simpler. Quick Processing:Home improvement loans are processed quickly as the documentation is minimal and hassle-free. So you can get your renovation work started at the earliest without a long wait for your loan application to be approved.Lesser Paper Work: A home improvement loan requires less paperwork compared to other loans. If you have already taken a home loan from Shubham housing development Finance company, then the company only conduct physical verification of the property before approving the loan. Flexibility to use:With a Home Improvement loan, you can use it to extend one room or two or extend the covered area of your home. If you managed to save money from this renovation and extension work, you could use this money for adding new cabinets in your room or improving your kitchen doors and cabinets. This kind of secured loan offers you flexibility as well as the freedom to use it for various improvements work. With Shubham Housing Development Finance Company, you can get a hassle-free home improvement loans. Also, you can upgrade your existing home to a contemporary design and a more comfortable living space. The tax deductions that come along with this loan add to the benefits. Go ahead; give your home the shape that your heart desires.

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A shubham home loan is the first step to fulfilling your dream of owning a home. It is generally taken either to buy a house, construction of a house, or renovation.