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Guwahati banks and NBFCs provide home loans with flexible pre-payment and part payment facility. Quick processing and flexible documentation. End-to-end doorstep services provided. Ability to save on interest. Get top up facilities. Apply now through CreditMantri.
In India, it is considered a matter of great pride to own a home. Owning a home is one of the top priorities of many people in India. However, buying a home is not easy, as it is expensive and not affordable for many.
A home loan is a good alternative under such a scenario, as an individual can fulfil their desires of owning a home of their choice just by paying timely EMIs. Going in for a home loan will also help the home loan borrower in getting tax deduction on the principal and interest amount of home loan as per Income Tax Act, 1961, thereby, helping save taxes on their income.
Also Read: Tax benefits on Home Loans
Guwahati, the biggest city of the state of Assam is also the largest metropolis from the North-Eastern region. Located on the banks of the Brahmaputra River, the city is called the Gateway to the Northeast being a major cultural, political, educational, transportation, and commercial marketplace of the North-Eastern region of India.
The city is a great manufacturing hub, contributing hugely to Assam’s economy. Guwahati is also known for its tea gardens, which generate employment for a vast section of society from all over India. Guwahati is one of the highest tea-producing areas in the world.
Being such a central place, the city is always bustling with activity with people from all walks of life making it their home. The growing city has seen a rise in the cost of leaving, making the people of Guwahati realize the importance of having their own home over staying in rented accommodation. This has led various lenders in the city to come up with various types of home loans at affordable interest rates and attractive loan tenures.
Also Read: Guide to Home Loans
Some common features and benefits of home loans provided in the city are:
Also Read: Tips for First Time Home Buyers
Home loan eligibility features vary from lender to lender. Common eligibility requirements for home loan borrowers in Guwahati are as below.
Common mandatory home loan documents expected to be provided by home loan borrowers are:
Also Read: Tips to get Home Loans at low-interest rates
Guwahati has seen a lot of development taking place leading people to come to the city for employment opportunities. As such, there is a booming demand for homes. Various lenders have set up branches in the city to help the residents deal with their home loan requirements.
1. Does a bad credit score lead to home loan rejection?
Yes, in most cases, bad credit leads to the rejection of home loan applications of borrowers, as lenders consider such borrowers as high-risk.
2. Is there an age limit to avail of home loans?
Yes, most lenders give loans to borrowers in the age group between 21-65 years.
3. Is having a stable income an important criterion for availing of a home loan?
A stable income ensures a lender of the repaying capability of the borrower, so it is considered an important criterion for granting home loans.
4. Can a lender provide a home loan exceeding 90% of the home value?
A lender cannot provide a home loan, exceeding 90% of the home value as per RBI guidelines.
5. Will an improved credit score help me to get a home loan?
If you work on improving your credit score, then your chances of getting a home loan increase considerably.
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