The home loan application procedure is incomplete without the verification process. This procedure guarantees that the amount to be disbursed to the borrower has been determined to be a precise amount. Home loan verification (also known as housing loan verification) is one of the ways lenders employ to Evaluate the property in question and ensure that the borrower has submitted all the required documents.
The home loan verification process involves confirmation and valuation of real estate properties. The process is usually undertaken by banks and non-banking financial institutions and it informs the lender to disburse an amount that's within a range the verification process deems suitable.
Lenders can perform the home loan verification themselves.
Doing this ensures that the actual home loan amount to be disbursed is an honest sum. Your original documents used in the home loan application process are subject to housing loan verification. This is done to check that the property carries a clear title and that the home loan is paid to the rightful owner of the property for legal and credible purposes.
Note that lenders will ignore real estate properties without a clear ownership title. We have compiled a brief but detailed step-by-step guide to help you through the verification process.
Below is a step-by-step guide to help you through the loan verification process.
Here are the documents you need for a home loan in India:
Please note that we may need you to submit additional documents if the need arises.
At Bajaj Housing Finance, we conduct our home loan verification process with utmost diligence because we value our clients greatly. We will Evaluate the property you desire to own and then weigh your repayment ability without any bias whatsoever.
We do this to guarantee that you have repaid or can repay your home loan with no problem. Also, our goal is to relieve the burden of the EMIs you pay as part of your loan.
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Last update on 11-Mar-2021
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