Ducks in a row, let's go!

Before embarking on your journey to homeownership, it's essential to plan thoughtfully. Begin by compiling a list of your needs and wants, finding a trustworthy real estate agent, and setting a realistic budget to guide your understanding of what you can afford and where.

This website offers easy-to-use Affordability calculator to help you estimate your budget. This tool is designed to help you understand how much you can afford when looking to purchase a property.

Your Golden Ticket, Homebuying in a click-it!

A pre-approval secures a specific loan amount for you and includes a certified pre-approval letter, enhancing your appeal to sellers. To obtain it, banks will check your credit and review important financial details. To apply for your own "Golden Ticket" under the Home Loan product, simply select "No" for the question " If the property has been identified?", when applying for a New Loan. Voilà! You're now on your way to securing this special offer.

Review your credit report and address any issues before submitting it for pre-approval. A better credit score leads to better terms, increasing your chances of securing the deal on your dream home.

The Thrill of the Search!

With the pre-approval in hand, you can start looking for properties that fit your budget and preferences. Maybe you've noticed a few "For Sale" signs in the locality or have multiple tabs open on your laptop. Either way, you're ready to start visiting houses. Work closely with your real estate agent and keep your list of wants and needs handy.

It's easy to get carried away by the allure of large living area and spacious layouts, but it's vital to keep your budget in mind, both for now and the future. Be excited, but also be realistic.

A great rate. A fair deal.

Now that you've found your home, made an offer, and it's been accepted by the seller—congratulations! Once you finalize a property, you need to submit detailed documentation to the lender. The lender may conduct legal and technical verification of the property to ensure it meets regulatory and technical standards.

House hunt taking a little longer than expected?, there's no need to worry. Pre-approval letter which you secured earlier from the lender is valid for whole 3 months. This way, you can concentrate on finding the right home without being affected by market fluctuations.

Almost home!

Once the seller accepts your offer, your lender will assist in finalizing all details. The home will be appraised and inspected to meet lender’s policy standards (read legal & technical). You will review and sign loan agreement, pay any additional costs, and meet all conditions, such as the down payment. Finally, the lender will disburse the loan amount to the seller or builder according to the transaction type.

Remember to set aside a significant amount of funds to cover your closing costs. These costs refer to the various fees and expenses associated with finalizing a real estate transaction, such as charges for legal documentation, property registration, stamp duty, brokerage commission, maintenance and other administrative expenses. While the specifics may vary depending on the location (such as the Memorandum of Deposit or MoD cost in Karnataka) and the property's value, it's crucial to be aware of the common closing costs in your property location (city and state).

Your Dream Home!

Once the loan is disbursed, the property is officially registered in your name, and ownership is legally transferred to you. Congratulations, your dream home is now yours!

Throughout this process, maintaining close communication with your lender and fulfilling all requirements is crucial for smoothly acquiring your new home.