A loan against property (LAP) signifies a loan taken against a property. It can be a residential or commercial property that would require specific documentation for the lenders to determine your loan approval.
Since personal loans are online, home loans are now available easily with no hassles.
Buddy Loan is one of the biggest loan aggregators in India that disburses loans at lower interest rates starting at 11.99% p.a. They also have customized EMI options that help you work your credit score with ease.
Availing a home loan
A 3-minute application for loan processing with minimal documentation is all it takes. The approval rate of home loans depends on many factors such as income, eligibility, credit score and age to a certain extent.
The best benefit of a home loan is the flexibility it offers to your borrowers. You could use the money to buy commercial properties such as houses, apartments, workshop spaces. They can avail this loan for developing your home interiors and exteriors too.
For example, you can use the money from the home improvement loan to purchase necessary equipment, including paying for a complete furniture set. You can increase the price of your house or apartment in case you are renting it out then.
You can pin down one-shot payment to own a house or apartment, as the loan advancement has made it easier for disbursement. Buddy Loan requires very minimal documents such as (identity proof, address proof, income tax returns.).
You would gauge better if you analyze your expenses with a Home Loan EMI calculator available on every loan, aggregator, bank sites. You could estimate your required amount and then apply to only that.
EMI & Tenure:
Buddy Loan App disburses home loans for a loan tenure of 12 months to 5 years. The best option for you is to tell your lender if there are certain concerns explicitly and you could get your EMI payment customized.
This will help your credit score stay unaffected and grow while you repay the monthly EMIs on time.
Home loan EMI calculator
You could avail a personal loan to enhance your lifestyle and home loans to develop your dream projects/home. Using an EMI Loan calculator online will help you approach the lender with a rough estimate of the interest rate you will have to shell out every year. You could borrow anywhere from Rs. 20,000 to Rs. 15 Lakhs. Buddy Loan disburses loans at lower interest rates starting at 11.99% p.a.
What is a home loan EMI calculator?
They are online Interest calculators that assist you in calculating. It could ease your decision with all the calculations you make towards availing a home loan. You can estimate the difference in the rate of interest by adjusting the tenure and principal loan amount scale on the web page.
It is an efficient financial planning tool for any personal loan.
How to equate home loan EMI?
EMI, known as Equated Monthly Instalment. Wherein, it includes repayment of the principal amount to the sum payment of the interest. The longer the tenure, lower is the EMI.
Bigger the loan amounts the longer the tenure and thus you could reduce your home loan interest rate. Let’s understand how a home loan EMI calculator function?
Knowing the EMI for the loan amount you can avail it and this calculator will help you pre-plan your expenses and prepare yourselves for the sum of interest rate to pay annually. It helps you understand the home loan eligibility and plan your journey accordingly.
To use the home loan EMI calculator input the required loan amount, loan tenure, interest rate in the extended pages of loan or banking websites.
- Loan Amount: Input the desired loan amount that you wish to avail
- Loan Tenure (In Years): Input the desired loan term for which you wish to avail the housing loan.
- Interest Rate (% P.A.): Input interest rate.
Buddy Loan advantages
There are so many ways to repay the home loan and the borrower can customize repayment plans (EMIs) and the loan amount initially before defaulting.
The borrower can customize the EMI payment by talking to one of the Buddy loan lenders. This makes way for flexible loan instalments.
With the highest loan approval rate in the industry, you can apply anytime loan anytime 24/7. Buddy Loan has lenders distributed across the country.
The best perk of Buddy Loan is to quick loan sanction. Post submitting your application, you will receive an update on the approval/denial. If we approve your application, they will sanction your loan within 48 hours, instantly into your bank account.
We offer collateral-free loans that require very minimal documentation as mentioned above earlier. The documents required are just proof of income, address and identity.
Submit your credit history or report based on which we calibrate the loan dispensing rate.
Buddy Loan is safe to avail loan up to 15 Lakhs. AI & ML have made it secure & confidential for the borrowers’ details.
If you’re an Indian Citizen, it is very easy to apply for a home loan via Buddy Loan. Plan your returns, repayments, EMI per month, and research well in advance for the competitive interest rates.
You can avail a home loan for commercial purposes like revamping your old building, buying a new furniture set for your house, renovating your house or building a new house. This could even before the construction has started.
The Buddy Loan aggregator is one of the biggest loan dispenser units in India today with a loan approval rate of 80%.