Advantages of Small Business Loans
When starting a new company or business, people may sometimes to
get some financial assistance in the form of small business
loans. Some current business owners or people who are interested
in starting a small business are not familiar with or...
Guide to Secured Loans
Here is a useful guide to secured loans. A secured loan is a loan that a lender provides on the understanding that a property is secured against the loan. Secured loans are also commonly known as a homeowner loan, home loan or home owner loan. ...
HECM Loans - New Lending Limits for Reverse Mortgages
Reverse Mortgages can now give you more funds than ever before
with a nationwide lending limit elevation on January 1st of
2006. Now borrowers can utilize more of their home's equity
without the burden or risk of making monthly payments, and...
Sub-Prime Mortgage Loans - Five Ways To Lower Your Rates On A Sub-Prime Mortgage
Sub-prime mortgages don't mean you have to pay excessively high
interest rates to buy a home. By taking time to do some research
and pick the right terms, you can save thousands on your
mortgage. The following five tips will help you get low...
What are VA loans?
VA loans are basically mortgages or home loans geared towards ex-military servicemen and women. The VA loan programme was created in 1944, and was initially known as the Servicemen's Readjustment Act, to help returning servicemen settle down and...
Documents required for Land Purchased Loans
For approval of loan
a) Common for all applicants:
1. Allotment letter of the development authority. 2. Copy of
approved drawings of proposed purchase. 3. Agreement for
sale/sale deed from architect/engineer for the property to be
purchased. 4. If you have been in your present
employment/business or profession for less than a year, mention
details of occupation for previous 5 years, giving position
held, reasons for change and period of the same. 5. Applicable
Processing Fees.
6. Any other information regarding your repayment capacity that
is necessary and will assist the financial corporation in
assesing the case.
b) Furthermore,
For Employed Individuals:
1. Latest salary slip/salary certificate showing all deductions.
2. If your job is transferable, permanent address
where
correspondence relating to the application can be mailed.
3. A letter from your employer agreeing to deduct the monthly
instalment towards repayment of the loan from your salary. This
will expedite the processing of your loan application.
For Self-Employed Individuals:
1. Balance Sheets and Profit & Loss Accounts of the
business/profession along with copies of Individual Income Tax
Returns for the last three years certified by a Chartered
Accountant.
2. A note giving information on the nature of your
business/profession, form of organisation, clients, suppliers,
etc.