Is it hard for a single woman to get a home loan?

I am a first time home buyer and am in the process of doing research to ge a home loan. The home loan calculator I can find say rates are based on married, two dependent households. Because I have no dependents and all of my income would go toward my own expenses does that make me eligible for more than a married household that brings in equal income to what I earn? 
Well, you do not get to file as married because you own a home. But, no, being single does not effect your ability to obtain a loan. In fact it would be illegal to discriminate against you for your family status.

Does any one have the best Financial Calculators in australia for home loan on line?

I do qualify for a VA home loan, is it possible to get approved for a higher loan amount?
I have done those “mortgage calculators” , most of them say I can afford between 140,000 and 165,000…however the house Im looking at is 180,000. I was just wondering if it could be possible since it is a guaranteed loan to be approved for more….thanks! 

If you are approved through an automated underwriting system on a VA loan, the ratios are waived. You need to get with a lender who can run the application for you at the higher price. If you would like, you can contact me through the e-mail link in my profile. I would be happy to help if you would like. Good luck.

What’s the additional cost that needs to be figured into a home loan other than then actual payment?
The mortgage company said they would give me a 7% interest rate, not bad considering my credit is shot. So I punch that into a amortization calculator and get a payment on a $75,000 house at $498.98. Yet, the broker said my payment would be about $705. What else are they figuring in to the payment? What formula or numbers are the lenders using to give me the rough number? How can I figure the taxes, insurance, etc cost myself so I can get a better number on paper to build my budget around? 

Like they say the extra is the property taxes and the homeowners insurance. The actual figure for property taxes will depend on which house you buy. If you already have it picked out you can look up the real figure and the lender can actually help you do that. The homeowners insurance depends on your credit (believe it or not) and the size, age, condition and location of the house. It also depends on what kind of coverage you want, how large a deduct able you want, and if you also have your car insurance thru the same company. Shop around and ask a few companies for quotes. But your lender is probably just guessing right now and one guess might be as good as another.

How do i refinance my home loan/mortgage?

My mother used a “VA” loan to pay for our home. the interest rate is above 6% and she is looking to refinance to a lower rate. Now i watch many (money) shows but seein that i dont own a home, i never payed attention. Can you guys/gals give me a run-down of how to go about refinancing a home loan and some possible tips? thank you 

If she has a VA loan then have her call the company that holds her mortgage, see if she can get a lower rate with a new loan. They may offer some type of VA streamline refinance so it will be fast and easy and a lower rate for her.

Tel me some tips to get home loan promptly?

The first thing to do is get your credit report. You can get them free. You will need to see the scores, but for now, just check to see whats on them. Second you must realize your monthly income will determine how much of a home loan payment you can afford monthly. It should be about 28% of your Gross monthly pay. Just multiply your monthly income times 28. Third, read up on newpapers in your town on what’s selling and the prices. To simplify for now, multiply your annual income times 3.5 to get the total amount of a house you could buy, with good credit (over 620 score). Lastly, if you want to buy a home with no down payment, only go to those mortgage brokers who are advertising zero percent purchase programs. Have your last 2 years w-2’s, your last 3 months bank statements and paystubs for your last month handy. You may need NONE of these, or more depending on the loan program your broker qualifies you for. Obviously there’s a little more to it, but this makes you financially prepared.

Do you have any home loan tips on how to get more money for a home loan?

1. Improve your credit score. If you’ve got a credit card, use it a few times and pay it off on time CONSISTENTLY. That will show reliability in paying your debts. Let them know about any assets that they don’t know about that you might use as collateral — assuming you want them to have that information. Liquid assets like stocks, bonds, investment certificates, and old fashioned cash tend to be better than hard assets like houses for such negotiations. Hard assets like real estate aren’t worth much to a bank, as they can only recover their money if they can sell it, and that takes a lot of time and effort. 2. Have other financial products at that bank. If you’ve got your investments, insurance, and bank accounts through them, they’re more likely to offer you more, and give you a more favorable rate. A history of business with them will make them more comfortable about lending you money, and they obviously would prefer that you keep your financial business with them. Of course, if you only have a single small bank account with them, you’re not going to get much mileage out of this. Don’t expect any sane banker to offer you more than the equivalent of your high value assets in a loan. ie. doubling the money you have on hand. That’s typically the maximum you can get a loan for. How close you get depends on how confident they are that you’ll actually pay back the money. The only way you can really get more than that would be if you can find someone willing to co-sign for you. Basically a co-signer is someone who’s willing to be on the hook for paying back the loan if you don’t. I’m sure you can see why a lot of people would be reluctant to co-sign for someone. 

How much income I should have for getting 25 lakhs home loan in India?

What should be my income for availing a home loan for say 25 lakhs?how do i calculate the eligibility amount based on my income?

for avail home loan ts. 25 L, your annual income 500000-550000 lakh. but remember bank give the loan after check your past three years financial record’s, past 6-7 months bank statement, your any other loan schedule & verify your property (which will you purchase), if your all documents suitable for loan then bank give to you loan.

Is home loan interest no limit exemption applicable for a property where my parents live?

I have taken a home loan India for a property at my native where my parents live.I am staying in Chennai at a rented house.Shall i claim the whole interest(more than 150000) i am paying for the home loan since the property is not self occupied.And also shall i claim HRA exemption for the rent i am paying

As long as you have not rented out the house, even if you keep it vacant it is deemed ’self-occupied’. You are eligible for tax benefit on interest of Rs 1.5 L. You can claim HRA exemption if you are receiving HRA in your salary. The actual HRA deduction, u/s 10(13A), you will be entitled to will be the least of the following: •The actual amount of HRA received. •40% of salary. This increases to 50% if you are renting out the house in Delhi, Mumbai, Chennai or Kolkata. •Rent paid minus 10% of salary (basic component + dearness allowance)

When can one get the documents back after repaying his home loan? How long does it takes?

If someone pay his/her home loan in between (Accepting the penalty od 2-2.5 % whatever) then when should the bank returns the documents and how?

The bank (or actually, a service provider for the bank) will record a “re-conveyance”. Once the reconveyance is recorded, they will mail you a copy. Allow 4 weeks. (Perhaps 6 weeks in the current fiscal mess.)

Can I save long term capital gain by repaying home loan ?

I’m planning to buy a flat in delhi by taking home loan. I have a house for sell. Now the question is – If I buy flat first and sell house later and pay the long term capital gain to the bank to lessen the amount of loan, will it save Capital gain tax ? for your information, I’ve bought my house in 1998.

Home Loan EMI from various Bank in India?

What would be the EMI if I take Rs.1,00,000/- as Home Loan at Kolkata, India. I want to have a comparative chart of various banks.

To get the honest picture, this you should and would have to get it yourself. It is very simple. Many sites provide EMI calculators including SBI. Independent EMI calculators are also available in plenty all over the Internet. All you need to have is the amount of loan, rate of interest, period of loan and compounding method any bank is applying in your case. You can vary any or all these four components at your ease with this calculator and come to know of an EMI for that respective combination. This will make you self-sufficient also in this aspect.

Who offers the lowest 20 year home loan emi in india?

SBI easy loan scheme 8% 2. LIC housing Finance 8.75% 3. axis bank 8.75%

Unable to pay home loan emi’s?

I took a loan from ICICI Bank but due to severe set back in my business I have been unable to pay my last two EMI’S.NOW what I need to know is what might happen if I am not able to pay up in near future, which seems a possibility.Will I be arrested ? Can the bank people take my household items etc.The bank has the property papers as security for the above loan. The banks agents are harassing me every day.Somebody please tell me exact procedure which the bank follows if a customer is not able to pay.

Bank has legal rights against you but they have to follow lengthy legal procedures. Straightaway arresting and possession of household goods is not likely to be. Please do not lose mental tranquility. Have confidence in you. Sometimes difficult times also come in life. Take stock of position. Have a discussion with bank manager and request them to reschedule the repayment of total due amount. Simultaneously you try to negotiate with any other bank to raise bigger loan. Pay off this out of that and property can be re-mortgaged to new financier. What you have is loan with bigger installment (per month) in less time. What you require is less installments(per month) in longer period. You can try nationalized bank too. Take help of persons who arrange bank finance. Cool-minded, please take stock of present position – discuss the matter with your family members and have blueprint of future. But have faith in God. He will help you out. Do not be panicky. If needed take help of lawyer. But best recourse will be to negotiate with your bank.

Can i avail the benifit in income tax for the home loan when my house is under constraction?

I have taken a home loan from SBI and my house is under construction .

No ,you can not take home loan benefits before completion of house. the important point is that if you completes your house before end of f.y i.e before or on 31.03.2008 then all the benefits will available to you.so in simple words benefit is available if house is completed by the end of the previous year. now ,what is the meaning of completion of house? “a residential house property the income from which is chargeable to tax under the head Income from house property” In simple words no completion certificate is required from any authority what so ever ,u r the boss to decide whether its complete or not ,but it should be logical like you have basic facility in it according to general terms .so completion of house is a subjective term ,but its fulfill all the conditions if some one starts living in that house. so dear try to complete it by 31.03.2008 you have two month and you can avail all the benefits.

Taking home loan from REPCO bank

How about taking loan from REPCO bank? Friend is offering me 25 lakhs loan to make a home?

My friend who is manager in Repco is interested to give me 25 lakhs as home loan. Interest will be more or less like the same as other banks. But my question is, is there any problem if i take loan from this kinda of banks? She is trying to improve the banking operations, thats why they planned to give loans to reliable persons…she says…! what should i do now?

Ensure that your documents are kept in safe custody and the services are not person centric i.e tomorrow somebody comes as manager in place of your friend he should provide the same service. Thats it.

1% interest subsidy on home loan upto Rs 10 lakhs

The finance minister Pranab Mukherjee provided relief to a large section of home loan borrowers by announcing interest subvention of 1% on all housing loans up to Rs10 lakh to individuals, provided the cost of the house does not exceed Rs20 lakh” this loan rebate will be available for one year.

This means that 1% of interest burden will be borne by the government. The home loan borrowers will have to pay less EMI to banks and government will reimburse the banks.

This will translate to a one-time saving of Rs7,596 for anyone who takes a Rs10 lakh, 20-year loan at an interest rate of 9%, and is given a subsidy of 1%, taking his effective interest rate down to 8%.

This interest subsidy will be routed through schedule commercial banks and the housing finance companies registered with the National Housing Bank.

Home Loan Balance Transfers welcomed by PSU Banks

PSU Banks have said that the home loan balance transfers from private sector banks and housing finance companies are welcome. The quality of assets is the main issue for Public sector banks regarding home loan transfers from their private sector counterparts.

Home loan balance transfer happens when there is a wide interest rate differential on home loans between two different banks. Currently this gap is very wide between the private and public sector banks.

Consider this: On a Rs 30-lakh home loan of 20 years, PSBs are currently charging a floating interest rate of about 9.25 per cent, while select private sector banks/HFCs are quoting an interest rate of 9.75-10.50 per cent.

These high interest rates are forcing the private sector bank customers to think of switching to the public sector banks for their home loans.

State Bank of India, has witnessed a tremendous rise in applications for takeover of home loans. For Andhra Bank too a large portion of its home loans has come from take over of loans from private sector banks. However, not all public sector banks encourage take over of loans due to the uncertainty and risk involved. If interest rates fall again, there is a possibility that the customer may shift his loan again. We do it (balance transfer), but only selectively.

LIC Housing Finance reduces home loan rates by 75bps

LIC Housing Finance Ltd today reduced interest rates for existing home loan borrowers by 75 basis points. The housing finance company said the cut was a result of a reduction in cost of funds. The company said the revised rates, the lowest in almost two years, would be effective from April 1.

Interest rates on home loans will now be between 10-10.50 per cent against 10.75-11.25 per cent earlier.

LIC Housing Finance, which competes against the likes of the State Bank of India, HDFC and ICICI Bank, has also announced a special rate of interest for customers opting for floating rate loans.

This rate reduction is the second such move by the company in the past three months.
It had earlier reduced the interest rates by 75 basis points for its existing home loan borrowers, effective from January 1 this year.

The new floating rate has been fixed at 8.75 per cent for loans up to Rs 30 lakh. For loans above Rs 30 lakh and up to Rs 75 lakh, interest rates will be 9.50 to 9.75 per cent and for loans above Rs 75 lakh, interest will be charged at the rate of 10.50-10.75 per cent.

Hyundai Motors & Syndicate Bank tie-up for quick auto loan for customers

Hyundai Motor India Limited has partnered with Syndicate Bank for quick disbursal of auto loans for Hyundai vehicles in India. The bank shall offer attractive loans packages on Hyundai vehicles to potential customers. Syndicate bank has more than 2200 branches pan India. It has partnered with Hyundai to reach out to wider client base and make loans easy and convenient to Hyundai customers.

Hyundai Motors India Limited is India’s largest car exporter and second largest car manufacturer in India. It has its manufacturing unit in Chennai and uses Chennai port for export of small cars from India.

Hyundai launched its most awaited model, Hyundai i20, in India on December 28, 2008 which took many by surprise. The new model from Hyundai has been extremely successful and has received raving reviews from the customers as well as the auto critics..