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What comes next in the process of a loan accepted?

When you apply for a loan and submit all of the required mortgage application documents to the loan officer, your application will undergo an underwriting process. The underwriter will determine whether you are approved for your mortgage loan. Once approved, the lender will provide you with a commitment letter and require you to meet certain conditions before closing. Disclosure Forms The loan officer must provide you with important disclosure forms required by law. The most significant forms are the Good Faith Estimate and the Truth-In-Lending Disclosure Statement. The Good Faith Estimate form outlines your settlement and closing costs. The loan officer should provide this form to you within three days after you submit your application. The Good Faith Estimate form does not provide the actual closing costs; however, it provides an estimate of the costs you are likely to incur during closing on the mortgage loan. The Truth-In-Lending Disclosure Statement details the total cos...
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How much home loan can i get if my salary20,000, 25000? or 50,000?

my salary is 20000  ,  can i get home loan  around 15 lakhs. on a rate of interest of 10.25% per annum.  If  you are married santosh and  have  kids its tough  for  you to  get loan  of 15 lakhs from what you are earning monthly.  your  banker or any  housing finance company executive  can  give you  the  right amount what you  can get . For instance,  if  your  salary  is Rs.  25,000  and the value of  house  you are buying is Rs. 40 lakh, then at interest rate of 8.60% offered by SBI, the  loan  amount  that  you will  be eligible for (assuming you have no other EMI's to  pay ) would be Rs. 37.18 Lakh to Rs. 41.88 Lakh depending on your age. You have a monthly in-hand (take  home )  salary  as Rs  50,000  and you are looking for a  home loan  of about Rs 30 lakh. Your gross month...
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What is the best way to pay off a home loan faster?

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I have something better - how you can pay off your home loan and  get your house for free in 20 years. Being Indian is not easy. The societal pressure is, for the lack of a better word, crippling - score better marks than your neighbour’s son in school, get into a good undergraduate college, build your CV and crack very competitive examinations for your post grad, complete your post grad, get a job, get married, start a family, phew ! Which gets us to the last leg of societal checkbox - buy a house. Coming from a middle class family, I understand the pressure. So the least that you can do for yourself is  get that house for free , by making your money work for you. Yeah - you read that right. This can be done by being aware of the concept of compounding, that Einstein called ‘the most powerful force in the universe’ [ Link ] As I’m a classy guy and I like keeping things crisp - let’s get right down to it. Let’s say you’ve chosen an amazing flat in an up & coming ...
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