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31 October 2011

Tips for Joint Home Loan for Couple Love Marriage Outside Religion

Getting married outside your caste and religion, love marriage, as love does not have eyes, in such cases people often have both caste religion rituals for marriage. The trend of love marriages have been the way today and with most couple working many prefer to go in for a registered court marriage. 
This is one of the simplest form and also with minimum expenses and with the registration the newly married couple can go ahead and use the savings for future expenses. When you are married according to your religious rituals then your marriage is registered in the catalogue of your head priest  whichever religion you may follow.
With marriage come dream of owning a new home and every couple wishes to shift into their new home as soon as they get married. 
What procedures can the newly wedded couple adopt for quick approval of their home loan?
As their marriage is registered they need not worry about marriage proof and they have this important document with them. Whenever they need a loan they can show their salary proof and avail a loan. For applying for a home loan it is advisable to go in for a joint home loan. here the chances of approval are increased and also your total salary amount will be increased collecting both your salaries. For any lender your repayment capacity is important and you get the advantage of increased total salary when you apply for a joint home loan.

Joint Home Loan After Marriage -Image by Rizwana Mundewadi

The trend of love marriages have been the way today and with most couple working many prefer to go in for a registered court marriage. This is one of the simplest form and also with minimum expenses and with the registration the newly married couple can go ahead and use the savings for future expenses. When you are married according to your religious rituals then your marriage is registered in the catalogue of your head priest.
With marriage come dream of owning a new home and every couple wishes to shift into their new home as soon as they get married. What procedures can they adopt for quick approval of their home loan?
As their marriage is registered they need not worry about marriage proof and they have this important document with them. Whenever they need a loan they can show their salary proof and avail a loan. For applying for a home loan it is advisable to go in for a joint home loan. Here the chances of approval are increased and also your total salary amount will be increased collecting both your salaries. For any lender your repayment capacity is important and you get the advantage of increased total salary when you apply for a joint home loan.
The registration certificate is enough proof for the lender to offer you joint home loan. You can cut down on extra expenses by delaying the honey moon and collect the total amount for down payment of your flat. Try to also accumulate all gifts in terms of cash payments as this will further add up to the amount you need for the down payment of your new flat. Commitment from both sides will help you in better achieving your goal of owning a new home faster.
When your marriage is as per terms of your religion you will need to register this in the court. This may take some time and how can you proceed with your loan application meanwhile? Many builders and lenders will be willing to go through your financial portfolio to understand your repayment capacity. Your marriage certificate from your local religious head will also be as proof of your marriage and this copy can also act as document proof of your marriage for application of joint home loan. Remember to select a house that you can afford and will be able to repay within the loan repayment tenure.
Applying for a very large loan which is questionable will delay your joint home loan approval and there are also chances of your application getting rejected. Be realistic and choose a home you can afford, that does not mean you under achieve, do dream big and all the best for your first home loan..

2 comments:

  1. Read your blog its really informative and helpful keep updating with newer post on loan against property

    ReplyDelete

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