Buying a house can be exciting, it is one of the most important financial resolutions of one’s life. But getting into the process without a solid plan will not only give you stress and anxiety, sometimes it will also cost you a hefty price. To make this entire process easier check the following steps.
Check The Credit Score
The first step is to check your credit score (CIBIL SCORE). Make sure your credit score is excellent, analyze your credit report and make necessary changes as soon as possible. Do everything feasible to improve the credit score as much as possible before making any further steps.
Pre Approved Loan
Once the credit report is good, next step is to get pre-approved for the home loan. Pre-approval is the sanction from the financial institution for the prospective buyers. Pre-approved loans do not guarantee the disbursal of the loan amount. Pre-approval of home loan has many advantages.
The loan disbursal will be quick hence it saves a lot of time.
A Pre-approved home loan will make you confident and gives you negotiating and bargaining power
Makes you a sensible buyer
Compare Housing Loans
Once this is done you can start comparing home loans, there are many websites where you can compare loans. Use a mortgage calculator.