All You Know About Home Extension Loan

When time moved happiness grows and with this family also grow which leads to more space in the house. It can be anything a big balcony, a new bedroom or a big kitchen. But home is like a well you can not add limited in that you need a good amount for this. Saving not able to help every time for this you need a home extension loan. You can easily apply for a home extension loan to back you up with all financial assistance for the home extension.

Eligibility Criteria:

 There is a set of eligibility criteria for loan extensions loans listed below:

• The applier should be 21 years old or above.

• The individual should not be more than 65 years old.

• He/She should be salaried or self-employed.

So, the individual should capable of the repayment of the loan easily. You can check your EMIs on EMI Calculator for your knowledge. Also, keep in mind that you should have a decent credit score for easy and fast approval of the loan by the lender.

Some benefits of home extension loan:
 

• Flexible Tenure: The repayment period is long you can repay in between 20 years. Choose tenure which suits you best for the repayment period.

• Quick Disbursal: Fewer documents leads to quick disbursal of the loan. This loan requires very little documentation.

• Attractive Interest Rate: The interest rate offered by the lenders is very good or we can say low. But before applying a little research is important to search the best lender for the home extension loan. 

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