Got your Home Loan Approved? Know Here What to Do Next - Loan Trivia

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Thursday, 7 September 2017

Got your Home Loan Approved? Know Here What to Do Next


Everybody knows the hardships of getting a Home Loan approved. The lengthy documentation process after that the verification and meeting the Home Loan eligibility criteria, etc. But that is not the end of it. If your Home Loan is approved don’t just sit back and relax. There is more to go for. You have to get the registration process done and move into your new house.
The registration procedure takes around three to four months. If you are a first time home buyer you might have a tough time going through the process but with knowledge in place beforehand you can go through it easily. Check out few things below.
Quotation:
Once your Home Loan is approved your lender will provide you with a quotation. You need to read this quotation carefully. Only after reading it and understanding it carefully, you should sign the agreement.
Insurance:
These days uncertainties are common. You need to get yourself covered for such unpredictable circumstances. A mortgage protection plan or a life insurance helps in repaying the outstanding loan amount.
Charges for the Attorney:
The Bond Registration Attorneys are generally appointed to get the registration process done. These Attorneys’ fees needs to be paid upfront. This has to be borne by the borrower. This step should be taken to speed up the process.
It is necessary to give attention to many things post your loan approval. Find out more here:


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