What is basic home loan policy

Question

Accepted Answer

Basic home loan policy refers to the guidelines and criteria set by a financial institution for granting home loans.

Basic home loan policy outlines the eligibility criteria for borrowers, such as income requirements, credit score, and employment history.
It also includes the loan-to-value ratio, which determines the maximum amount that can be borrowed relative to the property's value.
The policy may specify the interest rates, repayment terms, and any additional fees or charges associated with the loan.
Lenders may have different policies regarding down payment requirements and documentation needed for loan approval.
For example, a basic home loan policy may state that borrowers must have a minimum credit score of 650 and provide proof of income for the past two years.

Accepted Answer

Home loan policy is depend on three part
1 customer type and eligibility
2 proparty legal and all document of releted chain
3 proparty technical like proparty value and four side boundery

What is basic home loan policy

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